One of the, if not the biggest, altcoins – Ethereum, has always enjoyed substantial popularity amongst investors – both new and seasoned alike. But with high demand comes high traffic, and Ethereum had got the shorter end of the stick.
To help with that and also impact the environment positively, the team came up with a solution: a merge. What is the Ethereum merge? Will the merge affect Ethereum prices? If yes, what should investors expect?
As all these questions swirl through the minds of people, expert investor Jason Fernandes breaks it down, giving us a complete low-down on what it is, what is its impact, and why we should all care.
Jason Fernandes explains, that when you hear the term “merge”, it talks about the coming together of Ethereum Mainnet and Beacon Chain.
The older Ethereum Mainnet is a proof-of-work system, while the newer, Beacon Chain is a proof-of-stake system. The merge, as put by Ethereum itself, is, “A truly exciting step in realizing the Ethereum vision – more scalability, security, and sustainability.”
So, what happens now? Jason Fernandes says, “The merge is an absolute power move. Ethereum needed this facelift, and now that it’s done, there is nowhere to go but up.”
The improved ETH has garnered attention and media coverage of such staggering proportions, adds Jason Fernandes, that there’s no way that after all that, its price will still remain the same.
With such a substantial upgrade, investors are itching to get their hands on Ethereum post-merge. While there has been a date that’s been set up, a soft deadline of 19th September 2022 has been put in place, there’s no telling when it will finally happen.
All that excitement can only do the brand well. In anticipation of such high volumes of traffic and demand, the prices are bound to shoot right up – and Jason Fernandes has no doubts about that.
Circling back, let us address the common, underlying questions of what proof-of-work and proof-of-stake is. Proof-of-work (PoW) is energy and time-consuming architecture that was widely used earlier. While it can boast of military-grade security, its many flaws have led to its downfall and replacement.
Its dependency on miners, and large carbon footprint, among others, had previously helped Ethereum’s competitors to gradually rise. Sensing this, ETH began calculating possible corrective measures.
That is where proof-of-stake comes in. PoW has been replaced by proof-of-stake (PoS). It is decidedly faster than its predecessor, and also a lot more environmentally friendly. Additionally, it eliminates the need for miners, making it a lot more convenient as well.
With several boast-worthy achievements under his belt, Jason Fernandes finds himself at the top of the industry today. Quoted and referenced by the industry’s experts has lent credibility to his voice.
“Crypto isn’t just about money for me. I enjoy spending my days challenging myself and pushing the boundaries of my comfort zone, and crypto certainly helps with that. I invest considerable time and expend plenty of energy in making sure I keep abreast with the latest news and happenings from all over the world.”, says Jason Fernandes.
Follow Jason Fernandes on Twitter at @TokenJay
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