Digital Coin News

BofA Says Ethereum Needs Scalability Improvements to Hold Its Market Position

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 63%

Coin Coin Headlines News

Coin Coin Latest News,Coin Coin Headlines

.BankofAmerica says Ethereum's move to PoS will decrease its energy consumption by over 99%, lower barriers to entry for investors to generate yield as network validators and alter ETH's supply/demand dynamics. willcanny99 reports.

, the first of five planned updates for the blockchain, will combine Ethereum’s existing execution layer with the Beacon Chain, a PoS consensus layer, the report said.

“PoS decreases Ethereum’s energy consumption by over 99%, lowers barriers to entry for investors to generate yield as network validators and alters ETH’s supply/demand dynamics,” the bank said, referring to the system’s ether token. The transition also acts as a precursor for the “Surge,” the second of the planned upgrades, the note said. That will aim to improve Ethereum’s throughput from around 15 transactions per second to about 100,000 TPS while reducing transaction fees, it added.

Without the scalability improvements, Ethereum is unlikely to remain as the dominant blockchain operating system, the bank said. Bank of America notes that newer blockchains such as Binance Smart Chain , Tron, Avalanche and Solana have

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

BankofAmerica willcanny99 And yet through all of this noise you mention, it's still unsound centralized money & a completely overvalued tech stock.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in COİN

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Survey That Asks if The Merge Could Cause an Ethereum Chain Split Sparks PoS Delay Discussions – Bitcoin NewsA recent poll indicates more than 33% of the survey’s respondents think Ethereum could split into two blockchains once again.
Source: BTCTN - 🏆 531. / 51 Read more »

While the Bear Market's Claws Drag ETH Prices Down, Ethereum Network Fees Remain Low – Altcoins Bitcoin NewsETH prices are much lower, but the bear market has given way to the lowest ethereum network fees in months.
Source: BTCTN - 🏆 531. / 51 Read more »

Ether derivatives trading is surging as large hedge funds speculate on mergeLarge traders are speculating on the Ethereum merge, driving a surge in action across ether derivatives markets.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Ethereum's Vitalik Buterin Slams Michael Saylor as 'Total Clown'Ethereum’s Vitalik Buterin has vented his frustration with Bitcoin maximalists, calling them “total clowns”
Source: Utoday_en - 🏆 295. / 63 Read more »