Experts Take On Ethereums Prospects After The Ethereum Merge
Categories: Crypto News ETHERUM NEWS
Experts Take OnEthereum’s Prospects After The Ethereum Merge
Experts takea look at Ethereum's prospects after the Ethereum merge Hours after theEthereum merge, industry experts have provided their perspective on thetransition to proof-of-stake and precautions regarding potential problems. TheEthereum merge is due later today, and industry observers predict that thetransition, focused on increasing energy efficiency, will significantly affectinvestment and adoption of cryptocurrencies.
In the daysleading up to the merge, Starkware president and co-founder Eli Ben-Sassonexplained that the Ethereum merge will be “the first step in the processthat will drive widespread Ethereum adoption.” Ben-Sasson spoke these wordsas Merge approached. The immediate relevance of the merge lies in its massiveeffect on the amount of energy used.
Compared to Ethereum'scurrent Proof-of-Work (PoW) consensus method, which uses enormousamounts of energy in the race to solve arbitrary mathematical problems, it isestimated that the merge would bring Ethereum's total energy use to 99.95percent. will reduce the percentage. "We found that it is possible tosignificantly reduce the negative environmental consequences of electricitygeneration."
If we aregenerating energy with less pollution, then it is time to use it carefully.Ben-Sasson is confident that the result will be one in which the generalpopulation uses applications based on blockchain technology in various aspectsof life, "and naturally as people use smartphone apps today."
According toCharmin Ho, who oversees crypto insights at cryptocurrency exchangeBybit, analysts at the company have concluded that there is “no consensus”among institutional investors and market makers regarding short-term tradingwith regard to The Merge. Instead, these parties are likely to deposit ETH andbecome holders.
While thisis occurring, most of those participating in the Ethereum “bubble” doesnot seem concerned about the Merge’s success. Joseph Lubin, one of Ethereum’sco-founders, said that he expects the move to have no impact on Ethereum’sdevelopers and users and that it would be “as seamless as if your iPhone orlaptop changed its operating system overnight.” Lubin considers this thethird most important event in the realm of cryptocurrencies, behind thebirth of Bitcoin and Ethereum. He ranks it just below the inventions of Bitcoinand Ethereum.