The Merge is Ethereum's chance to take over Bitcoin, researcher says
The Merge scheduled to take place in September will cause Ethereum Mainnet to shift to PoS
By Shashank Bhardwaj
Image: Shutterstock
Ethereum researcher Vivek Raman opines that Ethereum is looking to dethrone Bitcoin and take the position of the major crypto asset in its upcoming Merge upgrade. The Merge, an upgrade gearing to take place in September, would convert Ethereum from a proof-of-work to a proof-of-stake system, thereby reshaping its monetary policy. The new proof-of-stake consensus mechanism would make the process more environmentally sustainable and have large-scale effects on ETH’s supply, which is projected to decrease by 90 percent.
Raman said, “Ethereum does have, just from an economic perspective and because of the effect of the supply shock, a chance to flip Bitcoin. “ He added, “After The Merge, Ethereum will have lower inflation than Bitcoin. Especially with fee burns, Ethereum will be deflationary while Bitcoin will always be inflationary. Although, with every halving, the inflation rate goes down."
Stating that it is “one of the most impressive engineering feats in blockchain history,” Raman explained that widespread changes scheduled to happen as a part of the Merge upgrade in the Ethereum blockchain would allow it to be viewed as the more sustainable option over the long term. In his view, Bitcoin is among the likes of gold, which does not experience large movements over a period of time, thereby giving Ethereum the chance to establish itself as a more portable form of money and provide it “a larger adoption space”. He also suggested that Ethereum’s staking yield would attract institutions that want a yield to “earn validator awards and be part of a digital economy.”
It is important to note that the upcoming upgrade will not offset or affect Ethereum’s high transaction fees in any way, which has proven to be an obstacle preventing the crypto asset from scaling in the last couple of years. However, Raman stated that it should not be an issue since Ethereum would support most users’ activity by leaning on layer-2 scaling solutions.
Raman projected that transitioning to a complete proof-of-stake regime could allow Ethereum to potentially gain more value proposition than that of Bitcoin and establish itself as the eminent crypto asset.
The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash

Crypto wallet users are warned as scammers might get active during the potential Ethereum hard fork
Read More..
Major financial institutions of Wall Street come together to set up digital assets exchange with on-chain settlement
Read More..
USDT goes live on NEAR Protocol, making it the 14th blockchain network to support Tether
Read More..
Ford is all set to make a grand entry into the Metaverse with virtual automobiles and NFTs
Read More..
UK advertising authority warns two former 'Love Island' contestants for crypto ads on Instagram stories
Read More..
Voyager Digital assets auction set for September 13 in Manhattan after company declares bankruptcy
Read More..
Data claims that trademark application for crypto, NFTs and Metaverse projects increase in 2022
Read More..
IMF states that crypto regulation needs to become a priority since crypto assets are now mainstream
Read More..
Arcane's expedition for repurposing Bitcoin mining heat can solve the global energy crisis
Read More..
CHZ, LDO and QNT made a bull run in the last 90 days, surpassing returns of top cap crypto assets
Read More..
New update means Facebook and Instagram users can post NFTs through linking their digital wallets
Read More..
Chinese Metaverse incoming! Beijing unveils intentions for two-year Metaverse innovation and development plan
Read More..
Uniswap reportedly looking at NFT financialisation and is talking to several lending protocols
Read More..
Uniswap Foundation gets green light after 99 percent of the community casts their vote in favour of the initiative
Read More..
Kenanga Bank and Ant Group partner up to revolutionise the digital investment management in Malaysia
Read More..
Crypto-aware parents and college graduates want their children to learn about crypto in schools
Read More..
Ready Player Me raises $56 mn in Series B led by a16z to expand its audience in the metaverse
Read More..
Crypto market at risk of a 20 percent drop to new yearly lows after breaking dreams of recovery
Read More..
A sharp increase in hacking this year leads to crypto security experts making $430k salaries
Read More..
SkyBridge Capital's Scaramucci believes that Bitcoin won't hedge inflation until it hits 1 bn wallets
Read More..
Fei Protocol founder proposes ghosting Tribe DAO following hack repayment while Beanstalk relaunches
Read More..
Hit and earn: Indian cricket fans can win as much as $500 a day playing cricket in the metaverse
Read More..
Czech prince William Rudolf Lobkowick is preserving heirlooms from his family's 700-year-old legacy using NFTs
Read More..
CryptoPunks' trading volume surges 1,847% after Tiffany & Co. launches exclusive NFT collection
Read More..
CoinDCX's India entity FY21 profit jumps nine-fold to Rs 4.36 crore, revenue rises to Rs 38.91 crore
Read More..
KuCoin raises $10M amidst the bear market; announces plan to support Indian Web 3 startups
Read More..
Crypto market stuck for now, but Bitcoin to make new all-time-highs within 24 months: Coinshares' CSO
Read More..
Mythical games enters a strategic partnership with NFL to launch play-and-own NFT video game
Read More..
CoinDCX offers an opportunity to its users to generate crypto yield on crypto assets through it's 'Earn feature'
Read More..
Backed by Shark Tank's Kevin O'Leary, WonderFi set to acquire Canadian exchange Coinberry
Read More..