The Ethereum community is counting down the hours until the merge. Developers have already set the moment when the merger of the two networks will finally happen, leaving behind the proof of work (PoW) to make way for the proof of stake (PoS).
This historic migration keeps expectations high. Many have blind faith that “nothing bad will happen“, while others remain expectant about what might happen.
Some figures, such as Evan Van Ness, founder of WeekInEthereum, say that once the merger takes place, “it will be a moral imperative to move from Bitcoin to Ethereum“. He believes that because Ethereum will consume 99% less energy. It should be noted that Van Ness has always had a rather aggressive position in favor of Ethereum and against Bitcoin, being considered by some users as a “Ethereum maximalist“. Van Ness refuses to be called a maximalist.
This investor even scoffed at the way the “maximalists” of bitcoin have removed their laser eyes. He believes this is due to the Ethereum merger and its importance in the ecosystem.
On the other hand, messages from “The Merge is coming“a reference to the series Games of Thrones and the phrase “Winter is coming” – have been trending among various Ethereum users and personalities.
(The Merge: The Album … is coming.)https://t.co/FFNNiQBXg3 pic.twitter.com/ufIIhIXYc9
– Jonathan Mann (@songadaymann) September 10, 2022
Like an end-of-year gathering with a countdown, the Ethereum community has organized a series of events in countries around the region this September 14 to see the arrival of the Merge. There will even be a stream to follow the event.
Not everyone is celebrating the merge
Despite the good expectations shared by the Ethereum community, not everything seems to be rosy within the ecosystem. Several prominent figures have spoken out about the risk of centralization that the change in consensus protocol could bring. Economist and bitcoiner José Antonio Bravo says that the merger “will probably work” but that “the security of Ethereum will be in the hands of a few pools“.
Samson Mow, who worked with the government of El Salvador on the launch of bitcoin bonds, said he had “reviewed“the merger. According to him, its initiation is not related to the rules of the protocol, but to the rules set by the developers. In other words, the merge is a coordinated effort by people to set the threshold at which such an event will occur. Samson Mow criticizes this as a “farce“and a way to “to hide the centralization“.
Samson Mow compared the situation that this does not happen in bitcoin, since in this network updates are based on the consensus of the network nodes, not on the decision of a few people.