Post Merge Reactions of the Stakeholders

Ethereum has entered to a new era. It has successfully completed the merge. Hence it has transformed from PoW to PoS. There were a lot of attention of the curious minds of many people related with crypto industry about these.

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The stakeholders of cryptocurrency has expressed there responses at post merge situation. Today we will pick some of the stakeholders’ post merge opinion and reactions about the transition here.

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An Indian Freelance Cryptocurrency Writer, Mr. Rahul Nambiampurath has commented on an article about the post merge reaction at Investopedia mentioning the Ethereum to become more ecofriendly after the merge event:

The shift to PoS has long been planned, but the technical scale of the change was something that developers have had to keep in mind. The PoS model is believed to make Ethereum's network more secure and scalable….By reducing energy by 99.5%, Ethereum is now theoretically more eco-friendly. This has been one of the main talking points of Ethereum 2.0. However, how the upgrade will work in the coming months and how long it will take to address the scalability and gas fee issues remain to be seen.

Jarvis Labs, who is a co-founder Ben Lilly pointed out the emotional side of the event related to miners and investors, expressing that:

The Joe Cool move for ETH investors is not to get caught up in the days to come. The main player that is likely to do any sort of crazy activity is that of the miner. And that’s a one-off event that is to be short-lived. The Joe Cool move is to sit there and buy any type of overly emotional movement. Then sit back and take it easy.

Actually it was a long journey. There are still some steps to be done to become the Ethereum matured system in the newly adopted consensus mechanism. One of the Ethereum's co-creators, Mr. Vitalik Buterin who is the most visible figurehead of Ethereum now, expressed his opinion during thursday's viewing party live:

This is the first step in Ethereum's big journey towards being a very mature system, but there are still steps left to go. To me, the Merge just symbolizes the difference between early stage Ethereum, and the Ethereum we've always wanted ... to become. So let's go build out all of the other parts of this ecosystem and turn Ethereum into what we want it to be.

Ben Edgington is a product leader at the Ethereum research and development firm ConsenSys. He has shared his real-life about NFT projects to say about the post merge situation, in an interesting way as:

My daughter and I spoke about NFTs a few months ago. At the dinner table I rather foolishly mentioned some NFT projects, and she was yelling at me, ‘How can you boil the oceans with this nonsense? This is terrible. I can't believe that you do this for a living.

Justin Drake is a researcher of Ethereum Foundation. He stated at an interview with a lot of excitement about the event. He said in such a way that expresses his unbound excitement after completing the merge.

The metaphor that I use is this idea of switching out an engine from a running car. There’s a part of me which hasn’t completely realized that this is actually happening. I’m somewhat in denial, you know, because I’ve trained myself to just expect it to happen in the future.

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A renowned developer of Ethereum Foundation, Tim Beiko expressed opinion to CoinDesk pointing out the environmental impact of this conversion.

I think the Merge can genuinely get those people who were interested in Ethereum, but skeptical of the environmental impacts, to come and experiment with it.

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Thanks a lot.

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I am Tariqul Islam, from Bangladesh
I am a crypto lover, like to write about Blockchain
Very much optimistic about the entire life.