While the week of September 19th is still 50 days away, the crypto community has been discussing whether ethereum developers will push back The Merge’s scheduled date. Additionally, on July 27, a survey by cryptocurrency hedge fund Galois Capital posted on Twitter showed that more than 33 percent of respondents believed that Ethereum could be split in two again.
Postponed merger in September
Ethereum (ETH) and Ethereum Classic (ETC) prices surged against the U.S. dollar after the so-called scheduled date for The Merge was announced. Ethereum developer and Beacon Chain community lead Superphiz explained that “the timeline is not final,” but the planned timeline he shared suggested that The Merge could be implemented the week of September 19. Essentially, The Merge will go from a proof-of-work (PoW) chain to a proof-of-stake (PoS) consensus model.
Almost immediately after the announcement, the price of Ethereum surged after a previous bear market downturn. In the past 30 days, ETH has gained 62.4% against the US dollar. However, as the date gets closer and the hype dwindles, people are now wondering if Ethereum developers will delay the Merge fork.The theme of the postponed merger is Topic conversation on social media this weekend.one person wrote:
I think everyone is so focused on The Merge’s September deadline that they think everything has to be worked out in the next few months. But what if the Ethereum Foundation postponed it again?
Ethereum Supporter Says It’s a “Low-Probability Bear Scenario” If Merger Delays
There are multiple Twitter threads discussing the possibility of The Merge’s delay as well as countless theoretical scenarios. A self-proclaimed “retired degen” by the name of Chris has posted a post showing The Merge’s advantages, if it’s implemented successfully and without problems.
Chris persist in The merger will drop the blockchain network’s energy usage by 99.95%, which will deflate ETH and institutional investors will flock to the project. However, Chris further suggested that if The Merge is delayed again, a bear market scenario could emerge.
“A low-probability bear case is if the merger is delayed again,” Chris explain. “Latency is unlikely as developers are confident enough to set a date for the event. But then some testnets have not migrated from PoW to PoS. Namely Ethereum’s Goelri and Sepolia.”
Galois Capital investigation sparks ETH2 delays and chain split discussions
Except for a lot of tweets discuss Talking about merger being delayed, crypto hedge fund Galois Capital shared a survey It asked people if they thought Ethereum would split into two chains after The Merge was implemented. 53.7% of respondents said the merger would go smoothly, but 33.1% believed the chain could split. If it does split, there will be PoW and PoS tokens even though a PoW version of ETH already exists.
The Ethereum Classic (ETC) network was introduced after its 2016 fork to fix the DAO hack, and 51.8% of respondents to a Galois Capital survey believe ETH miners will transition to ETC.
Galois Capital Survey also ask If there is no small chance, stablecoin company Tether will support PoW tokens spun off from the PoS ETH network. However, Tether CTO Paolo Ardoino Say On Sunday, Tether plans to “support ETH2.”Adoino also emphasize “Support for ETH2 will be seamless,” he said Add to:
It has nothing to do with what I/we prefer between PoW/PoS. Stablecoins should act responsibly and avoid disruption to users.especially to [decentralized finance] It’s really subtle.
What do you think of the recent discussions surrounding The Merge upgrade and questions about the possibility of Ethereum splitting into two chains? Do you think there will be delays or issues with The Merge when implementing the upgrade? Let us know what you think about this topic in the comments section below.
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