One of the most significant changes to the Ethereum network in recent years has been the transition of its consensus mechanism, or transaction confirmation, from PoW to PoS. The details of the differences between the two mechanisms are complex, but what you need to consider when predicting the price of Ethereum are the benefits of this transition. In general, the PoS, or proof-of-stake consensus, is a faster, cheaper, and more secure way to confirm network transactions compared to the PoW, or proof-of-work consensus. Ethereum finalized this process, known as a merge, in several stages. The last of these was in the first half of 2024.

A retired teacher who is interested in the crypto space and digital currencies

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