Ethereum News | Ethereum Price Is Seeing A Bloodbath After The Merge | ETH Merge Risks

Ethereum News | Ethereum Price Is Seeing A Bloodbath After The Merge | ETH Merge Risks thumbnail

Ethereum News | Ethereum Price Is Seeing A Bloodbath After The Merge | ETH Merge Risks

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We are pleased to welcome you to our Ethereum News Video!

The much-discussed merge is, without getting too technical, the joining of Ethereum’s existing execution layer (the Mainnet), with its new proof of stake consensus layer (the Beacon Chain). This eliminates the need to mine energy intensively and instead secures the network with staked ETH. A more sustainable and scalable Ethereum network will emerge.

Although Bitcoin is the most well-known cryptocurrency, it has been deemed false because it consumes huge amounts of electricity. However, the merger will allow Ethereum to move forward.

Some risks
The merge will take 13 seconds and more than 150 Ethereum developers are tracking every second, but there are still risks. First, there is the possibility of centralization or governance. Ethereum is now moving towards proof of stake, meaning that the validators for transactions will not be the miners anymore but the stakers.

At the time this article was written, 60% holds the majority of the stake. What happens if these parties are required to vote against transactions or against the new Ethereum Improvement Proposal by authorities?

Scams are another concern. Scams are another concern. The Ethereum network, along with other crypto communities, has been using “ETH2” as a term for the proof-of stake layer. This can lead to confusion and scams that try to exploit users during the transition. They are made to believe they must upgrade to ETH2 (or swap their tokens for newer ones).

The miners left without any mining resources after the merger are called the “stuck” miners. Since the beginning, Mainnet, a proof-of-work Ethereum network has depended on miners for validation of blockchain transactions. They have been investing in expensive equipment for years to ensure stability and security of the network, which is returned to them with freshly minted Ethereum.

They might decide to keep using the Mainnet, an old Ethereum chain, in order to recover the costs. Although it is unlikely, this could result in a fork that will create two distinct Ethereum chains.

Two major parties have already indicated that they support the proof-of–stake chain. Chainlink, the largest oracle network and USDC by Circle, the largest stable coin, announced their support for the proof-of-stake blockchain. For smaller decentralized applications that have chosen Ethereum to be their preferred blockchain, it will be an “adapt or die” situation. They can either stick with the existing Ethereum chain, which could become obsolete, or they can adapt.

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This information is provided for informational purposes only. This information is not intended to be considered financial or tax advice. This video contains only the views of the speaker, who is not licensed to be a financial advisor or registered investor advisor. The risk of losing cryptocurrencies trading is high. The speaker cannot guarantee any outcome.

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TimeStamps

00: 00 The Merge Introduction Is A Bloodbath For Ethereum.
00: 35 The Merge Project Summary: The Ethereum Price is Seeing a Bloodbath
12: The Merge Project Outro Is Seeing A Bloodbath.