Tether CTO Suspects About Ethereum Merge! Here’s Why

Tether and Bitfinex CTO Paolo Ardoino as Merge update approaches bitcoin and Ethereum compared.

Ardorino thinks that Ethereum still cannot compete with Bitcoin. The CEO explained the situation as follows:

“Bitcoin aims to be a form of money. Ethereum, on the other hand, is not clear on this. ETH is caught between a coin format and a platform vision. In addition, I think it is impossible for ETH to compete with BTC in terms of money. Because while Bitcoin has a limited supply, Ethereum’s supply is unlimited.”

With the Ethereum Merge update, the functioning of the ETH network will completely change. Tether CEO also spoke about the Ethereum Merge update, which is expected to happen within hours:

“The Merge update will not change the transaction fees on the ETH network. The Merge update has gotten all the attention, but what will it really do?”

Ardoino thinks that the Merge update does not provide a clear solution to the scaling and cost issues, so the value generated by the update should be questioned.

“The real issue here is which crypto asset will provide true decentralization. Bitcoin has had a solid narrative on this since day one, and that hasn’t changed at all.”

Hours Left for ETH Merge Update!

Hours left until the Ethereum Merge update. With the update, the functioning of the ETH network will completely change. As Ethereum mining becomes a thing of the past, it will be replaced by proof-of-stake (PoS).

According to crypto tracking sites, the Merge update will take place in an estimated 10 hours.

Hours before the update $ETHIt is trading at $1,578, down 1% daily.