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There is no denying that the main topic of any discussions in the crypto domain was the upcoming Ethereum merge. It is a significant event for the whole crypto industry as it may shift many dynamics and even change the way governments are looking at mining. The switch to the proof-of-stake consensus protocol is a move that many have anticipated since it was announced more than 5 years ago.
The merge should have been a big event, but without any aplomb and overzealous debates surrounding it. However, the timing is such that we have to be frenzied to some degree. The crypto winter has been destroying the morale of the whole community despite occasional rays of light splicing the darkness. Bitcoin and Ethereum are performing well in the market, considering how hard it was hit, but we are far from being in the clear even if BTC broke through the $21K barrier with confidence.
Some experts think that the Ethereum merge will be devastating to the price of ETH which could drop to $400 after the end of the event. Many investors are hedging against the weakening of ETH by turning to its direct competitors like Cardano. However, the reality is that we don’t know how the market will react to the new PoS protocol and the first reviews from users.
What we do know is that waiting is torture. We just want this bandage to be torn off swiftly. Now, just two days before the earliest possible date of the merge, we can finally say that the network is ready for the event. The 13th shadow fork was conducted successfully on the mainnet. Developers of the network said that they did not encounter any issues and believed that the merge will occur without any problems as well.
The recent Bellatrix upgrade caused multiple missing blocks with a rate of occurrence over 1700%. It was a massive issue that temporarily threw many users into panic mode. Thankfully, everything went smoothly. At least 10% of all nodes have not yet installed the upgrade, but it is not a critical issue for the merge. Developers tested it many times and claim that we will have a very seamless transition that won’t cause any ruckus.
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