Experts Believe Ethereum Merge Will Build Trust In Crypto Markets

ethereum sep19 lt

Since its official unveiling last week, The Merge has become one of the most talked about subjects in the crypto universe. Now experts believe that the switch from Proof-of-Work to Proof-of-Stake strategy taken by Ethereum is going to enhance the global crypto economy.

The PoS method consumes 99.95% less power than the PoW method, already making it a more sustainable medium. Since in the PoS medium, users lock their holdings in the blockchain to create a new block, it takes the power away from the miners and gives it to a consensus mechanism or the users, who are called the validators.

In a discussion arranged by MoneyControl, Sharan Nair, co-founder of PYOR Edge, said, Ethereum used to operate through miners mining and validating transactions and in return getting rewarded. This required a lot of mining equipment or rigs which consumed a lot of energy, a concern for many. Now instead of these rigs, it will require a capital validator. Essentially, Merge will solve the problem of energy consumption."

The "gas fee" paid by the users to complete a transaction will also reduce over time and the implementation of more stages. The four other stages, Surge, Verge, Purge, and Splurge will also add to the scalability and sustainability of the crypto while making transactions more and more cost efficient in the process.

While Ethereum expects the stages to be fully operational by 2026, its effects will take time to come into full effect.

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