{"id":68032,"date":"2022-10-04T07:00:00","date_gmt":"2022-10-04T04:00:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68032"},"modified":"2025-09-07T11:52:42","modified_gmt":"2025-09-07T08:52:42","slug":"why-the-merge-didnt-solve-ethereums-scaling-problem","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/why-the-merge-didnt-solve-ethereums-scaling-problem\/","title":{"rendered":"Why The Merge Didn&#8217;t Solve Ethereum&#8217;s Scaling Problem"},"content":{"rendered":"<p>The largest update in Ethereum&#8217;s history\u2014the Merge\u2014<a href=\"https:\/\/forklog.com\/en\/news\/ethereum-activates-the-merge-blockchain-shifts-to-pos\">took place on September 15, 2022<\/a>. After seven years of hard work by developers, the second-largest cryptocurrency by market capitalization switched to the Proof-of-Stake consensus algorithm.<\/p>\n<p>Many users eagerly awaited the upgrade, believing that the pressing scaling problem would be put to rest once and for all. However, it turned out otherwise: transaction speed and cost remained virtually at their previous levels.<\/p>\n<p>ForkLog examined the features and significance of the recent update, debunked popular myths and outlined developers&#8217; future plans to improve the project.<\/p>\n<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>The Merge reduced Ethereum&#8217;s inflation and energy consumption by more than 90%, laying the groundwork for future large-scale upgrades.<\/li>\n<li>The ability to withdraw ETH from staking will open after the Shanghai upgrade, in 6-12 months. Market participants will not be able to unlock all coins at once.<\/li>\n<li>The Ethereum network will become truly scalable after implementing sharding, Verkle trees and a range of optimizations as part of the upcoming stages \u2014 Surge, Verge, Purge and Splurge.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">The Merge 101<\/h2>\n<p>The Merge was the merging of the <em>execution layer<\/em> of Ethereum (the mainnet, operating since its <a href=\"https:\/\/blog.ethereum.org\/2015\/07\/30\/ethereum-launches\">launch on July 30, 2015<\/a>) with a new <em>consensus layer<\/em> \u2014 Beacon Chain. The upgrade removed the need for energy-intensive mining. Security of the network is now provided by ETH staking.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00ab\u042d\u0442\u043e \u0431\u044b\u043b \u043f\u043e\u0438\u0441\u0442\u0438\u043d\u0435 \u0437\u0430\u0445\u0432\u0430\u0442\u044b\u0432\u0430\u044e\u0449\u0438\u0439 \u0448\u0430\u0433 \u0432 \u0440\u0435\u0430\u043b\u0438\u0437\u0430\u0446\u0438\u0438 \u0432\u0438\u0434\u0435\u043d\u0438\u044f Ethereum \u2014 b<em>\u043e<\/em>\u043b\u044c\u0448\u0430\u044f \u043c\u0430\u0441\u0448\u0442\u0430\u0431\u0438\u0440\u0443\u0435\u043c\u043e\u0441\u0442\u044c, \u0431\u0435\u0437\u043e\u043f\u0430\u0441\u043d\u043e\u0441\u0442\u044c \u0438 \u0443\u0441\u0442\u043e\u0439\u0447\u0438\u0432\u043e\u0441\u0442\u044c\u00bb, \u2014 <a href=\"https:\/\/ethereum.org\/en\/upgrades\/merge\/\">\u043e\u0442\u043c\u0435\u0442\u0438\u043b\u0438<\/a> \u0440\u0430\u0437\u0440\u0430\u0431\u043e\u0442\u0447\u0438\u043a\u0438 \u043d\u0435\u043a\u043e\u043c\u043c\u0435\u0440\u0447\u0435\u0441\u043a\u043e\u0439 \u043e\u0440\u0433\u0430\u043d\u0438\u0437\u0430\u0446\u0438\u0438 Ethereum Foundation.<\/p>\n<\/blockquote>\n<p>By abandoning <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-proof-of-work-pow-algorithm\">Proof-of-Work<\/a>, the network&#8217;s energy consumption fell by about 99.95%, according to Ethereum.org.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"517\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/merge_scheme-1-1024x517.png\" alt=\"\u041f\u043e\u0447\u0435\u043c\u0443 The Merge \u043d\u0435 \u0440\u0435\u0448\u0438\u043b \u043f\u0440\u043e\u0431\u043b\u0435\u043c\u0443 \u043c\u0430\u0441\u0448\u0442\u0430\u0431\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u044f Ethereum\" class=\"wp-image-186545\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/merge_scheme-1-1024x517.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/merge_scheme-1-300x152.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/merge_scheme-1-768x388.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/merge_scheme-1.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/ethereum-2-0-phase-zero-launch\">\u0421 1 \u0434\u0435\u043a\u0430\u0431\u0440\u044f 2020 \u0433\u043e\u0434\u0430<\/a> Beacon Chain worked in parallel with the mainnet. Economic activity occurred predominantly on the mainnet, based on Proof-of-Work. It executed smart contracts, stored data about accounts, balances and the state of the blockchain.