• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Price & Market
Cap Data from
Nomics Logo Nomics Logo
Bitcoinist.com
No Result
View All Result
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
Bitcoinist.com
No Result
View All Result
Ethereum futures
Nexo

Ethereum (ETH) Price Marks a Slight Increase as First Release of Casper Goes Live

Georgi Georgiev by Georgi Georgiev
3 years ago
in Altcoin News, Blockchain, Ethereum, News, News teaser
0

Ethereum’s long-awaited Casper update seems to be making strides as a newer version of the code has been released by the developers earlier this week. The price seems to have reacted, marking a slight increase.


At press time, ETH was trading for $761.86 which is roughly a 2% price increase over the past 24 hours according to CoinMarketCap. The slight price improvement could be attributed to the news that the first version of the planned Casper update was released on Tuesday, May 8th.

Ethereum’s Scalability Issues

It goes without saying that Ethereum has managed to establish itself as the predominant platform for the development of Decentralized Applications (DApps). Nevertheless, scalability issues have pushed developers towards identifying appropriate alternatives, choosing platforms such as Stellar or NEO.

The Ethereum blockchain is currently using the Proof of Work (PoW) consensus algorithm. It requires a substantial amount of computational power to boast satisfying performance. It can currently process between 7 to 15 transactions per second, which is quite low.  NEO’s transaction speed, for example, is a much faster 1,000 TPS.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

To their credit, Ethereum’s development team hasn’t shied away from the problem. Addressed through an update known as Casper the Friendly Finality Gadget (FFG) introduced back in October, 2017, the team seeks to remedy the issue.

First Release Rolled Out

On May 8th, Danny Ryan, the lead developer of the Casper FFG submitted the first release of the long-awaited update on GitHub.

The main proposition of Casper FFG is layering the Friendly Finality Gadget on top of an existing PoW block as a step towards the transition to a fully-fledged Proof of Stake network. This particular Ethereum Improvement Proposal (EIP) was introduced back on April 20th.

A substantial specification of the EIP is that it reduces the block reward for miners. From the current 3 ETH, it shall drop down to 0.6 ETH in an attempt to push the blockchain away from the issues which are associated with mining. It’s worth noting, though, that the new PoW block reward won’t be instantly changed to 0.6 but it shall be reduced gradually over the course of roughly one year, according to the aforementioned EIP.

The EIP reads:

Through the use of Ether deposits, slashing conditions, and a modified fork choice, FFG allows the underlying PoW blockchain to be finalized. As network security is greatly shifted from PoW to PoS, PoW block rewards are reduced.

Do you think Casper FFG will enable Ethereum to handle its current scalability issues? Please let us know in the comments below!


Images courtesy of Pixabay, AdobeStock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Georgi Georgiev

Georgi Georgiev

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2021 Bitcoinist.com. All Rights Reserved.
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.