Ethereum is moving onto its next advancement soon with the ‘MERGE’ protocol. The Merge protocol adjoins the present execution layer to the Proof-of-Stake, the Beacon chain. The Proof-of-Stake helps eliminate energy-intensive mining and secures the complete network using staked ETH. Introducing the merge will bring some great changes to the chain: sustainability, scalability and security.
A Slight Transit to a Different Universe
In a recent interview with us, Raoul Pal – former Goldman Sachs executive discussed his expectation from the $ETH to perform in both short term and long term run. The upcoming protocol upgrade – Merge, will be launched soon in Mid September. This upgrade will help Ethereum transit from Proof-of-Work to Proof-of-Stake.
It’s important to remember that the beacon chain is initially shipped separately from the Ethereum Mainnet. The ethereum mainnet will work as usual for a while with all its accounts, balances, smart contracts, and blockchain state. The network will be secured by the Proof-of-Work while the Proof-of-Stake will work parallely. The Merge will take place when the two protocols will come together to work in the network as one, replacing proof-of-work completely.
Thought of travelling to the other world? Maybe an interstellar shift? Imagine Ethereum to be a ship you need for an interstellar voyage. But, it lacks some requirement to do so. We make some super speed engines and add the modules to the previous ones to make it perfect. And splash you’re good to go. This is what the merge protocol will do to the ethereum blockchain. The new engine will make the chain more efficient and ready to travel lightyears in a snap.
About Raoul Pal
Raoul Pal introduced Global Macro Investor (GMI) back in 2005. Prior to that he used co-manage the GLG Macro Fund in London for GLG partners, an asset management company. Pal also managed the European hedge fund sales business in Equities and Equity derivatives at Goldman Sachs. He is now the CEO of finance and business video streaming channel Real Vision.
A few years back Raoul explained he believes the Bitcoin market to reach 10 trillion USD in the future. Backing his statement he said, “After all, it isn’t just a currency or even a store of value. It is an entire trusted, verified, secure financial and accounting system of digital value that can never be created outside of the cryptographic algorithm. It is nothing short of the future of our entire medium of exchange system, and of money itself and the platform on which it operates.”
Pal seems comparatively more bullish on Ethereum than Bitcoin. On 29th October, 2021 he tweeted saying:
Again on July 31, 2022 he tweeted, “ Most people who have a crypto investment mandate are not fully allocated to crypto as they moved to part cash.”
Source: https://www.thecoinrepublic.com/2022/08/23/ethereums-merge-may-rise-higher-than-people-expecting-raoul-pal/