Ethereum CEO Lists Subsequent Upgrades to Come After the Merge

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


Ethereum CEO Vitalik Buterin sparked optimism in many ETH enthusiasts after revealing the next steps in the grand plan for the network at the recently concluded annual Ethereum Community Conference (EthCC) in Paris.

All the hype on the network upgrade has been focused on the Merge, which is slated to go live on September 19, ignoring several other important upgrades to follow after the Merge.

The Merge will implement the complete switch for Ethereum, making it a Proof-of-Stake (PoS) network, ending the Proof-of-Work (PoW) regime.

At the Paris event, Buterin reminded the community of the subsequent upgrades to be implemented after the Merge. These upgrades include the Surge, Verge, Purge, and Splurge in that order. The Ethereum co-founder boasted that the network would have the capacity to process 100,000 transactions per second by the end of the upgrades.

Giving a breakdown of the upgrades, industry analyst Miles Deutscher explained that the Surge, which he noted should go live in 2023, will usher in scaling for the network through the introduction of sharding or side-chains.

Deutscher noted that the Verge introduced a system called ‘Verkle Trees,’ a “powerful upgrade to Merkle proofs that allow for much smaller proof sizes.”

After that, the Purge should go live. This upgrade would eliminate redundant historical data to fine-tune network storage and lower congestion.

Finally, the Splurge comes with several smaller upgrades and fine-tuning to secure smooth network operation after the previous upgrades.

Key Ethereum Levels to Watch — July 22

Ethereum maintained a clear attachment to my short-term trendline over the week, with the blockchain giant cryptocurrency peaking at $1,646, an 11-day peak.

ETHUSD – 4-Hour Chart on Bitstamp. Source: TradingView.

However, the ETH price has fallen below the trendline and has failed to return above the mark after today’s attempt. The price now flirts with the midpoint of the Bollinger band, threatening a full reversal to the bottom of the band at around $1,500. Maintaining its position above the band’s mid-point over the weekend could help the cryptocurrency begin the coming week on a bullish foot.

Meanwhile, my resistance levels are $1,600, $1,700, and $1,800, and my support levels are $1,500, $1,400, and $1,265.

Total Market Capitalization: $1.04 trillion

Ethereum Market Capitalization: $190.4 billion

Ethereum Dominance: 18.2%

Market Rank: #2

 

You can purchase Lucky Block here. Buy LBlock

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.