Ethereum News: Ethereum goes Shanghai – what will the next big upgrade bring? Ecoterra raises $1.3 million Chapter –

Ethereum News: Ethereum goes Shanghai - what will the next big upgrade bring?  Ecoterra raises $1.3 million Chapter -

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On April 12, the time finally came and Ethereum implemented the next upgrade after “The Merge” with “Shanghai”. Although the first major upgrade was due to the change to the proof-of-concept consensus mechanism, the stacked ethers on the beacon chain were unlocked again with Shanghai. That’s about 16 million coins, which is 14% of the total supply.

Why “The Merge?”

In terms of environmental and climate protection, cryptocurrencies have long had a bad reputation. This is mainly due to the Proof-of-Work consensus mechanism, which Bitcoin, for example, uses to verify transactions. With PoW, the miners have to solve complex algorithmic calculations. Whoever succeeds first can enter the new block into the blockchain and as a result receives Bitcoin as a reward. At the same time, all old transactions are saved in the background.

For this, the miners need high-performance hardware – which runs 24 hours a day, seven days a week, with the corresponding energy consumption. An entire industry has now developed around mining, some of which are data centers, to put it mildly, not exactly in countries known for sustainable energy production. The PoW also has another disadvantage: the mechanism is extremely slow. Until “The Merge”, Ethereum used a PoW consensus mechanism. In September 2022, the upgrade combined the legacy Ethereum Blockchain and the Proof-of-Stake Beacon Blockchain. This reduced the energy requirement by around 99%. However, the change had a positive side effect, in addition to the Layer 2 solution, the gas charges also dropped.

Unlike The Merge – the price of ether is rising

Contrary to expectations, however, the price of ether fell after “The Merge” to around 1,300 US dollars. Then came the bankruptcy of crypto exchange FTX in November, which also left its mark on ether – although it didn’t hit Ethereum as hard as Bitcoin.

The situation is very different after the Shanghai upgrade, although experts feared that investors would withdraw their coins and sell them in droves. The price of ether exploded and is now settled at around 2,000 US dollars. Over the course of the year, further improvements are to be made to Ethereum and transactions will become even faster and fees cheaper.

Ecoterra wants to revolutionize the circular economy

As mentioned above, the reputation of cryptos in terms of environment, climate protection and sustainability is not the best. This has also come in the crypto world. It is very positive that a coin as big as Ethereum has switched to the proof-of-concept consensus mechanism. However, it remains to be seen whether Bitcoin will follow suit at some point. However, there are now many other crypto projects that focus on environmental issues. One of them is Ecoterra. The new platform aims to revolutionize the circular economy using blockchain and cryptos. So far, the project has managed to collect about 1.3 million US dollars to raise capital and has incidentally invented a new genre in the metaverse: Recycling for Earnings.

Rethinking recycling

Ecoterra empty vending machines and deposit machines play a central role. If you bring in empties in the form of returnable bottles or aluminum cans, you will usually get a refund. Ecoterra users also receive ECOTERRA tokens after scanning the receipt. These can be monetized, spent on the scene or donated to projects dedicated to environmental protection. Ecoterra wants to create incentives for private individuals to recycle more. The project is also very interesting for companies. The blockchain makes recycling transparent and understandable, which stops the so-called greenwashing – and gives a not-so-important advantage in terms of customer loyalty. The project is also planning a marketplace for recycling companies and suppliers and a marketplace for carbon offsets.

Ecoterra is already in partnership with the Delhaize (Lion) supermarket chain, whose stores are spread across Europe, North America and Asia. In addition, brands like Vittel, Heineken or Dr. Pepper can be found in the Ecoterra product database. To expand this, Ecoterra is now looking to partner with the parent companies.

The heart of the Ecoterra ecosystem: the ECOTERRA token

The Ecoterra Token can currently be purchased in the PreSale. The third phase of nine in total is currently underway. Currently the price of ECOTERRA is at $0.0055. In the ninth and final step, a token costs $0.01. This is also the price at which the coin is then listed on the crypto exchanges. So if you strike now and secure the ECOTERRA at a low pre-sale price, you can look forward to a book profit at the end of the pre-sale.

Why the Ecoterra is worth investing in

The environment, climate protection and sustainability will take more and more space. Climate change has long reached our latitude, as has plastic pollution in rivers, seas and lakes. Ecoterra wants to revolutionize the circular economy and ensure that new products are mainly made from recycled materials. That starts with the consumers. With the reward system, Ecoterra creates an additional incentive so that bottles end up in the deposit machine in the future – and not in nature. In addition, the recycling industry is an industry of the future with an estimated value of 63 billion US dollars – and the trend is rising.

Last updated on April 17, 2023

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