Sunday, June 4, 2023
No Result
View All Result
Crypeto News
Smarter_way_USA
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Blockchain
    • Ethereum
    • Altcoin
    • Mining
    • Crypto Exchanges
  • NFT
  • DeFi
  • Web3
  • Metaverse
  • Analysis
  • Regulations
  • Scam Alert
  • Videos
CRYPTO MARKETCAP
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Blockchain
    • Ethereum
    • Altcoin
    • Mining
    • Crypto Exchanges
  • NFT
  • DeFi
  • Web3
  • Metaverse
  • Analysis
  • Regulations
  • Scam Alert
  • Videos
CRYPTO MARKETCAP
Crypeto News
No Result
View All Result

How To Retire Off Of Crypto : ethereum

by crypetonews
September 14, 2022
in Ethereum
Reading Time: 3 mins read
0 0
A A
0
Home Ethereum
Share on FacebookShare on Twitter


Here’s a recent headline on Reuters: “Ethereum blockchain to undergo major upgrade to cut energy use”

I’m seeing a lot of media reports that focus heavily on the fact that energy usage will decline rapidly under Proof of Stake, with some reports making it seem like it’s the main reason for the merge.

However, this is incorrect – I see the cut in energy use as more of a positive side effect of the merge. The main benefits are improved tokenomics (yield, burning, etc provides more rationale for fundamental value than before), and it may help lay the groundwork for future upgrades that eventually help with scaling.

It’s not a bad narrative for Ethereum proponents, because at least people who know nothing about crypto and buy this carbon narrative will now be incrementally more supportive of Ethereum. And maybe it’s easier to explain than the real reason for the average person. But it’s still kind of weird how uninformed the press coverage about crypto is.

Actually kind of positive for Ethereum that they aren’t focusing on the yield component – which if they were it might make it incrementally more likely we get SEC style regulation under the premise it’s a security / equity-like.

Edit: Olmops noted that some articles from before the big climate FUD wave did refer to the reduction in energy use from Proof of Stake as a key benefit.

I also do see more recent articles where Consensys / Vitalik / Ethereum Foundation place a lot of emphasis on the energy consumption reduction.

If I had to guess, I’d expect this is PR.

I do continue to believe the energy reduction isn’t the primary reason the developers chose to do this but I thought this was an important caveat to call out given this post has gotten a lot of views.

My view is: Ethereum has super expensive gas fees and has not been very scalable which drove an explosion in funding for competitor L1 chains like Solana. The merge allows for sharding which should help alongside rollups to make Ethereum more scalable. I think it would be tough for Ethereum to compete with newer / faster chains without a scaling roadmap.

In addition, by creating a yield / burning component, there is more rationale for the token to be valuable. It is my belief that a token can not have fundamental value based on just utility supply and demand. It’s unclear to me if the future cash flows will be sufficient to justify Ethereum’s price in the long run particularly as there is fee competition and market share loss with other chains – but we’ll see.

Another point MoneroArbo brought up is that the PoS switch does shift who has power over the network as well, which could possibly factor into the decision making of the developers.

Note that Vitalik had an article called “Why Proof of Stake” https://vitalik.ca/general/2020/11/06/pos2020.html

He lists the reasons as:

– PoS offers more security for the same cost

– Attacks are much easier to recover from in proof of stake”

– Proof of stake is more decentralized than ASICs



Source link

Tags: cryptoethereumRetire
Previous Post

Ethereum Mainstay Hudson Jameson on What Makes the Merge Monumental

Next Post

Bitcoin ETF Inflows Returns After Abysmal Phase

Related Posts

OscarSwap com | $OSCAR | DEX Live on Arbitrum | L2 Bridge | Farming Live | Staking | Mobile App | Binance Live | KYC | Doxed | CertiK Audit | 62.5 ETH raised on pinksale | Launching 19:30 UTC on June 1st Sushiswap
Ethereum

OscarSwap com | $OSCAR | DEX Live on Arbitrum | L2 Bridge | Farming Live | Staking | Mobile App | Binance Live | KYC | Doxed | CertiK Audit | 62.5 ETH raised on pinksale | Launching 19:30 UTC on June 1st Sushiswap

June 1, 2023
Ethereum Protocol Fellowship – Fourth Cohort Applications Are Open!
Ethereum

Ethereum Protocol Fellowship – Fourth Cohort Applications Are Open!

June 1, 2023
plexidelic: chatGPT summaries for addresses
Ethereum

plexidelic: chatGPT summaries for addresses

May 31, 2023
Celo Hackathon Series, Part 2: Social Sign-In, May 22nd – June 15
Ethereum

Celo Hackathon Series, Part 2: Social Sign-In, May 22nd – June 15

May 25, 2023
Fake Vitalik Buterin! Be careful! Help ban the scammer!
Ethereum

Fake Vitalik Buterin! Be careful! Help ban the scammer!

May 18, 2023
Un mois après la mise à jour Shapella — les retraits sont arrivés, record d’ETH déposés
Ethereum

Un mois après la mise à jour Shapella — les retraits sont arrivés, record d’ETH déposés

May 12, 2023
Next Post
Bitcoin ETF Inflows Returns After Abysmal Phase

Bitcoin ETF Inflows Returns After Abysmal Phase

Québec City museum picks design for $42.5m new pavilion devoted to Jean-Paul Riopelle

Québec City museum picks design for $42.5m new pavilion devoted to Jean-Paul Riopelle

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Palm Beach art dealer sentenced to over two years in prison for blue-chip art fraud scheme
NFT

Palm Beach art dealer sentenced to over two years in prison for blue-chip art fraud scheme

by crypetonews
May 31, 2023
0

A Palm Beach art dealer was sentenced to more than two years in prison this week after pleading guilty to...

