The Ethereum 'merge' has been hailed as a success by the blockchain's co-founder Vitalik Buterin. The major upgrade could now make the supply of ether "continuously reduce over time", which could then lead to a spike in the value of the cryptocurrency.
What is the merge, and how will it impact your ether holdings?
In today's The Crypto Mile Weekly update we hear from Sumit kishore, senior product manager at Consensys, who explained the reasons behind the long-awaited update and its impact on the entire cryptocurrency ecosystem.
In the interview, Kishore outlined three key reasons for Ethereum's historic upgrade:
1. Increase sustainability - cut Ethereum’s energy usage by 99.95%.
2. Enhance scalability - scale massively, by making the network ready for further upgrades.
3. Ensure security - move Ethereum to a more sustainable crypto economic model.
He also described how The Merge will make fundamental changes to the Ethereum network such as improving sustainability and security, setting it up for scalability, and offering an attractive real yield on staking.
All these changes will make Ethereum more attractive to institutional investors.
