It’s going to be a big week for the crypto market.
In Thursday, the Ethereum system upgrade called the “merger” will happen., moving one of the world’s largest and most important blockchains from its current proof-of-work setup to a proof-of-stake model. The technical shift brings with it a host of questions, including what precedent it sets for rival blockchains sticking to their proof-of-work guns.
The merger is often discussed in the context of expected changes to Ethereum’s ecological weight — proof-of-stake doesn’t require the same level of computational input, meaning the blockchain won’t need to marshal a Bitcoin-like fleet of computers to support the network is working. This is good.
But if you were hoping that much more than the upgrade, wait. Other extras may be a bit further down.
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Reading through perspectives of analysts, investors and founders we collected last week on expectations for the upcoming merger changed my perspective on the event. Given how long it has been in the process of merging, you might expect it to invade and remove every part of the Ethereum blockchain. I will not.