Ethereum at Two-Month Peak after major Goerli test

Ether at Two-Month Peak on the Signs of Success in Key Software Tests - Ether at Two-Month Peak

One of the most significant changes in the sector of the criptocurrency could be paved by the fact that a plan to upgrade the Ethereum blockchain passed a major test and hit a more than two month high.

The token went up as much as 4.1% on Thursday and was close to $1,878 as of 9 a.m. in London -- more than double a June low below $900 and far outpacing the rebound inBitcoin over the period.

Ether is the native coin of the most important commercial blockchain and its ride higher atop the optimism surrounding the merger, as the planned network upgrade is known as the nascent coin of this year has become a symbol of the nascent rebound from this year's painful rout.

The Goerli test conducted late Wednesday New York time was a dress rehearsal for switching the proof-of-work network to a more energy-efficient proof-of-stake system. Vitalik Buterin retweeted a post saying the test had activated proof-of- stake. Tim Beiko, a computer scientist who coordinates the development of ether, posted a screenshot that the test of the planned merge had been successful, according to a tweet by Tim Beiko. Kunal Goel, a research analyst at Messari, said the Goerli test had been passed.

The software upgrade has been in the works for years, and the dominant role of ether as a commercial highway in criptocurrency underlines the sensitivity of the change.

The block chain supports more than 3,400 active decentralization apps, allowing for everything from gaming to trading. The coin has a $229 billion market value, according to CoinMarketCap.

On Thursday, the developers of Ethereum can set the date for when the network undergoes the long-anticipated software update.