Dear ETH Crypto Fans, Mark Your Calendars for a Catalyst on Dec. 10

Ethereum (CCC:ETH-USD) is continuing to plug along this week with yet another upgrade in the pipeline. Building on a flurry of upgrades and road map updates, the Arrow Glacier upgrade is going to help the network further along its endgame road map goals; it will also help to boost the ETH crypto back toward its all-time highs.

A concept shot of the Ethereum Classic (ETC) coin
Source: Shutterstock

Through the last five months, Ethereum has already undergone two big upgrades. The London hard fork back in August reordered the network’s fee structures and introduced the Beacon Chain. The Beacon Chain holds all of the elements users want to see in Ethereum 2.0, such as a proof-of-stake consensus mechanism, on a chain that runs parallel to the main Ethereum network.

Then, the Altair upgrade set the stage for the most major upgrade, the Merge. The Merge will see the Beacon Chain and the Ethereum network collide and merge together; this will finally bring all of the long-awaited changes to the main network. Through Altair, node operators were made to upgrade their nodes to ensure everybody is on the same page and at the ready for the merger.

ETH Crypto Stands to Gain With Arrow Glacier Upgrade

Friday will bring along a more minor merger, but an important one still. The Arrow Glacier isn’t as glitzy as the London fork; rather, it is an administrative step for the developers to help prepare for Ethereum 2.0. It will also help to keep the ETH crypto from becoming weaker.

When Ethereum developers created the network, they included something called “the difficulty bomb.” This difficulty bomb exists because developers wanted to eventually transition Ethereum from a proof-of-work model to a proof-of-stake model. The bomb, when it “explodes,” will drastically slow down the speed at which miners can mine ETH, and generally make the network less usable.

The difficulty bomb incentivizes developers to work with speed to get the Merge rolled out. But, they will need a little more time to actually do this. Arrow Glacier is the solution, delaying the detonation of this difficulty bomb for a second time to keep the network from suffering as they make the final push toward Ethereum 2.0. The London hard fork was the first instance of this difficulty bomb delay, moving the date of detonation to December.

This upgrade comes in just a couple of days, on Dec. 10. This morning, ETH values are up 1%. As the date nears, ETH is also creeping back up toward its all-time high of nearly $4,900; currently, the coin is trading at $4,437.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2021/12/dear-eth-crypto-fans-mark-your-calendars-for-a-catalyst-on-dec-10/.

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