‘ETH also has the potential to go five-figure asset post the merge’
The Ethereum mainnet is expected to soon “merge” with the beacon chain proof-of-stake system, thus ending proof-of-work for the ETH blockchain.
Mainnet will bring the ability to run smart contracts into the proof-of-stake system, plus the full history and the current state of Ethereum, to ensure that the transition is smooth for all ETH holders and users.
Just recently, the Ethereum Foundation announced that the “merge” has been successfully conducted on the Kiln testnet. The event took place on 15 March, with Ethereum’s developers lauding the landmark occasion. With this, the beacon chain has merged with the Kiln testnet.
The Kiln testnet is the final public testnet before the transition to proof-of-stake, which should occur later this year. This is a major milestone for the Ethereum network as it prepares to go through with some of its biggest changes since its inception.
In fact, an official Ethereum Foundation post reads, “Application & tooling developers, node operators, infrastructure providers and stakers are strongly encouraged to test on Kiln to ensure a smooth transition on existing public testnets.”
“The probability of ETH net deflationary consistently is quite high post the merge,” said Brian Krogsgard, Co-Founder, CMO of Flip during an appearance on a podcast. Furthermore, he went on to add,
“Bitcoiners are going to have to question themselves if they have less utility and mildly inflationary instead of deflationary regularly. ETH also has the potential to go five-figure asset post the merge.”
Curiously, he also claimed that the merge will likely be deployed in a bear market. What this means is that the market may not take to the merge immediately.
Looking at the current chart, the market may be gearing up for some
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