Vitalik Buterin, the creator and one of the lead architects behind Ethereum, has predicted that once the upcoming merger happens there will be a lot of volatility in ETH price. This is because he anticipates uncertainty about what will happen after the merge. Our article is going to take a look at what might happen to ETH when a new hard fork happens and how Vitalik’s prediction could affect ETH price prediction for 2022. As you might already know, the ETH, and ETC community has been fighting for a long time about which chain will continue to be used. The Ethereum blockchain was forked on October 22, 2016, so that those who were against the DAO Hard Fork could continue using the unforked chain. Since then, the new chain has been known as Ethereum Classic (ETC) while the hard fork supporters have gone on to call their currency Ether (ETH).
The fight between ETH, and ETC is still ongoing to this day. During this time, both chains have experienced multiple up-and-downswings in price. But now a new possibility has emerged that could finally bring an end to this conflict. This possibility is a pending Ethereum and Ethereum Classic (ETC) 2.0 hard fork that could resolve this issue once and for all. The impending hard fork could bring in an exciting development for the crypto-community as well as ETH price. Our article will show you how Vitalik Buterin’s prediction on the upcoming hard fork could affect the ETH price for 2022.
Background information about Vitalik Buterin’s prediction
Vitalik Buterin was born in Russia and moved to Canada when he was seventeen years old to pursue his higher education. Vitalik is now a well-known cryptocurrency personality who has been involved in the crypto-space since its inception, as early as 2013. Vitalik is also the author of Ethereum’s White Paper and he also serves as an Editor-In-Chief at Bitcoin Magazine. The Ethereum hard-fork that Vitalik predicted will happen involves a proposed upgrade that would change some aspects of the Ethereum network. The main difference between this hard fork and other hard forks is that it will be performed on both chains.
This means that every node in both chains has to upgrade at the same time to be able to communicate with each other and transfer funds among each other. Vitalik Buterin, the creator and one of the lead architects behind Ethereum, has predicted that once the upcoming merge happens there will be a lot of volatility in ETH price. This is because he anticipates uncertainty about what will happen after the merge.
The Ethereum Merge Resistors: Can They Succeed?
The Ethereum merge resistors are a group of Ethereum developers who have been opposing the hard fork. The purpose of this group is to ensure that all nodes in the Ethereum network are upgraded simultaneously and that the upgrade process goes without interruption. These developers have been working to eliminate any potential security risks and exploits before the hard fork happens by implementing a series of upgrades that they believe can make Ethereum safer. They believe that if there is an attempted attack upon either chain, the other chain will help protect itself against this attack. The Merger has also drawn attention from some academics at Stanford University and Princeton University as well as professors at MIT and UCL in London, who have expressed mixed opinions about this development.
What is ETHW?
The Ethereum World Computer (ETHW) is a project that aims to become the World Computer built on top of the Ethereum blockchain. ETHW wants to be capable of performing advanced operations such as artificial intelligence and other complex calculations, which can be thought of as being comparable to being a supercomputer. The ETHW team has stated that their main focus right now is on completing the development of the Ethereum Virtual Machine and optimizing its code to be able to perform as much computation as possible. The team’s ultimate goal is not just to finish this development but also to create a more efficient version of it, which will then make them even more competitive in the future when it comes time for them to grow further into becoming a World Computer.
