Crypto arm of Visa shares interesting report on Ethereum $ETH Merge, check it out w/ digitalmustafa and cuysheffield
First of all, the authors highlighted that this event was really game-changing for Ethereum's sustainability, eco-friendliness and resource-efficiency. Regarding these aspects, this is the most impressive transition in tech history so far:
It is estimated that transitioning from PoW to PoS will decrease Ethereum's energy consumption by 99.95%. It is the first demonstration of a system of this size that reduces carbon footprints solely through innovation and redesign.Meanwhile, when it comes to decentralization and security, the activation of The Merge might look like a double-edged sword for Ethereum in the long run.
The whale-style domination of the largest miners can be replaced by the oligarchy of staking entities since the 32 ETH threshold for a validation node is too high for Ethereum enthusiasts. As such, staking pools can gain too much control over Ethereum's progress thanks to the large amount of Ether staked by their clients.The same observations work for the scaling prospects of the largest smart contracts platform.
As such, Visa cryptocurrency experts will closely monitor the next developments in the Ethereum 2.0 roadmap to decide on whether it is ready to play a significant role in the global cross-border payments system: The development of scalability and security features in Ethereum 2.0 over the next few years will be critical in shaping the network's ability to be used for broader payment use cases.
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