The Ethereum merge

By
Managing Real Estate Broker with ERA American Real Estate

Many have pointed out a flaw in Crypto one being the intense use of energy that is used to do blocks on the blockchain, transactions and minting of coins. 

I am not in the Bitcoin Maxi camp, I think thats not a good place to be that Bitcoin is the all powerful no matter what this technology will change the world and all bad things are byproducts. See statements on the environment by Jack Maller on comparing the Eth merge from proof of work to proof of stake where he calls the concern for the environment asinine stating that we dont use horses we use cars and planes with evolution of tech. 

https://fortune.com/crypto/2022/09/21/inside-look-behind-the-scenes-ethereum-merge/   “Executable Beacon Chain,” aka Eth2 sharding

I understand the concern to tamper proof and decentralized could be at risk in some peoples minds as this has only taken place this month on the change. I however think this had to be tried to see if crypto can form and function with validators approving transactions through encryption vs the computers having full control for the blockchain with proof of work and it will help the life of blockchain and lessen countries that ban it due to environmental concerns. I have seen stories that Bitcon has a consolidation issue as well where most of bitcoin is really centralized to a bulk of it being owned by a small number of people and companies. 

 

 

Posted by

Brandon Jordan, Realtor,E-PRO,ERA American Real Estate
 

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