According to the Bitcoin Maximalist (BTC), Jameson Lopp, regarding his views on the discussion between Vlad Zamfir and Vitalik Buterin on the implementation of the Casper model of PoS on the blockchain of Ethereum, the transition could be fundamentally wrong. Lopp has addressed the current state of ETH and regardless of whether developers can successfully pass the Proof-of-stake algorithm.
Ethereum (ETH) and most major digital assets are typically based on the Work Proof (PoW)
) algorithm to validate and include blocks in the blockchain. The only disadvantage is that PoW requires a lot of resources. In addition to this disadvantage of the PoW concept, the algorithm can also be damaged by a 51% malicious attack.
On the other hand, the Proof-of-Stake algorithm replaces the miners with the validators. These validators will bet on some coins to validate future blocks to the blockchain. One of the main pros of the concept of PoS is that when it is compared to PoW, you will find that it eliminates the idea of spending huge amounts of resources.
Ethereum Price (ETH) today – ETH / USD
The two demonstration concepts of the fact that Ether will change into
The two proposed Proof of Stake algorithms are being discussed, to which the blockchain Ethe will pass. The models are Casper (a friendly Finality gadget) and Casper (a GHOST friendly GHOST: Correct-by-Construction). Note that Casper is not a specific project. Rather it is a fusion of two projects discussed by the developers of Ethereum.
Referring to it, Lopp said it was hard to believe that he had discovered an optimal version of what the protocol should be because it is constantly evolving. Because the work done is always reiterated and modified. Lopp also confirmed that there were many people who hold their Ether tokens to put it into play when the Possa Test is implemented. Lopp believes these people want to earn interest on their tokens and want to be validated on the blockchain.
Ethereum (ETH) could rebound to $ 220 Recent analysis shows
Last week, we found a solid bullish pattern above $ 202 and $ 210 in the ETH price compared to the USD. The ETH / USD pair also earned more than $ 220 and positioned above 100 SMAs. The pair was trading at $ 223 and subsequently started a downward correction. ETH fell below $ 220 and $ 210, but eventually the buyers appeared at the $ 206 support area.
There is a key trust model in place that found support for $ 208 through the 4-hour ETH / USD chart. The model support area is $ 206, and the 100 SMA is very important. The price of the digital asset is consolidating above the $ 206 area and has managed to overcome the resistance area of $ 210. There was a break above the level of retracement of Fibonacci of 23.6% rising from the last drop from $ 223 to $ 206. There was a push beyond the Fibonacci retracement level of 23.6% through the recent decline from $ 223 to $ 206 However, buyers are now struggling to gain momentum above $ 212-214.
The chart indicates that the price of Ethereum (ETH) is traded above the barrier of $ 206 and the simple moving average at 100. As long as there is no closure below the $ 206 area, the price may rebound over and go over $ 215 and $ 220.