Input Output CEO Charles Hoskinson said the Merge changes nothing in terms of performance, operating cost, and liquidity.
Eth 2.0 requires Shanghai which is next year minimum by their own release schedule. My prediction is still on target. You do understand that nothing has changed in terms of performance, operating cost, nor liquidity?
— Charles Hoskinson (@IOHK_Charles) September 15, 2022
After months of build-up, the Ethereum Merge happened on September 15 at around 08:00 UTC. Vitalik Buterin commented that the event was a milestone moment for Ethereum and that he is proud of the efforts of all involved that made it happen.
The Merge refers to joining the Proof-of-Work(PoW) execution layer to the concurrently running Proof-of-Stake (PoS) Beacon chain consensus layer, thus rendering the PoW chain obsolete. Proponents say the switch to PoS will make Ethereum more secure, scalable, and eco-friendly.
The Merge is not Ethereum 2.0
Hoskinson’s comments came in response to a Twitter user mocking him for saying Ethereum 2.0 will likely occur in 2024.
In response, the IO boss said ETH 2.0 refers to the final product and that the Merge is just one step in getting there. As such, a 2024 release date “is still on target.”
To hammer home his point, Hoskinson said the Merge will not improve Ethereum’s “performance, operating cost, nor liquidity.”
Staked ETH is currently locked into the contract and cannot be withdrawn. The Shanghai fork will enable validators to withdraw their staked tokens.
Other milestones are the surge, which will add sharding for better scaling via lower operating costs. The verge, or the implementation of “Verkle trees” (a mathematical proof) to minimize data storage requirements. The purge to further cut the protocol’s store history for better data efficiency. And the splurge for whatever is deemed “fun” enough to implement.
Proof-of-Stake under fire
PoS relies on validators rather than miners to validate transactions and secure the…
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