ETH Merge Will Propel Narrative of Cryptos Being Eco-Friendly: Head of Sales at Moneycorp

blockchain.news:

As the Ethereum (ETH) merge slated for September 15 is a stone’s throw away, Blockchain.News conducted an exclusive interview with Anil Sawrup, the head of sales at Moneycorp Americas, to get more insights about what this much-anticipated event has to offer. 

Despite the merge being the talk of the town, it has been elusive for quite some time because it was launched in December 2020 as Ethereum 2.0 or the beacon chain, and it sought to transition the current proof-of-work (PoW) framework to a proof-of-stake (PoS) consensus mechanism.

Nevertheless, various indicators show that September 15 is the most probable date for the merger. For instance, Vitalik Buterin, Ethereum’s co-founder, recently hintedthat this date was the day to watch.

Speaking in an exclusive interview, Sawrup told Blockchain.News that since the ETH merge was in sight, it would undoubtedly change various narratives about the crypto space. He noted:

“I believe the merge will increase the scenario around crypto being environmentally friendly. Obviously, reducing emission costs and changing the whole blockchain theory.”

Since the PoW framework necessitates solving a cryptographic puzzle, it is energy-intensive, which pollutes the environment.

Once Ethereum shifts to a PoS consensus mechanism, validators will replace miners in the confirmation of blocks because they will use the staked Ether. As a result, prompting a more cost-efficient and environmentally friendly approach. 

On the other hand, Sawrup stated that Bitcoin and Ethereum had emerged as notable equity market indicators. Therefore, this trend was likely to continue with the advent of the merger. He noted:

“Since everybody is looking forward to the merge based on the crypto winter, what we are