Adam Hardej

Sep 15, 2022·Newsletter

The ETH Merge Is Here

The ETH Merge Is Here

Is it just me or does it seem like the Ethereum Merge (i.e. from the Proof-of-Work to the Proof-of-Stake Consensus Mechanism) was a way bigger deal last Christmas when my crypto-bro-cousin got drunk and couldn't stop talking about it?

The fact is that this is a massive achievement from a technical perspective, but it's coming at a time when a lot of popular culture has moved on. The gas wars are over and owning a picture of a rock doesn't seem as cool as it once did. ETH is not reacting as many thought it would—it’s currently down ~8% post merge.

That being said, this is a huge moment in crypto history and for open source software more generally. This also serves a "no news is good news" situation in terms of how smooth this transition went technically. The work of Vitalk Buterin & co to make this a reality will have a profound impact (like reducing worldwide electricity consumption by 0.2%) and sets the stage for (hopefully) not paying $1,000 in gas fees during the next bull run...

Other stonky stuff to be aware of:

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