Long-awaited by investors and the market Merge amalgamation Ethereum (ETH) network successfully in September.
While many evaluations have been made about the Merge merger, the global payments giant Visa’came from
“The Merge: What to Expect from a New Ethereum Era? In a report titled “Visa’s cryptocurrency, ETH’s transition from PoW to PoS together with Merge is a very important milestone for ETH.
In the report penned by Mert Özbay and Mustafa Bedawala in Visa cryptocurrency, it was pointed out that the Merge merger brought many innovations in terms of Ethereum’s sustainability, environmental friendliness and resource efficiency.
Pointing out that the Merge merger is one of the most impressive events in the history of technology, Visa authors said:
“The Merge has been discussed in the crypto community for some time and the event was successfully concluded in September 2022.
Arguably the largest technical upgrade in Ethereum history, Merge was part of the larger transformation formerly referred to as ‘Ethereum’.
Merge is a process that includes the transition of the consensus mechanism of the Ethereum network from Proof of Work (PoW) to Proof of Stake (PoS).
It is estimated that the transition from PoW to PoS will reduce Ethereum’s energy consumption by 99.95%.
In this context, Merge is the first demonstration of a system of this size that only reduces its carbon footprint through innovation and redesign.”
Visa, Merge’s ETHto decide whether it is effective in playing an important role in the global cross-border payment system. ETH 2.0 He added that he will closely monitor the next developments in the roadmap:
“Merge has brought us one step closer to developing a network that can create newer established payment use cases across the broader payments ecosystem while also addressing environmental concerns.
If the future of digital payments is to happen on blockchains, removing the barriers to sustainability, security and scalability that hinder mainstream adoption is critical.
In this regard, we look forward to upcoming upgrades as ETH moves to Ethereum 2.0 and enables greater scalability of its network.
The development of scalability and security features in Ethereum 2.0 over the next few years will be critical in shaping the network’s ability to be used for broader payment use cases.”
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