Lenovo Debuts ThinkReality VRX in UK

Lenovo Debuts ThinkReality VRX in UK

May 31, 2023
Pro-Bitcoin Legislation Reigns Victorious In Texas This Year As The Legislative Session Ends

Pro-Bitcoin Legislation Reigns Victorious In Texas This Year As The Legislative Session Ends

May 30, 2023
Newfields and the Indianapolis Museum of Art seek to turn a corner after ‘triple tragedies’

Newfields and the Indianapolis Museum of Art seek to turn a corner after ‘triple tragedies’

May 30, 2023
Crypto exchange Bybit announces exit from Canadian market

Crypto exchange Bybit announces exit from Canadian market

May 30, 2023
Metacade price prediction for June: buy the MCADE dip

Metacade price prediction for June: buy the MCADE dip

June 1, 2023
  • Trending
  • Comments
  • Latest
What is the Erigon Node Consensus Layer?

What is the Erigon Node Consensus Layer?

February 15, 2023
146 Top Executives Urge Biden to Prevent US Default — Warns of ‘Disastrous Consequences’

146 Top Executives Urge Biden to Prevent US Default — Warns of ‘Disastrous Consequences’

May 17, 2023
Secured #5: Public Vulnerability Disclosures Update

Secured #5: Public Vulnerability Disclosures Update

May 3, 2023
Exchange Giant Coinbase Adds Custody Support for 14 Ethereum (ETH)-Based Altcoins, Spurring Rallies Up to 20%

Exchange Giant Coinbase Adds Custody Support for 14 Ethereum (ETH)-Based Altcoins, Spurring Rallies Up to 20%

October 27, 2022
3 Things We Learned at Tornado Cash Dev Alexey Pertsev’s Trial – CoinDesk : ethereum

3 Things We Learned at Tornado Cash Dev Alexey Pertsev’s Trial – CoinDesk : ethereum

November 23, 2022
Crypto Whales Spend Millions Buying the Dip on PEPE As Prices Drop: On-Chain Data

Crypto Whales Spend Millions Buying the Dip on PEPE As Prices Drop: On-Chain Data

May 12, 2023
PEPE Crypto Price News Today – Technical Analysis and Elliott Wave Analysis and Price Prediction!

PEPE Crypto Price News Today – Technical Analysis and Elliott Wave Analysis and Price Prediction!

24
BITCOIN: CRASH TO $24,000 GUARANTEED!?!?!?!? 3 HUGE REASONS!! BTC + Crypto Price Prediction Analysis

BITCOIN: CRASH TO $24,000 GUARANTEED!?!?!?!? 3 HUGE REASONS!! BTC + Crypto Price Prediction Analysis

20
Ending Logan Paul's Biggest Scam

Ending Logan Paul's Biggest Scam

40
⚠️*HUGEEE*⚠️ IT'S MAKE OR BREAK FOR BITCOIN !⚠️Crypto BTC Price Prediction/Cryptocurrency News Today

⚠️*HUGEEE*⚠️ IT'S MAKE OR BREAK FOR BITCOIN !⚠️Crypto BTC Price Prediction/Cryptocurrency News Today

24
I ATTENDED A 3 HR 'CRYPTO SCAM' WEBINAR | WFABB iGenius

I ATTENDED A 3 HR 'CRYPTO SCAM' WEBINAR | WFABB iGenius

38
ARE NFTS OFFICIALLY DEAD? NFT COLLAPSE EXPLAINED!

ARE NFTS OFFICIALLY DEAD? NFT COLLAPSE EXPLAINED!

34
TRX/USD Spikes to Touch $0.085 Level

TRX/USD Spikes to Touch $0.085 Level

June 3, 2023
Gaming-Focused Layer-2 Crypto Project Surges by Over 90% After Announcement of New $80,000,000 Ecosystem Fund

Gaming-Focused Layer-2 Crypto Project Surges by Over 90% After Announcement of New $80,000,000 Ecosystem Fund

June 3, 2023
As DigiToads is On Track to Raise $5 Million in Presale, Aave and Polkadot Struggle for New Investors

As DigiToads is On Track to Raise $5 Million in Presale, Aave and Polkadot Struggle for New Investors

June 3, 2023
With Major Memecoins Crashing, Wall Street Memes Could Provide a Better Option

With Major Memecoins Crashing, Wall Street Memes Could Provide a Better Option

June 3, 2023
Trump’s Persistent Election Result Denials Demonstrate The Need For Bitcoin-Verified Truth

Trump’s Persistent Election Result Denials Demonstrate The Need For Bitcoin-Verified Truth

June 3, 2023
Popular Crypto Analyst Bullish on One Ethereum-Based Altcoin, Says It’s Showing ‘Solid Strength’

Popular Crypto Analyst Bullish on One Ethereum-Based Altcoin, Says It’s Showing ‘Solid Strength’

June 3, 2023
Crypeto News

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Crypeto News.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Videos
  • Web3

LATEST UPDATES

  • TRX/USD Spikes to Touch $0.085 Level
  • Gaming-Focused Layer-2 Crypto Project Surges by Over 90% After Announcement of New $80,000,000 Ecosystem Fund
  • As DigiToads is On Track to Raise $5 Million in Presale, Aave and Polkadot Struggle for New Investors
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 Crypeto News.
Crypeto News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Blockchain
    • Ethereum
    • Altcoin
    • Mining
    • Crypto Exchanges
  • NFT
  • DeFi
  • Web3
  • Metaverse
  • Analysis
  • Regulations
  • Scam Alert
  • Videos

Copyright © 2022 Crypeto News.
Crypeto News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In