Big crypto news in the first major week of trading in july is right in in front of you with the theorem i should say positive news obviously there's a slew of negative news especially celsius voyager all those ones but in terms of positive news. I want to talk about the theorem. I want to talk about east ethereum test net merge. Mostly successful hiccups will not delay the merge the merge remember this is why the merge matters ethereum's consensus model is going from proof of work when you need mining to proof of stake.

When you need validators now why people are so excited about this is when this occurs. It's much better on the environment as in it has less of an impact on the environment. But people who are really just following the financials of it not necessarily the esg side. You can see this on ultrasound dot money when you simulate it it actually means that ethereum is going to go from inflationary to deflationary and just from an economic financial perspective.

If the supply is going down and this demand stays the same or it goes up that means. The price also has to go up. So people are pretty excited about it. Ethereum has now completed its second to last major merge trial on the public test network sopelia sepolia.

I hope i'm pronouncing that right sepolia paving. The way for its transition to proof of stake as of right now. It's proof of work. And what they're trying to do is get the beacon chain.

Which is a side chain. That's already proof of stake. They're attempting to merge that back into the main chain. And that's what the merge is the beacon chain.

Which is proof of stake and it's where a lot of people have a lot of their money already staked and i myself. It's all locked up so i'm hoping that when this all goes through. I'll actually get access to my ethereum. So anyway.

They're going to a new consensus mechanism. It's better in terms of esg. But it also make it deflationary. While it's been judged mostly a success.

It was not incident free and we're talking about the second to the last major trial. The final trial of the merge is set to occur on the gurley network over the next few weeks before the official merge on the ethereum mainnet can be given the go ahead. So it looks like given the newest schedule and this is the type of thing. Where it's been pushed back and back and back it looks like with the newest schedule.

We're kind of sticking to it so. This is some very awesome positive news for everyone who's supportive of ethereum and just so you know for the most recent. One here's actually those incidents. We were referring to around 25 to 30 of the validators went offline after the merge due to wrong configs.

However. He added that hiccups will not delay the merge so we're getting that from one of the east devs. So things are looking pretty good for ethereum right now in terms of the transition to proof of stake. But i do have an other piece of additional piece of ethereum news for all of you ethereum scaling solution immutable x.

Will allow ether to dollar withdrawals. If you've been following gamestop and their particular nft marketplace. You're gonna know about immutablex that's why the name probably sounds a little bit familiar. But just very quickly to explain the story ethereum scaling solution immutable x.

Will allow users to receive us dollars in their bank accounts on ether withdrawals. I think that's pretty cool. The ether offramp is available to any developer building on immutable developers can enable their users to sell the layer2 based. Ether and have their proceeds deposited directly into their bank.

Accounts. So once again you're seeing this top layer improving really the financial world around us. I think. This is a pretty cool add on between ether and immutable.

So i just very quickly wanted to share it with you. But the truly exciting thing is we are one step closer to the official merge of ethereum which i think could be very very exciting for so. Many people who have been following this now for seemingly quite a while. But obviously i would love your thoughts on ethereum.

And yeah. Let me know what you think about immutable here and this connection. But really the eth merge. I think that's the exciting thing and hopefully by the time we're at the end of the summer of 2022.

Ethereum will officially be proof of stake very exciting.