JPMorgan Claims The Merge And Shanghai Upgrades Have Made Ethereum More Centralized. Here’s Why ⋆ ZyCrypto
Ethereum JPMorgan Claims The Merge And Shanghai Upgrades Have Made Ethereum More Centralized. Heres Why ⋆ ZyCrypto Balita ng Ethereum ng Bitcoin As the industrys second-largest blockchain, Ethereum, continues on its journey toward a more sustainable and decentralized future, it faces a conundrum: did the switch to a proof of stake (PoS) security model make the network more centralized? JPMorgan analysts believe it did. Masyado bang Sentralisado ang Ethereum? Ethereums transition to PoS was celebrated as a key upgrade. However, over a year later, some industry observers fear the Merge and subsequent Shanghai upgrades have pushed Ethereum toward more centralization. In a research report on Thursday, JPMorgan analysts led by Nikolaos Panigirtzoglou noted that: Ethereums so-called Merge to PoS was successfully completed in September 2022, ushering in staking. The historic Shanghai upgrade executed in April of this year allowed network participants to un-stake and withdraw their tokens, which resulted in skyrocketing staking. The Merge replaced the way transactions were verified on the Ethereum network. Instead of miners putting in their computational power to verify a transaction, validators now pledge Ether tokens to verify those transactions. Although that has already reduced the energy consumption of Ethereum by 99.99%, it also means that a considerable portion of the ether securing