Is the Ethereum Merge Hype Justified?

Ethereum Mainnet Struck With Rug and Pull Exploit
  • The Merge is a milestone in development but implementation success is pending.
  • Functioning of Ethereum is largely in the US geography, which is a boon and bane.

Ethereum merge hurricane has crossed the crypto market in the last week, and the hype pre-and post-merge was enormous. But the verdict prevailing in the market among the different genres of blockchain participants is contradictory. One half is welcoming and the other considers it to be over plugged.

The updates are milestones in the development sector but the implementation success is still pending. The celebration parties have started a little soon in the Ethereum community. The value addition after the merge is only in the environmental sector, which is kind of already prevailing in other L2 chains.

Much-Hyped Ethereum Merge

William de Vogelaere, co-founder of a crypto exchange shared his thought stating that Ethereum was more of an “Ethereum’s delusion”. And it was a mistake by the Ethereum firm. The environmental concerns reflected will not impress the corporates if the product doesn’t yield any profitable numbers in the audit sheets. 

As per one of the Ethereum miners, the shift from Proof-of-Work (PoW) to Proof-of-Stake (PoS), is necessary but the timing might be wrong. 

Kristy Leigh-Minehan, Ethereum miner stated:

“It was necessary and required for future optimizations and scalability features-the question everyone needs to ask themselves is: was now the right time?” 

The functioning of Ethereum is largely in the US geography, which is a boon and bane to the network. And currently, the US Securities and Exchange Commission (SEC) is also trying to climb authority over Ethereum using this aspect. 

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