After previewing Ethereum’s merge event last week, it’s time to look back on the big day and see where it’s left us. Is the post-merge world any different from the world of proof of work Ethereum?
Happily the merge went to plan and there were no issues - the sense of relief was palpable. Less happily, the euphoria that followed the merge evaporated in the blink of an eye. The gloomy economic situation that the world economy finds itself in has not gone away and these pressures continue to press down hard on the crypto market. Not even one of the most seismic events in the history of computing could change that fact.
So, there’s bad news and good news to be aware of. In the latter category, rising interest rates, untamed inflation, continuing geopolitical tensions and war are just a few that spring to mind. Crypto also faces its own unique threats. The SEC considers all cryptos bar Bitcoin’s BTC to be securities, while there are also concerns around proof of stake Ethereum’s vulnerability to regulatory capture and even protocol-level censorship. Worrying times.
But, it’s not all bad. The investment case for ETH has been strengthened by the success of the merge and - long term - investors will look more favourably on it. The massive reduction in electricity usage, as well as ETH’s future as a deflationary asset, are both enormous positives. And, there are further improvements in the work, being undertaken by a team of developers who have more than proven their expertise.
So, as the merge recedes in the rear-view mirror, why not join us for one last look back, before we turn our gaze once more to the future? It may look rough, but better times lie beyond the horizon.
We hope you enjoy the show.
Executive Producer for iHeartMedia: Noel Brown
Editor: Sam Moult
Theme music composed by: Noel Brown
See omnystudio.com/listener for privacy information.
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