Wednesday, November 30, 2022
HomeCrypto NewsMarketLeandro Lopes CTO: Ethereum Merge Has Not Changed Anything for Users 

Leandro Lopes CTO: Ethereum Merge Has Not Changed Anything for Users 

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Stanislav Scharapow is yet to see the importance of Ethereum Merge for investors.  

Despite the enticing features associated with Ethereum Merge, Ethereum’s transition from a Proof-of-Work (PoW) model to Proof-of-Stake, investors are yet to enjoy these benefits. 

According to a Forbes report today, Stanislav Scharapow, CTO of Portuguese designer Leandro Lopes, said the Merge is yet to usher in any significant changes that will affect how users interact with the network. 

“The Merge only affected Ethereum’s price, which makes transactions a bit cheaper in fiat. There are concerns about possible network overtake by big money, but from a user and developer’s point of view, nothing has really changed for us,” Scharapow said. 

On the contrary, Nigel Green, CEO of traditional asset management firm deVere Group said news of Ethereum Merge deployment is yet to price in as he thinks the event will eventually become a major catalyst that will boost the token’s price in the future. 

Green added that institutional investors will be attracted to Ethereum as energy and transaction costs become lower. 

Ethereum’s transition to a PoS algorithm consensus helped lower the network’s transaction and energy costs, as well as bolster transaction speed. 

ETH Price Slump After Merge Upgrade

However, the launch of Ethereum Merge has caused a reduction in the price of the cryptocurrency. Following the launch of Ethereum Merge on September 15, the price of the cryptocurrency has slumped nearly 10%, with many investors becoming infuriated with the upgrade. 

Before the upgrade went live, the price of ETH traded above $1,500. Unfortunately, ETH price has slumped below the $1,500 level since September 15. At press time, ETH is changing hands at $1,290, according to data from Coingecko

Investors Blame Ethereum Merge

Although Fed’s efforts to curb rising inflation in the U.S. contributed to the underperformance of several digital currencies, including ETH, some investors still believe Ethereum Merge plays a pivotal role in the asset’s bearish price. 

Ethereum’s transition to a Proof-of-Stake algorithm left miners behind. To continue the crypto mining activities, Ethereum miners, led by Chandler Guo, carried out a network fork, which gave birth to EthereumPoW (ETHW). Many investors who prefer the PoW model also followed these miners to the recently forked Ethereum network. 

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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