In 23 days the Ethereum community will transition to a proof-of-stake (PoS) consensus algorithm after working as a proof-of-work (PoW) blockchain since July 30, 2015. Whereas the change could not imply a lot to ethereum customers and merchants, what’s altering below the hood is a really large deal.
Subsequent month will probably be a monumental time for the Ethereum community and its contributors. The Merge will doubtless be some of the anticipated and recognizable upgrades the blockchain has seen since The DAO arduous fork. On or round September 15, 2022, Ethereum will implement The Merge and which means the chain will utterly change the consensus mechanism it as soon as used. For the reason that blockchain was created, Ethereum’s consensus mechanism has been a proof-of-work (PoW) scheme, much like Bitcoin’s consensus mechanism.
Nonetheless, as a substitute of the PoW consensus mechanism SHA256, Ethereum depends on a scheme referred to as Ethash, a PoW consensus settlement preceded by a mechanism often called Dagger-Hashimoto. The principle objective of Ethash was to supply ASIC resistance however after a number of years, Ethash ASIC miners appeared in the marketplace alongside using graphics processing items (GPUs). Just like Bitcoin’s PoW consensus algorithm, Ethash miners should put forth the computational value of buying and working ASIC or GPU miners, and utilizing electrical energy.
When The Merge takes place, Ethereum won’t depend upon miners to validate transactions. As a substitute, the community’s transactions will probably be validated by entities referred to as validators. By utilizing a PoS consensus mechanism, Ethereum validators are chosen by proudly owning 32 ether and they’re required to run three completely different items of software program which embody a validator, an execution consumer, and a consensus consumer. On the time of writing, 13,406,821 ETH has been added to the Ethereum 2.0 contract and there are greater than 416,000 validators.
The Ethereum blockchain’s roadmap has had plans to develop into a PoS chain for plenty of years. The Ethereum Basis offers six completely different the explanation why PoS is an enchancment and some of the talked about is “higher vitality effectivity.” The Ethereum Basis’s abstract of ETH’s transition to PoS additionally says that the consensus mechanism offers “decrease boundaries to entry” due to “decreased {hardware} necessities” and “there is no such thing as a want for elite {hardware} to face an opportunity of making new blocks.”
Ethereum’s proof-of-work miners, those with ASICs and GPUs, might want to mine one other crypto asset that leverages the Ethash algorithm and there are a number of that exist at this time. Miners can select from mining ethereum basic, ravencoin, ergo, beam, and presumably a brand new PoW Ethereum fork that’s created amid The Merge transition. Just a few days in the past, on August 20, 2022, Ethereum Basic’s hashrate reached an all-time excessive. Ethereum (ETH) will observe a brand new set of consensus guidelines and mining ethereum with a machine will probably be out of date. Whereas the PoS subject has been mentioned an incredible deal, improvement towards reaching the objective has been profitable as properly.
Presently, Ethereum runs a PoS chain referred to as the Beacon chain that runs parallel with the PoW blockchain community. Builders have safely docked The Merge with all three main testnets — Ropsten, Sepolia, and Goerli — and roughly 9 shadow forks have been executed. The Merge will probably be executed on Ethereum’s essential community on or round September 15, 2022, or when the whole problem reaches 58750000000000000000000. At the moment the community will merge with the PoS consensus mechanism that has been utilized to the Beacon chain, and the testnets Ropsten, Sepolia, and Goerli.
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US President Donald Trump has released his financial statement. According to the document, he received over $600 million in income from cryptocurrencies, golf clubs, licensing and other businesses. This was reported by Reuters, writes UNN.
The financial declaration was signed on June 13 and did not contain information about the period it covers. At the same time, some data in the declaration suggest that it was until the end of December 2024, which excludes most of the money raised by the Trump family’s cryptocurrency ventures.
According to the publication’s calculations, Trump declared assets worth at least $1.6 billion in total.
He previously stated that he had transferred his businesses to a trust managed by his children, but the published data indicate that income from these sources still goes to the president, which has led to accusations of conflicts of interest.
Some of Trump’s businesses in areas such as cryptocurrency are benefiting from changes in US policy under his leadership and have become a source of criticism, Reuters writes.
One meme coin issued by the president earlier this year – $TRUMP brought in approximately $320 million in commissions, although it is not publicly known how this amount was distributed between the Trump-controlled organization and its partners.
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In addition to the meme coin commissions, the Trump family earned more than $400 million from World Liberty Financial, a decentralized financial company. In his declarations, Trump indicated $57.35 million from the sale of World Liberty tokens.
The American president’s fortune also includes a significant stake in Trump Media&Technology Group (DJT.O), which owns the Truth Social social network, the report said.
In addition to assets and income from his business projects, Trump declared at least $12 million in income in the form of interest and dividends from passive investments totaling at least $211 million, according to Reuters calculations.
Trump’s three golf resorts in Jupiter, Doral and West Palm Beach, and a private members’ club in Mar-a-Lago, brought Trump at least another $217.7 million in income. Trump National Doral, a large golf center in the Miami area, was the Trump family’s largest source of income – $110.4 million.
Trump also received royalties from various deals – $1.3 million from Greenwood Bible, the “only Bible officially endorsed by Lee Greenwood and President Trump”, and $2.8 million from Trump Watches, $2.5 million from Trump Sneakers and Fragrances.
According to Reuters, the declaration often only indicates ranges of asset and income values, and the lower limit was used for calculations, so the real value of Trump’s assets and income is most likely even higher.
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The cryptocurrency market offers hundreds of different investment options, but two of them control most of the action: bitcoin and ethereum. As recently as last year, the combined market cap of both platforms made up more than 70% of the global crypto market, according to U.S. News & World Report.
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So which is a better bet for investors? During a recent interview with CoinDesk, businessman and “Shark Tank” star Kevin O’Leary suggested his preference.
Also see five reasons you need at least one bitcoin.
O’Leary shared during the interview that his preference is bitcoin. “If you want exposure to crypto volatility, it’s bitcoin,” O’Leary said. “There’s a lot of people that say, ‘I don’t need anything else … I’ll just buy bitcoin.’ And they haven’t been wrong … I think it’ll be very hard to dethrone it.”
As for ethereum, O’Leary spent much of his time bemoaning its lack of speed and efficiency.
“Goodness, ETH is slow,” he said. “I’m sorry, but it’s slow, and I think a lot of people know that. And the more transactions get piled on it, it doesn’t get any better.”
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O’Leary has plenty of company in backing bitcoin over ethereum.
Part of bitcoin’s allure is that it has become a dominant crypto force in both size and name recognition. It has grown so big that it recently leapfrogged Google parent Alphabet to rank as world’s sixth-largest asset by market cap, The Market Periodical reported.
From a pure investment standpoint, bitcoin has definitely been the better bet recently. Its price is up about 12% in 2025 as of June 13 and has gained about 56% over the past year. In contrast, ethereum’s price is down about 23% in 2025 and has lost more than 27% over the past year.
If you’re new to crypto, it’s important to understand the differences between bitcoin and ethereum, because it’s not an apples-to-apples comparison.
As U.S. News reported, bitcoin’s network uses a proof-of-work verification system. Ethereum, on the other hand, uses a proof-of-stake system, which U.S. News called “less energy-intensive.” Additionally, the main purpose of bitcoin is to serve as a digital currency that’s an alternative to other currencies, while ethereum is a platform that runs smart contracts, U.S. News explained.
According to VanEck, a New York-based investment management firm, both bitcoin and ethereum have seen their prices fluctuate significantly over the years. Despite that, VanEck noted that bitcoin has been the outperformer, remaining more stable than ethereum.
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