Price of ethereum is increasing on the news of decreasing carbon emission rate

Next September 19 'Ethereum Merge' may happen. The underlying blockchain of this coin will then move from a 'proof-of-work' process to a 'proof-of-stake' process. This will reduce the carbon emission rate of this crypto currency technology to almost zero. And with this news, the price of the crypto currency Ethereum is increasing again. On Sunday, the price of ethereum exceeded 1,400 dollars, according to a report from the technology site Senate. At one point, the price of Ethereum reached 4 thousand 800 dollars. The news also mentions that the controversial cryptocurrency platform is going to reduce carbon emissions by 99.65 percent by making permanent changes to the way it operates due to power consumption. It may be noted that, since the beginning of the year, the prices of crypto currencies started falling. Ethereum was one of the hardest hit cryptocurrencies after the market crash in April. Fears of a global economic slowdown cast a shadow over Ethereum as the crypto collapsed, losing more than 60 percent of its market value. Market Crash Bitcoin, the largest cryptocurrency, lost 52 percent of its market value at the start of the year, while Ethereum lost 62 percent of its market value during the same period. And being an important part of the non-fungible token or NFT market, the fall in the price of Ethereum has adversely affected the NFT market as well. In such a situation, its makers have fixed September 19 as the possible date of the 'merge' in the conference call. The possibility of date change cannot be ruled out yet. Because, from the very beginning of the Ethereum blockchain, its creators were working with 'proof-of-stake'. There have been several attempts to implement it, but it has been delayed each time. However, this is the first time that its developers have been able to set a possible date for making permanent changes to the platform. The price of ethereum has started to rise due to the news of this decision of the manufacturers. On July 17, the price of Ethereum increased by 26 percent compared to the previous five days. As a result of the 'Ethereum Merge', the cryptographic puzzle that miners had to solve to earn new coins is no longer a part of the blockchain, Senate said. When the 'proof-of-stake' process is implemented, miners will deposit Ether tokens into a pool instead of solving crypto puzzles. Each token can be thought of as a separate lottery ticket. If the number of the token is called, the miner will have the opportunity to verify the next block and in return will earn new crypto currency as a reward.