Ethereum reaches US$ 4,400 and breaks historic record

The cryptocurrency market showed that it remains heated: this Friday (29), the Ethereum (ETH), the second largest digital currency in the world, reached its historical maximum value, reaching US$ 4.4 thousand (R$ 25 thousand) in the market, with a variation of 2.6%. The record comes just a week after its historic rival, Bitcoin (BTC), also reached its historic high, reaching a price of US$ 67 thousand (R$ 376.5 thousand) on Wednesday (20).

The cryptocurrency markets have seen drastic upswings in recent weeks. At today’s historic price, Ether has gained more than 60% since its low at the end of September. Bitcoin, in turn, rose around 40% this month, driven mainly by its debut on the New York Stock Exchange, backing the ETF (exchange fund) $BITO, which became the first of its kind to accumulate US$ 1 billion in just two trading days.

The arrival of Ethereum 2.0

Fonte: Die-Wirtschaftsnews / Pixabay / ReproduçãoSource: Die-Wirtschaftsnews / Pixabay

The expectation is that ETH will have new ascensions in the coming days, this time not by taking a ride with other cryptoactives, but by virtue of a novelty implemented on Wednesday (27): the first update of the Beacon network, dubbed Altair, first step to end the Proof of Work (PoW) algorithm mining process, replacing it with Proof of Participation (PoS).

The Altair update on Wednesday represents a closer fusion of the Ethereum platform with the Beacon Chain that, when completed, will bring a definitive end to PoW mining as a mechanism for validating transactions across the network. In addition to the move to PoS, another new feature for the new Ethereum 2.0 will be the use of fragmented chains, that is, divisions of the ETH blockchain.

The change will allow the processing of transactions in parallel, as if they were several lanes of a highway on which Ethereum would be the great road, designed to make the “transit” faster and less energy-using.

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