Ethereum “Merge” Has Finally Happened – First-Day Recap and Bullish Consequences for Bitcoin.
Bitcoin is more than ever your only option to take power over your money and your life.
After several years of waiting, the “Merge” of the Ethereum Blockchain finally took place on September 15, 2022. Ethereum is a network that is now more centralized than ever and runs on Proof-of-Stake (PoS).
As usual with this type of overly anticipated event, the price of Ether dropped quickly afterward. But that doesn't have any significance on the longer-term impacts for Ethereum. To find out more, we will have to be patient and see how it evolves over the next few months and years.
On the other hand, I think it is interesting to summarize this first Proof-of-Stake for Ethereum 2.0 while reflecting on the long-term consequences for Bitcoin.
Logically, the Hash Rate of the Ethereum Blockchain is no longer a data point to follow, since there are no more miners, only validators. While Bitcoin is breaking records in terms of Hash Rate on its network, the Ethereum Blockchain is now secured by validators.
