“Rocket Launch” — Observer on Ethereum’s post-merge future

The Ethereum merger is set to take place later today, and the energy-efficiency-focused transition is expected to have a major impact on cryptocurrency investment and adoption, experts say.

Speaking to Cointelegraph about the merger, StarkWare president and co-founder Eli Ben-Sasson said the Ethereum merger would be “the first step in a process that will lead to very widespread adoption of Ethereum.” .

The immediate significance of merging is its dramatic effect on energy consumption.

The merge is expected to reduce Ethereum’s energy by 99.95% compared to the current Proof of Work (PoW) consensus mechanism. It requires using a large amount of energy in a competition to solve any mathematical puzzle.

“I think the merger is kind of like the development of the first solar field,” added Ben-Sasson.

“We have found that we can reduce the environmental impact of power generation. The time has come to redouble our efforts. ”

I’m thrilled to never have to hear about “Ommer Block” again.

(Okay, I know “ommer” is a gender-neutral alternative to “uncle,” but *sounds* like an insult to anyone who meditates.)

Oh, and save electricity. It’s cool too.

—vitalik.eth (@VitalikButerin) September 14, 2022

Ben-Sasson believes that the end result for ordinary people to use blockchain-based apps in various areas of their lives will be “as natural as it is for people to use smartphone apps today.”

Asher Tan, CEO of crypto exchange Coinjar, said Merge would change the narrative about cryptocurrencies more broadly, saying it was very rare for the tech sector to “carry out a significant reduction in energy intensity.” points out.

“I think people underestimate the importance of a 99.95% reduction in energy usage after the merger,” said Tan.

This will bring the Ethereum network to general acceptance and open the door to investors and businesses that have been averse to cryptocurrencies due to their carbon footprint.

While there is optimism about Ethereum’s transition, there is still debate as to whether the merger is already baked into the price of Ether (ETH).

Charmin Ho, head of crypto insights at crypto exchange Bybit, said analysts at the firm said there was “no consensus” among institutional investors and market makers regarding short-term trading around The Merge. He concluded, but said he would likely accumulate ETH and become a hodler instead. .

Related: 10 Hours to Ethereum Merge: What You Need to Know

On the other hand, most within the Ethereum “bubble” seem unconcerned about whether the merge will succeed.

Ethereum co-founder Joseph Rubin told Bloomberg yesterday, transition There will be little confusion between developers and users, and it will be “smooth as if the iPhone or laptop upgraded its operating system overnight.”

StarkWare’s Ben-Sasson also believes the transition will be a smooth one, stating, “The Ethereum Foundation has meticulously prepared for this moment, inspiring a lot of confidence. ‘ suggests.

“When the first block is produced by Proof of Stake, it will be a significant mark of success. But this is like completing a rocket launch. There is still the rest of the journey ahead of us. There is, and that brings us challenges.”

Rubin suggests that, in his opinion, this is the third most important event in the crypto space after the development of Bitcoin and Ethereum.