Ethereum co-founder Vitalik Butterin celebrated the success of The Merge, calling it a “great moment for the Ethereum ecosystem.” “Everyone who helped make the merger should feel very proud today. Happy merger everyone,” he said, adding, “And we’re done!”
The Fusion: advantages
Thanks to the update, Ethereum power usage will be reduced by more than 99% and transaction speeds are expected to increase by 12%, while the cost of sending a transaction over the Ethereum network will decrease by a similar margin.
After the Ethereum Fusion, the blockchain will not need miners and users with powerful computers to solve complicated mathematical puzzles to secure the network and create new coins. Rather, miners will be replaced by ETH stakers who will perform network validation. However, there are Ethereum staking options for all investors, regardless of their funds.
Despite the boom generated by The Merge in the transition from PoW to PoS, many doubts remain about the possibility of an extreme centralization of the network.
what will happen to the price
According to experts, the change will make Ethereum increase in value in the long term, because there will be less and less of it, as if it were a scarce asset, unlike other cryptocurrencies that continue to be created through mining. Despite the advance, the cryptocurrency received this historic day with little emotion with a 1% drop and trading below $1,600.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
