Charles Hoskinson says hype around The Merge is overblown

The Ethereum network’s transition to the Proof-of-Stake consensus algorithm (PoS) has not affected blockchain performance, operating costs, or liquidity. This was stated by Cardano founder Charles Hoskinson.

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

“ETH 2.0 requires at least [hard fork] Shanghai in 2023. My forecast remains unchanged. Do you understand that nothing has changed?” — he said.

Hoskinson reacted to the irony of a user who reminded the founder Cardano of his forecast that Ethereum 2.0 was expected in 2024. He made clear that the expectations concerned the final product, and the merge was merely another step toward it.

Activation The Merge lays the groundwork for the next upgrade — Surge. The latter will enable Ethereum to process up to 100,000 transactions per second thanks to the technology sharding.

Hoskinson also expressed concern that Proof-of-Stake would be perceived as a consensus mechanism with high centralisation, which does not reflect reality with regard to Cardano.

“The era begins when everyone thinks that all PoS work the same as how it is implemented in Ethereum. Maxis will attack Cardano for slashing and will label all the Ethereum problems as ours,” — he explained.

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

Developers activated a major upgrade to the Ethereum mainnet on September 15 at 9:42 (Kyiv/Moscow time).

Earlier, in Ethereum’s outlook, Paolo Ardoino, CTO of Bitfinex and Tether, doubted.

Founder of ConsenSys and one of Ethereum’s co-founders Joseph Lubin called The Merge the third major milestone in the industry after the advent of Bitcoin and the creation of the second-largest cryptocurrency.

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