Charles Hoskinson, a founder of both Ethereum and Cardano and CEO of Input Output, sayear’sEthereumid that the Merge would not affect the performance, operational costs, or liquidity of the world’s second-largest cryptocurrency.
Eth 2.0 requires Shanghai which is next year minimum by their own release schedule. My prediction is still on target. You do understand that nothing has changed in terms of performance, operating cost, nor liquidity?
— Charles Hoskinson (@IOHK_Charles) September 15, 2022
The cryptographer had also said that everyone would now presume that all Proof of Stake protocols operate in the same manner as Ethereum’s Proof of Stake protocol from now. He added that the Bitcoin maxis will launch an assault on Cardano for slashing, and they will be labeled for all of Ethereum’s issues.
Now begins the Era of everyone assuming that all Proof of Stake works like Ethereum's Proof of Stake. The maxis will attack Cardano for slashing and label all the ethereum problems as ours. Thanks Jack https://t.co/XpL4OynoeM
— Charles Hoskinson (@IOHK_Charles) September 15, 2022
Billy Markus, the co-founder of Dogecoin, responded to Hoskinson’s tweet with a funny reassurance that he need not worry about what he said since the majority of cryptocurrency users do not grasp how Proof-of-Stake and Proof-of-Operate work, even though many claim to.
The term “The Merge” refers to the process of combining the Proof-of-Work (PoW) execution layer with the Proof-of-Stake (PoS) Beacon chain consensus layer while it is operating simultaneously, which makes the PoW chain unnecessary.
The move to PoS, according to its proponents, would make Ethereum more secure, scalable, and environmentally friendly.
Charles Hoskinson on The Merge
In a video message that was sent earlier today on Twitter, the creator of Cardano extended his congratulations to the Ethereum community on the successful completion of the long-awaited Merge, which saw the implementation of PoS.
He likened the transition to Merge to replacing the engine of a vehicle while it was moving at full speed, arguing that it would neither impede the progress of the blockchain’s operations nor cause any disruptions in service to the centibillinial ecosystem of ETH users.
According to him, the Merge is one of the most challenging things that has ever been accomplished in the field of cryptocurrency.
Hoskinson added that, as he discovered in another source, the transition from proof-of-work (PoW) to proof-of-stake (PoS) would assist contribute to a 0.2% decrease in the worldwide use of energy.
Hoskinson has expressed his fear that Proof-of-Stake would now be perceived as a highly centralized consensus method, despite the fact that this is not the case in the case of Cardano.
