Joseph Lubin calls The Merge the crypto industry’s third major milestone

The transition of the second-largest cryptocurrency network to the Proof-of-Stake consensus algorithm will be ‘extremely efficient’. This view was expressed by ConsenSys founder and Ethereum’s co-founders, Joseph Lubin.

“We think it’ll be enormously impactful,” says Ethereum Co-Founder Joseph Lubin on the company merger.

The long-anticipated software change, “the Merge” to crypto fans worldwide, will lower Ethereum’s energy use by 99% https://t.co/N9mdd17Jkj pic.twitter.com/3GhOEU1aq0

— Bloomberg TV (@BloombergTV) September 13, 2022

In his view, for the end user The Merge will go unnoticed.

“It’ll be as smooth as if your iPhone or laptop automatically updated its operating system overnight,” explained Lubin.

The founder of ConsenSys suggested that the upgrade would be the third major event in the crypto industry after Bitcoin’s introduction and Ethereum’s creation.

According to the countdown timer, launched by Google, just over 17 hours remain until the mainnet migrates to PoS.

Ahead of the merge, Ethereum’s price fell 8.1% in the last 24 hours (CoinGecko). At the time of writing, the asset was trading near $1,590.

On 6 September, Ethereum developers activated the Bellatrix update. The upgrade is the final step before The Merge.

Former BitMEX CEO Arthur Hayes suggested a rally in Ethereum’s price to the $3,000 level after the mainnet’s transition to PoS.

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