Ethereum Price Surges after Hard Fork Announcement

Written by Talha Hameed ·  55 sec read >

Ethereum reached a two-month high on Monday, by trading around $330. There was also an immense increase in trading volume, which rose from $600 million to $2.2 billion. Ethereum has seen a surge by growing 70% within a month and by 4000% in a year. On the other hand Bitcoin, cryptocurrency with largest market capital, reached a 7 day low and traded less than $4000.

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Apparently, investor’s confidence in Ethereum increased after the announcement of Metropolis hard fork. also started supporting Ethereum on its wallets, which also had a positive impact on Ethereum community.

Ethereum developers announced to carry the first big update by the end of September 2017. This announcement for Ethereum hard fork comes six months after they revealed their 2017 roadmap, and within a month of Bitcoin hard fork, which resulted in the creation of Bitcoin Cash, and.

Following is expected from Metropolis hard fork

  • Increased flexibility for smart contract developers
  • Easier programming for programmers
  • Increase in development of decentralized applications within Ethereum ecosystem
  • Users will be offered more anonymity as compared to the past because of new “Zero-knowledge proofs”.
  • “Difficulty Bomb” will make mining exponentially difficult

As compared to Bitcoin, Ethereum’s hard fork have been non-controversial and have increased network security and flexibility. Metropolis is not the only planned update for Ethereum. Another update, called Serenity, is expected to be the breakthrough. However, Ethereum hasn’t announced any date for Serenity.

See also: If you had invested 1 lakh in Bitcoins 5 years ago, it would be worth Rs 2.5 crore now