Crypto Daily: “Proof of Stake” – Vitalik Buterin to release a book on ETH

Aug 31, 2022
06:08
2 min reading

Choise.com team

As the crypto ecosystem braces for the much anticipated Ethereum Merge, the developers are focused on educating the community. Ethereum co-founder Vitalik Buterin is set to release a book on his writings over the years about the making of the blockchain network. The book titled “Proof of Stake” comes with a tag line, “The making of Ethereum and the Philosophy of Blockchain.” While the community awaits Ethereum’s transition to proof of stake, the book could not have come at a better time.

Proof of Stake

Ethereum co-founder Vitalik Buterin in his tweet, revealed that he is set to release a book titled “Proof of Stake,” which compiles essays he has written in the last ten years, noting that buyers can purchase a signed digital copy and NFT version of the book, with his share of the proceeds going to fund public goods on Gitcoin.

“‘Proof of Stake’, the (physical and digital) book compiling various writings I’ve made over the last ~10 years, will be out in a month!
You can get a signed digital copy and NFT here: proofofstake.gitcoin.co
My share of the proceeds all goes to @gitcoin grants public goods!”
— vitalik.eth (@VitalikButerin) August 31, 2022

As highlighted by software developer and Gitcoin founder Kevin Owocki, it is the first time an ebook is signed by an author’s public Ethereum keys and issued as an NFT.The writings would reveal Buterin to be “a vivid and imaginative writer,” Gitcoindescribed.

The book is set for release on September 27, within two weeks after the scheduled timeline for the Ethereum Merge. The Merge will see the network migrate from the proof-of-work (PoW) consensus model to proof-of-stake (PoS) after nearly a decade of planning and anticipation. Notably, the move will significantly cut down the network’s carbon footprint.

Ethereum price analysis

Ethereum attempted anupside break above the $1,605 level, but struggled.Ether price dipped below the $1,520 level and the 100 hourly simple moving average. However, the bulls were active near the $1,500 and $1,480 levels. A low was formed near $1,473 and the price is now rising. There was a clear move above $1,550 and the100 hourly simple moving average.

The price rallied above the 61.8% Fib retracement level of the recent decline from the $1,605 swing high to $1,473 low. It is now consolidating near the $1,600 zone. There is also a key rising channel forming with support near $1,510 on the hourly chart of ETH/USD

It is facing resistance near the $1,620 and $1,635 levels. The next major resistance is now forming near the $1,650 level. The next major support is near $1,540 and the 100 hourly simple moving average, below which ether price gain bearish momentum.

Source: ETHUSD on TradingView.com

Technical indicators

Hourly MACD–The MACD for ETH/USD is now gaining momentum in the bullish zone

Hourly RSI–The RSI for ETH/USD is now above the 50 level

Major Support Level – The book compiles essays of the last ten years, buyers can purchase a signed digital copy and NFT version.$1,540

Major Resistance Level – $1,635

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