The revamp is currently anticipated to go live on Thursday in most time zones, according to market players, a little later than previously expected.The ethereum network underpins a range of projects in the crypto world including non fungible tokens - a crypto asset, representing an intangible digital item such as an image, video, or in-game item - as well many decentralised finance applications.Ether has rallied ahead of the upgrade, rising 40% in the past 15 days from a recent low.
The upgrade, known as the Ethereum Improvement Proposal 1559, will alter the way transactions are processed and provide clearer pricing for them.Pantera Capital Chief Executive Dan Morehead told the Reuters Global Markets Forum this week that the changes will help ether trade more like a fixed asset and make it more attractive as a store of wealth.
Cryptocurrency exchanges Binance and OKEX said earlier this week that they were expecting the upgrade to occur at about 11:55 GMT on Aug. 5.Sign up for our newsletter Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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