According to Ki Yong Joo, the London update will have a positive impact on the Ethereum blockchain, increasing its scalability, security and decentralization.
CryptoQuant CEO Ki Yong Joo, in an interview with Chinese crypto journalist Willie Wu, predicted that Ethereum will outperform Bitcoin in market capitalization in the long term.
This is how Joo commented on the London hard fork due to take place on the altcoin network on August 5.
According to the head of CryptoQuant, the update will increase the scalability, security and decentralization of the Ethereum blockchain.
In anticipation of the release of the London update, the largest altcoin in terms of capitalization has risen in price by almost 5% per day. on August 5, Ethereum is trading at $ 2.63K.
According to Ethnodes , the London hard fork will take place on block 12,965,000. Altcoin update will be another step in the transition to protocol 2.0
Ethereum 2.0 will allow the original blockchain to scale and make it more user-friendly.
The main feature of the update is the network’s transition to Proof-of-Stake (PoS) consensus – it will replace the Proof of Work (PoW) consensus, which the blockchain is currently running on.
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