Ethereum Whales And Investors Buying The Dip As “The Merge FOMO Kicks In ⋆ ZyCrypto - BitcoinEthereumNews.com
Ethereums much-anticipated Merge is finally close to fruition and that is sending ripples across the layer-1 network with investors now buying the ETH dip in hoards to avoid missing the train. Since launching the “metropolis phase” in the autumn of 2017 aimed at solving challenges that come with expansion and growth, it was outrightly clear that for the network to receive its rightful global attention, its carbon footprint has to be sized down by roughly 99%. Several upgrades have been rolled out since then leading up to the current “serenity phase.” This phase has been a work in progress since January 2020 and is mainly focused on reducing network congestions as well as the persistent problem of high energy consumption that comes with the PoW mechanism. The merge is thus the final iteration of Ethereums transition to proof of work. Last week, Ethereum developers successfully ran “Ropsten” the first of the three major tests before completing the merge. The merge is not only expected to lower energy consumption on the network but also improve the current token burn mechanism, theoretically driving up ETH prices. Moreover, Eth 2.0 is envisioned to be more secure, sustainable, and scalable. This, in addition to the Eth 2.0 staking