Recent estimates indicate September 15 or 16 as the date The Merge will occur. The highly anticipated event will move Ethereum to Proof-of-Stake (PoS) – thus eliminating the need for miners to validate transactions and maintain the system.
The Ethereum protocol will become more energy efficient, with energy consumption reduced by 99.95%. Advocates also say that Merge will improve efficiency and scalability and bring about a deflationary aspect by reducing token issuance.
The bottom-to-top gain since mid-July is more than 94%, indicating that investors expect ETH prices to skyrocket further. However, whether The Merge is valued is a matter of debate.
During the event, Analyst Miles Deutscher identified 4 variables that could impact The Merge. Such is the deferral, PoW fork, and censorship resistance of the PoS chain, especially due to Tornado Cash sanctions and post-merger staking returns.
A poll conducted by @cryptovium listed four options, Ravencoin, FLUX, Ergo, and Ethereum Classic. Out of 10,347 participants, FLUX was the most popular choice, capturing almost half of the votes at 45.7%.
The results are surprising as Ethereum co-founder Vitalik Buterin recently confirmed Ethereum Classic as the PoW chain that miners should move to.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
CoinCu News
Grand Cayman, Cayman Islands, 22nd November 2024, Chainwire
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