Apples and oranges? How the Ethereum Merge could affect Bitcoin
Its been a month since Ethereum said goodbye to an essential feature its blockchain shared with Bitcoin (BTC). Called ang Ethereum Merge, the long-hyped upgrade was widely celebrated, with the blockchain ecosystem. However, for the mainstream audience or even for the average trader, it felt more like a Star Wars Day celebrated by sci-fi geeks than an early Christmas. Bilang Ethereum Merge occurred on Sept. 15, the most extensive blockchain ecosystem parted ways with the patunay-ng-trabaho (PoW), the energy-hungry consensus mechanism that makes Bitcoin tick. The Ethereum blockchain now works on a more eco-friendly proof-of-stake (PoS) mechanism that doesnt require any mining activities, leaving thousands of miners worldwide kumamot sa kanilang mga ulo. Price-wise, Bitcoin is yet to take a hit from the fundamental shift of its closest competitor. A whole month has passed since the Ethereum Merge, and the BTC price is still stuck between $18,000 and $20,000. However, the overarching mainstream narrative of “Bitcoin should contribute to the world, not destroy it by depleting energy resources” is rekindled with Ethereums significant switch to a system that keeps blockchain alive with minimal resource consumption. Ethereum avoided a dead end Cointelegraph reached out to industry insiders to get a clearer picture of the Ethereum Merges