Ethereum positioned for stability and growth

Ethereum positioned for stability and growth

The battle between Bitcoin and Ethereum is set to make some significant fronts as the two undergo some pretty significant changes that may see Ethereum become the investors digital asset of choice.

While "The Flippening" has been a constant discussion around the two tokens Vitalik's work on the worlds #2 digital currency continues to drive the token closer to that occurring. Despite Bitcoin's latest emergence of BRC-20 tokens on Bitcoin which enables individual shatoushi's to be marked and used as NFT's or proof of ownership, Ethereum is undergoing some changes of their own with an update to the Ethereum road map.

Some of the main changes beyond Nimbus that improves compatibility with 3rd party validator clients and beacon nodes the new plan implements some impressive changes.

Ethereum Pruning Update

The latest update to be announced by Vitalik surrounds legacy data that is held within blockchains that is of no longer use or more so the many failed projects and tokens that have been long abandoned.

These vast amounts of data continue to weigh down current transactions and data transfers as they must be included in every block adding to the information that is circulating and the data that needs to be held by nodes.

Vitalik has suggested it is now time to kick the dead from the Ethereum Network to support it's growth and speed by implementing a Pruning update that will delete the old data. This has been brought on by the finality errors that occurred on May 11 and 12.

Pruning roll out

Ethereum or Eth as it is referred to will automatically include pruning function in the next update by default with Nimbus Validator Clients no longer accepting beacon node URLs that don't include port number or a protocol scheme.

History pruning will also occur incrementally utilising validator withdrawal addresses and support for the Capella Hard-Fork in the Gnosis network. This will hopefully enable Ethereum to continue to scale up and not retain old out of date legacy data of the dead.

The changes also provide the network with stronger security as more old code is removed from the network leaving behind the passed and making way for the present springing the network into a new life.

Ethereum now more powerful than Bitcoin

The changes have seen the Ethereum network surge in value and the amount of Ethereum and it's total value have become a topic of legends, so much so that people have identified that there is enough value in Ethereum to perform a 51% attack on Bitcoin.

At current there are 2 Million Ethereum Tokens that will be staked on Ethereum and securing it's network however, these tokens are valued at US3.6 Billion which is enough purchasing power to purchase 51% of the current supply of Bitcoin. If those who are currently supporting the Ethereum Network decided to sell and buy Bitcoin at the current price a 51% attack is plausible.

Although, a mass sell of Ethereum and purchasing of Bitcoin would most likely cause a drop in Ethereum value and a spike in Bitcoin price it is unknown if purchasing 51% of the total Bitcoin supply is possible without sending Bitcoin close to or over the US100k price point.

Ethereum stability predictions

Due to the ongoing work undertaken by Vitalik and the vital changes applied to Ethereum market experts are predicting that Ethereum will break away from Bitcoin becoming a more stable asset and shielded a little more in comparison to the Bitcoin swings that have been witnessed.

If this is the case and the prediction comes true this will make Ethereum a considerably attractive digital currency investment opportunity beyond Bitcoin's store of value. As bitcoin's inflationary capabilities have been put to the test and it hasn't particularly hedged against inflation, it is yet to be seen the performance of Ethereum and it's capabilities with the increased technological upgrades and ongoing community support.

At the moment it is anyone's guess of what the future market will look like but the positive news seems to be flowing Ethereum's way with increased positivity and market confidence.

With interest rates still rising and people weary of financial impacts it will probably be some time til we see significant market growth instead opting for smaller incremental changes to the tokens price value and perhaps even smaller market corrections.

What are your thoughts on the outlook for Ethereum? are you more confident in the chain?

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