Merge shifts Ethereum to full proof-of-stake, price slumps
Dogecoin, the now second-largest proof-of-work cryptocurrency, consumes far less energy than Bitcoin, but even it isn't immune fromThe Ethereum Organization said there were several things users thought the Merge would accomplish that simplypart of the plan. Most notably, the Merge would not speed up the Ethereum network in any substantial way, and that it will still be just as expensive to get a transaction added.
The busier the Ethereum network, the higher the gas fees, and despite a massive reduction in processing power needed to validate a block under PoS, the Ethereum Organization said nothing has changed"that directly influence[s] network capacity or throughput." "Historically, on proof-of-work, the target was to have a new block every ~13.3 seconds. Under proof-of-stake, slots occur precisely every 12 seconds … this was a fairly insignificant change and is unlikely to be noticed by users," the Ethereum Organization said.
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