More

    Vitalik Buterin: A Big Moment for the Ethereum Ecosystem as the Merge Completes

    Ethereum creator Vitalik Buterin has been tweeting regularly this past week addressing the Merge where Ethereum moves from Proof of Work (PoW) to Proof of Stake (PoS). The transition is expected to extend the runway for Ethereum which is the most popular smart contract platform in the open blockchain world. The transition will also dramatically reduce the energy consumption and transaction times for the Ethereum blockchain – long a sticking point for detractors of the distributed ledger technology. Some have claimed that the Merge will reduce worldwide electricity consumption by a whopping 0.2% – obviously, this is a difficult percentage to estimate but the point has been made.

    The Merge will also up Ethereum’s game against the growing number of challengers seeking to offer a better ecosystem able to handle transactions at scale.

    In recent weeks some industry insiders questioned whether the Merge would be pulled off without a hitch as of this moment, Ethereum is performing up to expectations and congratulations are pouring in across the blockchain world.

    So what’s next? Well, the fork of Ethereum which will maintain the PoW process is poised to enter the crypto-sphere in the coming hours. Platforms have been determining how they will manage this fork for weeks now. It is not a foregone conclusion the fork will succeed but then, this is the crypto world.

    Additionally, Ethereum competitors will not sit still and simply observe – challengers will be upping their game. The regulated world is winning the distributed ledger conversation – most importantly securities, inevitably most digital assets will fall under some sort of regulatory oversight. This will take some time as the transition from centralized to distributed processes remains in the early days.

    Vitalik Buterin: A Big Moment for the Ethereum Ecosystem as the Merge Completes Republished from Source https://www.crowdfundinsider.com/2022/09/196017-vitalik-buterin-a-big-moment-for-the-ethereum-ecosystem-as-the-merge-completes/ via https://www.crowdfundinsider.com/feed/

    Recent Articles

    spot_img

    Related Stories

    Stay on op - Ge the daily news in your inbox