Ethereum Merge: Date, expected outcomes & risks
Investors look forward to the highly anticipated Ethereum Merge in the crypto market tomorrow. The Ethereum blockchain will move from Proof-of-Work (PoW) to a much more efficient consensus mechanism, Proof-of-Stake (PoS). This transformation may help the blockchain to become a highly efficient ecosystem as its energy consumption is expected to be reduced by 99.95%.
The merge will transition the ecosystem into Ethereum 2.0. This new version is expected to be more secure, sustainable, and energy-saving.
However, investors are still speculating how this merger will turn out. If you are also curious, here are all the details regarding the Ethereum Merge date and the predicted outcomes.
Ethereum Merge date
The expected Ethereum Merge date is tomorrow- Thursday, September 15, 2022. The exact timing of the completion of the merger will depend on the network’s hash rate. It will be concluded when the network processes the Terminal Total Difficulty (TTD).
At the time of this writing, over 20 hours are remaining for the completion. You can also check the precise Ethereum Merge date and timing via the Google countdown.
The expected outcomes
As mentioned earlier, the reason for transforming the consensus mechanism from PoW to PoS is to limit energy consumption. With this development, its ecosystem is assumed to become 99.95% energy efficient. It may reduce the overall carbon footprint by converting it into an eco-friendly blockchain.
Energy efficiency may also help the blockchain to become more scalable. This will make it a sustainable ecosystem. Moreover, its transaction speed and security are also likely to be improved with this upgrade.
The Nansen and Kaiko analytic firms are closely studying the developments of this upgrade. The Kaiko report has shown that since July 2021, the funding rates for ETH have been negative. Furthermore, the traders are moving towards futures markets instead of spot markets. This is to gain more exposure before the upgrade.
On the other hand, Nansen’s report studied that crypto whales consistently accumulate ETH, regardless of the market’s downward trends. The report points out that the investors are optimistic about an increase in price after the merger.
Author: Wasay Ali
Wasay Ali is a versatile professional writer with global experience and a background in mechanical engineering and social science. He is adept at crafting news and informational content for the crypto space and has experience writing for other niches. He is a professional SEO content writer who has worked with several digital marketing agencies and clients in the US, UK, Pakistan, and Europe. He is a dedicated volunteer and enjoys reading, writing, poetry, and going to the gym. He is an INFJ-A personality type dedicated to positively impacting the world. Wasay has a passion for writing as it allows him to express his creativity, share his knowledge, and connect with people worldwide.