For this reason, many investors believe a flipping of the market is inevitable - dubbed "the flippening" in crypto circles - with the merge acting as a catalyst for Ethereum becoming the dominant platform. Yet bitcoin remains just an investment without any real ability to be used for contracts in decentralized finance applications. Beiko didn't reply to a request for comment via Twitter and LinkedIn.Įther's market capitalization of $363 billion is less than half bitcoin's, and together the two make up 60 per cent of the crypto market. The timing of the merge - Ethereum's EH1 chain will meld with a new chain to create ETH2 - remains unclear, although many crypto watchers expect it to happen some time this year. "No firm date yet, but we're definitely in the final chapter." "It won't be June, but likely in the few months after," Mr Beiko wrote in his tweet.
#The next big thing after bitcoin upgrade#
"It's certainly plausible that Ethereum's highly anticipated upgrade to a proof-of-stake system could be delayed again given that this transition is highly complicated and still uncertain as to whether it can actually deliver on its promise of lowering costs and increasing transaction speeds."Įther fell 8 per cent from $3,215 to $2,947 on April 11, the day Ethereum lead developer Tim Beiko said on Twitter that the June rollout had been pushed back as tests continued. "The timeline for seeing this launch continues to extend," said Brendan Playford, founder and CEO of decentralized financial data platform Masa Finance.
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