The co-founder of Ethereum blockchain shared his opinion on the change in the market sentiment against Ethereum coin trade after “the merge”.
“TheMerge” is a development project of Ethereum and in this development project work, developers will shift the blockchain network of Ethereum to the Beacon chain, which works on Proof-of-stake (Pos) based model. The final development of this development work will make the Ethereum network highly efficient because after that Ethereum will no longer remain on Proof-of-work consensus.
Recently, Ethereum co-founder Vitalik Buterin appeared in an interview. During the interview, he talked about the possible situation that can arise before & after “The Merge”.
Vitalik said that the market still hasn’t priced in the network’s long-anticipated transition to proof-of-stake slated for next month. According to Vitalik, the delay in “The Merge” to shift Ethereum to the Beacon chain is changing the sentiment of the crypto investors significantly.
The Ethereum co-founder believes that outcomes after “the merge” will be better for Ethereum in terms of market price & also in terms of psychology.
“expect that the merge is going to be not priced in, by which I mean not even just market terms, but even psychological and narrative terms.”
Vitalik also indirectly hinted that new things take time, so after “TheMerge” the first efficient version of the Ethereum blockchain will take time to arrive.
“I think it’s both faster and slower. I do think that our results have been pretty mixed so far because if you compare the process of getting the Beacon Chain out the door to the process of getting ETH 1.0 out the door.”
Further Vitalik said that after the merge of the Ethereum blockchain with the Beacon chain, the team will take around 21 months to show the real impact of this development work.
Ethereum co-founder noted that the whole crypto Industry is willing to see this thing happen faster but here the developer team is trying its best to do everything without any mistake.
Read also: Thailand seeks to tighten its regulation on crypto companies
Credit: Source link
