Pounding heartbeats, chilling nerves and goosebumps, yes, the gigantic Ethereum merge is happening. Since the merge date announcement, a wave of excitement, confusion and speculation dominated the crypto community. Per experts, the revolutionary upgrade to the proof-of-stake mechanism will dramatically change the blockchain and its price. Earlier, Ethereum’s ecosystem consumed high-end energy, often as a stumbling block to swift transactions. However, the staking protocol will prove both sustainable and accessible for the crypto community.
How significant is the merge proof for Ethereum?
The crypto industry has been eagerly waiting for the evolutionary upgrade to happen; well, the dream will come true on Sep 15 finally after a long wait. One of the primary concern cryptocurrencies faces is that the technology supporting its circulation poses a threat to the environment. Ethereum developers intend to address this emerging issue by shifting to a more sustainable and productive protocol.
The blockchain experienced low transaction speed and massive carbon emissions using proof-of-work consensus. The merge is expected to cut the carbon footprints. Another distinctive change is related to the Ether price; experts believe the upgrade aims to reduce the issuing of total ETH per block, which will result in cheaper transactions. Well, Ether’s price is not bound by the transaction volume; several other components act as a catalyst.
It’s still unclear whether the merge will impact the prices of ETH. However, one thing is for sure- the upgrade will significantly bring positive changes to the productivity and sustainability of the blockchain.
What do investors need to know about the merge?
Let’s look at the performance of Ethereum over the years. Despite the high-power consumption issue, we notice it has achieved a reputation among crypto investors after bitcoin. As the merge news made headlines, crypto investors are in an uncertain situation. Per reports, the prices might rise to $10,000, just another speculation by some market experts.
We must wait for the merger to happen successfully, which will give all an idea of how the upgrade will affect investors. However, specific components require a quick check when investing in Ethereum post-merge; here are some you need to understand.
- Individuals who have already staked an amount on Ether before the merge need not worry about their funds because the merge won’t impact the holders’ investment. You can access your capital post-upgrade without any issues.
- In the case you use a non-validating node, a significant change that will greet you is the need for running clients for both the consensus and execution layer.
- The revolutionary merge won’t minimize the gas fees because it’s just a change in the consensus mechanism, which won’t influence the network capacity.
According to the statement by Vitalik Buterin, founder of Ethereum, the merge will occur on Sep 15 around 10 p.m. We really hope the upgrade to proof-of-stake happens swiftly and enables the crypto community to reap benefits.
Good luck to Ethereum developers!