Billionaire investor Mark Cuban has revealed that he is very excited about the Ethereum network moving from Proof-of-Work to Proof-of-Stake. This change in the Ethereum network will enable the ETH network to work and mine in a much more harmless way to the environment.
Ethereum, which is thought to be the focus of institutional investors after this transition, has still not been able to differentiate positively from Bitcoin. Mark Cuban highlights Ethereum among his investments in the crypto market.
“I think Ethereum is the most advantageous and potential investment among my investments.”
Mark Cuban believes that the leading altcoin of the crypto market, ETH, can rise even harder in the future.
Ethereum's move from a proof-of-work approach to a proof-of-stake approach has two major benefits for American billionaire Mark Cuban. He thinks the so-called Consolidation will significantly reduce Ethereum's energy use and perhaps turn it into a deflationary asset.
PoW mining will be phased out in favor of PoS this summer, making the Ethereum blockchain system more environmentally friendly and significantly reducing gas costs. Dallas Mavericks owner Mark Cuban believes Ethereum's upcoming update will help ground the project. According to Cuban, Ethereum will be much more environmentally friendly and will be used more widely. This change will make Ether a "probably" deflationary asset.
It seems that Mark Cuban has a very positive outlook on Ethereum. In October of last year, Cuban urged newcomers to the crypto world to invest in ETH as it has the highest potential.
Despite being against it before, Mark Cuban now stands out as an enthusiastic supporter. Many digital assets are accepted by the club as means of payment for tickets and merchandise, including the meme currency Dogecoin, one of the digital assets accepted by NBA club Dallas Mavericks.