Dan Morehead, CEO of Pantera Capital, recently stated that the potential application of the Ethereum platform, low environmental impact and technological upgrades could help the Ether token continue to outperform Bitcoin, with Bitcoin currently trailing by thousands of dollars. . On August 16 at 12 noon (IST) the price of bitcoin in India was Rs 36.3 lakh. At the same time, the price of ether in India was Rs 2.51 lakh.
“You will see a shift of people who want to store money, doing it in[ether]instead of just storing it in bitcoin,” he said. The London Hard Fork upgrade – the most significant change to the Ethereum blockchain since 2015 – took effect on Thursday, indicating that the network is in the process of getting an even bigger upgrade to reduce its energy use by 99 percent. ready, according to its inventor Vitalik Buterin.
Ethereum and its best rival Bitcoin both operate using a proof-of-work system, which requires a global network of computers running round the clock. Ethereum’s software developers have been working for years to turn the blockchain into a proof-of-stake system – which uses a completely different approach to secure the network that also eliminates carbon emissions. does.