Cryptocurrency Ethereum has every chance to overtake bitcoin in value

DeFi researcher Vivek Raman said that Ethereum’s transition to Proof-of-Stake (PoS) will allow ETH to overtake BTC in value.

In a post on Twitter, Vivek Raman emphasized that the upcoming transition to the green blockchain will guarantee Ethereum a better economic structure for the smart contract platform, reducing ethereum inflation and improving security.

After the transition to PoS, ethereum will be considered a digital bond, and the underlying asset will be used as collateral. The long-awaited transition of Ethereum to PoS could be a turning point for the cryptocurrency industry, as it will significantly reduce the energy consumption of the second largest blockchain.

It is currently unknown when exactly Ethereum will switch to PoS. Earlier, Vitalik Buterin assured the crypto community that the blockchain would switch to the Proof-of-Stake consensus algorithm in August. And the founder of BTC. TOP and a well-known Chinese miner Jiang Joer predicted that Ethereum’s transition to the green blockchain will take place between October and December this year.

Back in early June, the Ethereum Ropsten test network successfully switched to the PoS consensus algorithm. Now, validators are responsible for confirming transactions instead of miners. As part of the transition, the test network merged the Ropsten chain based on Proof-of-Work (PoW) and the Beacon Chain, which operates on Proof-of-Stake.