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Ether rallies as Ethereum’s shadow fork 9 goes live 

Ether rallies as Ethereum’s shadow fork 9 goes live 

The token is trading at $1210, up 9.41% at 13:30 PM IST, with a live market cap of $146,212,643,440 and a circulating supply of 121,552,895 ETH.     

The token is trading at $1210, up 9.41% at 13:30 PM IST, with a live market cap of $146,212,643,440 and a circulating supply of 121,552,895 ETH.       The token is trading at $1210, up 9.41% at 13:30 PM IST, with a live market cap of $146,212,643,440 and a circulating supply of 121,552,895 ETH.     

The Ether token, native to the Ethereum network rallied over 11 per cent intraday over the last 24 hours after the network’s shadow fork 9 went live.  

The cryptocurrency was trading at $1077 in the wee hours of Friday morning and zoomed to $1213 at around 7:50 AM IST, CoinMarketCap data showed. The token showed a 11.877 per cent uptrend intraday.  

  

Data as per CoinMarketCap

  

The token was trading at $1210, up 9.41 per cent at 13:30 PM IST, with a live market cap of $146,212,643,440 and a circulating supply of 121,552,895 ETH.  

What does a shadow fork do?  

A shadow fork is primarily responsible for evaluating and testing a few minor changes that will eventually lead to the final merge. The success of Ethereum network’s shadow fork 9 has brought the blockchain closer to its final testnet merge. There were no major issues after the shadow fork at 0:00 UTC. The split went live earlier than expected.  

What will happen after the final transition?  

The Ethereum blockchain, which hosts the majority of crypto projects on its network, is getting closer to its transition from proof of work to proof of stake consensus mechanism. The final transition would involve several such test runs to weed out errors in the technology.  

Previous test runs  

On July 6, the network completed the Ethereum Sepolia testing run. The most recent shadow fork 9 release focused mostly on the Maximal Extractable Value (MEV) enhancement feature.  

The MEV feature is primarily concerned with how yield will be earned and generated for network validators once the transition to proof-of-stake has been completed.  

The future of Ethereum  

The final testnet, the Goerli testnet is expected to occur next month, paving way for the final merge. It is anticipated that the final integration would be finished by the end of this year.  

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