Expert Warns Of ‘Issues’ With Ethereum Merge Despite Overall Success
As the hype builds up for the much anticipated Ethereum network upgrade, the community would hope for a smooth transition. Ethereum’s shift to the proof of stake mechanism could prove to be one of the most important events of 2022. However, there could be some issues that the ecosystem need to take care of for Ethereum Merge to be a success. Ethereum (ETH) investors, however, have no role to play in the technical shift but indeed benefit massively.
The Merge is set to be triggered at the Terminal Total Difficulty (TTD) of 58750000000000000000000. This will officially mark the network’s transition to proof of stake consensus. Meanwhile, blockchain experts warn of potential ‘issues’ during the Merge. Vitalik Buterin, the Ethereum co-founder, indicated that the Merge could happen between September 13-15.
Issues With Ethereum Merge?
Crypto insiders recently predicted that the Ethereum Merge could most likely be a successful event. Certain influencers said there are 10% chances that the transition could face hurdles. In similar lines, Kristin Smith, executive director of the Blockchain Association, said there could be small issues. Speaking to CNBC, Smith said The Merge could most likely be successful.
“I think it will be mostly successful but I am sure there will be small issues that need to be worked out. More Ethereum tokens are going to need to be locked up in order to run the operations of the network.”
Meanwhile, Ethereum’s (ETH) price appears to be retracing after the recent upsurge due to The Merge anticipation. As of writing, ETH price stands at $1,748, down 1.06% in the last 24 hours, according to price tracking platform CoinMarketCap. Over the last one week, ETH price rose by around 10.88%.
The Merge Readiness
Meanwhile, around 85% of clients are now ready for the network upgrade. With around 99.64% readiness, the Ethereum ecosystem is all set for the transition to proof of stake consensus.
- John Bollinger Sees ‘W’ Bottom Forming in Ethereum and Solana, Not Bitcoin
- Robert Kiyosaki Calls Bitcoin and Ethereum ‘Real Money,’ Urges Investors to Ditch ‘Fake’ Fiat
- ‘Sell Gold, Buy Bitcoin’: Expert Flags Major Market Bottom Signal
- Ripple Makes ‘Unusual’ $500M Transfer Amid $1 Billion XRP Treasury Plans
- ‘I’m Going Bonkers’: Dave Portnoy Says He’ll Buy XRP Again If It Dips Below This Level
- Solana Price Prediction: Analyst Notes Bearish Breakdown Amid Derivatives Slowdown
- Shiba Inu Price Eyes Recovery as Burn Rate Jumps 10,785% – Can SHIB Hit $0.000016?
- Ethereum (ETH) Price Prediction: Analyst Eyes $7,000 by Q4 as Bitmine Accumulates $281M ETH — Will History Repeat Itself?
- HYPE Price Teeters Amid Weak Technicals and Soaring Liquidations
- XRP Price Prediction As Ripple Announces $1B Treasury Plans – Is a Rebound Imminent?
- Bitcoin Price Prediction Amid Gold’s Parabolic Rally to Second-Largest Reserve Asset
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
