Will the Bitcoin Vs. Ethereum Merge Boosts the Price of Bitcoin?

Introduction

If you’re an investor in the cryptocurrency markets, you’re probably wondering if the Bitcoin vs. Ethereum Merge will boost the overall bitcoin price. The reason is that the merger is happening when the crypto market is experiencing a downturn. The market has lost nearly $2 trillion in value since November, which has dampened investor appetite. While this situation might seem ominous, many Ether fans are hopeful for a return of bullish sentiment. They differ from Bitcoin exchanges because they don’t offer a way to buy bitcoins with other currencies. Bitcoins can be purchased and traded on the BitQS website.

Ethereum’s new process will rely instead on what’s called proof-of-stake

Proof of stake is a method in which large holders of ETH are required to “stake” their coins to verify other users’ transactions. This process helps ensure the integrity of the blockchain. It also makes it harder for bad actors to control half the network.

The Merge represents a significant change in the way the Ethereum blockchain works. It is one of the most significant changes to the underlying operation of a blockchain in history. Its consequences are likely to be wide-ranging and surprising.

The new process is expected to bring several benefits, including increased throughput, reduced transaction time, and lower transaction fees. It will also be less resource-intensive than the current proof-of-work process. The new consensus method will be based on staked collateral rather than on the computing power of individuals.

It will lower Ethereum’s energy consumption by 99%

A cryptocurrency network known as Ethereum, which runs Ether, the second-most-valuable digital currency, is about to undergo a software upgrade that will dramatically reduce the energy usage of the network. The change, dubbed “the Merge” by crypto fans, will reduce the energy consumption of Ethereum by up to 99%. The network’s previous energy usage was reportedly enough to power Finland for a year.

While the Merge is expected to lower Ethereum’s energy consumption, critics point out that it is not an instant fix. It’s a process that has been in the works for seven years. This merger could result in the biggest owners of Ethereum gaining outsize power and moving away from the decentralized ethos of the network.

It could go wrong

Ethereum and Bitcoin are the two most popular cryptocurrencies in the crypto space. Both have seen massive demand in the past year. But is it possible for one of them to overtake the other? This is a question that still has some skeptics. It may be impossible for one to predict the future of either currency, but some experts believe that it will happen someday.

Currently, Ether trades at $1,600 and represents roughly one-fifth of the crypto’s total market cap. Back-of-the-napkin math suggests that the Ethereum price could reach $3,050 before the cryptocurrency would see “The Flippening.” However, this would only occur if bitcoin’s price holds steady at its current level.

It could delay the merger.

It’s possible that the Bitcoin vs. Ethereum merger could be delayed by a few weeks. Currently, the two projects are expected to merge sometime in late 2018, but a developer involved in Ethereum said he doesn’t have a precise date. Despite this, it’s very likely that the merger will occur within the next few months. This will be an essential milestone for the two projects because it will end the PoW process on the Ethereum blockchain. However, if the merger is delayed, it could undermine developer confidence even further.

Another factor that could delay the merger is the competition between the two blockchains. Many Ethereum users have invested much money into their projects in anticipation of the union. However, it’s important to remember that switch-ups take time. As such, it’s crucial for Ethereum to put all its effort into the Merge and not write it off as a failure. As a result, it’s important for both projects to stay focused and pay attention to their environment to avoid mistakes.

It could lead to a fork.

Ethereum needs a Merge, which will fundamentally change the code base of the network. The Ethereum core team has worked on this for years, but the proposal has been delayed multiple times. It has been speculated that the Merge will use the PoS system, which is already widely used in several other major blockchains. However, it is unclear whether or not the Merge will lead to a fork.

While it is unclear whether or not the Merge will lead to a fork, it is essential to note that the ETC fork happened under different circumstances than the one that occurred in ETH. For example, ETC is much smaller than ETH, with a market cap of only US$4.9 billion. As such, the Merge could potentially lead to a hard fork. 

Conclusion

It’s hard to say whether Bitcoin Vs. Ethereum Merge will boost the price of Bitcoin. But it will probably impact the cryptocurrency’s worth in the long run. That’s because it is happening amid a crypto market downturn that has wiped out $2 trillion value. Ether fans hope this merger will spur a bull market that will make the crypto more appealing to investors.