MUMBAI, 8th SEPTEMBER, 2022 (GPN): With regards to the development in the upcoming merge of Ethereum blockchain, Pratik Gauri, Co-founder & CEO, 5ire, said, 

“I am personally very excited about the Ethereum Merge and the upgrade to the Proof of Stake consensus mechanism. Primarily because it will lower the network’s footprint by 99 percent. In the case of Ethereum, this would mean returning 0.1 percent of global electricity usage to people.

It seems clear that Blockchain technology is taken over by the get rich quick mob. Because although this is a great sustainable development, many miners are not willing to accept it and mainly economic reasons, hard core believers in the PoW consensus and miners plan to fork the Ethereum blockchain after the Merge.

Most leading exchanges have announced that they would review listings for any forked tokens but made no guarantees they would be accepted. So essentially, this would become a shadow token of the ETH. 

To have the community come together around the PoS, the Ethereum Foundation instituted the Ice Age feature, which makes it more difficult to mine on the PoW chain, but the PoW chain can persist with a new hard fork client to remove the Ice Age feature. Again, the economic forces of the fourth IR and for-profit mind-set is trying to find alternatives to make more money.”Ends