The rapid development of the encrypted world has led to the merger of Ethereum for a long time. However, it is less than a year since the network has fully transitioned to using Proof of Rights (PoS)
The rapid development of the encrypted world has led to the merger of Ethereum for a long time. However, it is less than a year since the network has fully transitioned to using Proof of Rights (PoS). In terms of market performance, the trading price of Ethereum is basically the same as the price at the time of the merger in September 2022. The trading price of ETH on the day before the merger was approximately $1600. However, this is only a part of the changes that have occurred in Ethereum since its merger.
energy consumption
energy consumptionBTCPoWPoSZYenergy consumptionCrypto Carbon Ratings InstituteCCRIenergy consumption99.99%99.99%
Cryptocurrency restrictions have attracted widespread attention due to their high degree of uncertainty, and therefore factors related to environmental, social, and governance (ESG), such as ESG ratings, may become factors widely adopted in cryptocurrencies. Some investment institutions, including BlackRock and Fidelity, adopt a strict attitude towards cryptocurrencies. However, the merger of Ethereum has made these opposing voices no longer equally important.
Liquidity ZY
Liquidity ZYJDuneLiquidity ZYJETH2696Liquidity ZY22.44%
However, the upgrade of Ethereum has also raised concerns about centralization and funding review systems. People are concerned that the control of verifying online transactions may be concentrated in the hands of a few people, whether it is companies or projects, making it easier for users to centralize and receive ZY rewards. Due to Coinbase's sponsorship of a group of tornado cash users to file lawsuits against US operators and OFAC, some people expressed concerns about Coinbase and other JYS involving ZY due to sanctions related to US service tornado cash before the Ethereum merger.
Lido FinanceLidoZYETH32.3%LidoCoinGeckoSTETHLiquidity ZYDB138DETHRETH9.12
Liquidity ZYLiquidity ZYETHZYDDJYSLiquidity ZY
Expansion Solution
Expansion SolutionL2Beat9TPS10Vitalik Buterin7
However, to address the current limitations of Ethereum, an increasing number of scalable solutions are emerging in the cryptocurrency field. According to L2Beat's data, the average TPS between all Ethereum L2 networks now exceeds 50, which has significantly improved compared to last year. Overall, the well-known L2 network zkSync Era, Optimism, and Arbitration Nova has had a total of over 61 million transactions in the past 30 days. This is a doubling of the number of Ethereum transactions during the same period. It can be said that the integration of Ethereum's underlying security has created opportunities for the recent support of L2 technology. Overall, this merger has indeed laid the foundation for further enhancing scalability.
epilogue
It includes the introduction of a feature called proto banking, which, once fully implemented, is expected to generate over 100.000 Ethereum transactions per second. Other features under development, such as account abstraction, will effectively make managing encrypted wallets as simple as managing email accounts. Earlier this month, during blockchain week in South Korea, Vitalik spoke about a feature called "StatelessClients" that made it possible to run Ethereum nodes on smartphones.
Looking back, compared to the volatility of the encryption market and corporate failures in 2022, this merger seems to be just a common event in the history of encryption. But from a future perspective, this may be a beacon that illuminates the overall direction of the development of the ether, leading people to re believe that Ethereum can achieve these major technological upgrades and achieve grand goals; Although the development speed of Ethereum may be slower than we hope, it will continue to move forward and uphold its own values.
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