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" decoding=\"\" width=\"1024\" height=\"517\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/merge_scheme-1024x517.png\" alt=\"\u041f\u043e\u0447\u0435\u043c\u0443 The Merge \u043d\u0435 \u0440\u0435\u0448\u0438\u043b \u043f\u0440\u043e\u0431\u043b\u0435\u043c\u0443 \u043c\u0430\u0441\u0448\u0442\u0430\u0431\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u044f Ethereum\" class=\"wp-image-186546\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/merge_scheme-1024x517.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/merge_scheme-300x152.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/merge_scheme-768x388.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/merge_scheme.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<p>To help users better understand the merger process and the shift away from the old algorithm, the non-profit participants proposed the following analogy:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00ab\u041f\u0440\u0435\u0434\u0441\u0442\u0430\u0432\u044c\u0442\u0435, \u0447\u0442\u043e Ethereum \u2014 \u043a\u043e\u0441\u043c\u0438\u0447\u0435\u0441\u043a\u0438\u0439 \u043a\u043e\u0440\u0430\u0431\u043b\u044c, \u043a\u043e\u0442\u043e\u0440\u044b\u0439 \u0443\u0436\u0435 \u0437\u0430\u043f\u0443\u0449\u0435\u043d, \u043d\u043e \u0435\u0449\u0435 \u043d\u0435 \u0433\u043e\u0442\u043e\u0432 \u043a \u043c\u0435\u0436\u0437\u0432\u0435\u0437\u0434\u043d\u043e\u043c\u0443 \u043f\u0443\u0442\u0435\u0448\u0435\u0441\u0442\u0432\u0438\u044e. \u0421\u043e\u043e\u0431\u0449\u0435\u0441\u0442\u0432\u043e \u0441\u043e\u0437\u0434\u0430\u043b\u043e Beacon Chain, \u043a\u043e\u0442\u043e\u0440\u0430\u044f \u043f\u0440\u0435\u0434\u0441\u0442\u0430\u0432\u043b\u044f\u0435\u0442 \u0441\u043e\u0431\u043e\u0439 \u043d\u043e\u0432\u044b\u0439 \u0434\u0432\u0438\u0433\u0430\u0442\u0435\u043b\u044c \u0438 \u0443\u043a\u0440\u0435\u043f\u043b\u0435\u043d\u043d\u044b\u0439 \u043a\u043e\u0440\u043f\u0443\u0441. \u041f\u043e\u0441\u043b\u0435 \u043e\u0441\u043d\u043e\u0432\u0430\u0442\u0435\u043b\u044c\u043d\u044b\u0445 \u0438\u0441\u043f\u044b\u0442\u0430\u043d\u0438\u0439 \u043f\u0440\u0438\u0448\u043b\u043e \u0432\u0440\u0435\u043c\u044f \u0433\u043e\u0440\u044f\u0447\u0435\u0439 \u0437\u0430\u043c\u0435\u043d\u044b \u0441\u0442\u0430\u0440\u043e\u0433\u043e \u0434\u0432\u0438\u0433\u0430\u0442\u0435\u043b\u044f \u043d\u0430 \u043d\u043e\u0432\u044b\u0439, \u043f\u0440\u044f\u043c\u043e \u0432 \u043f\u043e\u043b\u0435\u0442\u0435\u00bb.<\/p>\n<\/blockquote>\n<p>Initially the new network did not process mainnet transactions. The Beacon Chain achieved consensus within its own state with validators&#8217; funds on balance. After intensive and prolonged testing, the network matured to handle real data, including execution-level transactions, etc.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abThe Merge represented an official transition to using Beacon Chain as the engine for producing blocks\u00bb, \u2014 \u043e\u0442\u043c\u0435\u0442\u0438\u043b\u0438 \u0432 Ethereum Foundation.<\/p>\n<\/blockquote>\n<p>Miners were replaced by validators, who now process transactions and propose blocks. All past data was preserved in the merge.<\/p>\n<p>The Merge significantly affected the <strong>dynamics of Ethereum&#8217;s issuance<\/strong>, which depends on two main processes: issuance and burning.<\/p>\n<p>Issuance means the creation of new cryptocurrency. Burning is the destruction or withdrawal from circulation of previously issued assets. <\/p>\n<p>The pace of issuance and burning is determined by on-chain activity, and the balance between these processes makes Ethereum inflationary or deflationary.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"255\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Ultra1-1-1024x255.png\" alt=\"\u041f\u043e\u0447\u0435\u043c\u0443 The Merge \u043d\u0435 \u0440\u0435\u0448\u0438\u043b \u043f\u0440\u043e\u0431\u043b\u0435\u043c\u0443 \u043c\u0430\u0441\u0448\u0442\u0430\u0431\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u044f Ethereum\" class=\"wp-image-186547\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Ultra1-1-1024x255.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Ultra1-1-300x75.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Ultra1-1-768x192.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Ultra1-1.png 1155w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>With a balance of burning and issuance parameters as of 23.09.2022, Ethereum&#8217;s inflation rate is close to 0. Data: <a href=\"https:\/\/ultrasound.money\/\">Ultrasound Money<\/a>.<br \/><\/figcaption><\/figure>\n<p>According to Ethereum Foundation analysts, prior to the merger, the total daily miners&#8217; rewards were about 13,000 ETH, and the corresponding validator metric was about 1,600 ETH. The inflation rate stood at 4.62%.<\/p>\n<p>After The Merge, miners were out of the consensus, no longer earning income. With ~1,600 ETH still staked per day, new coin issuance fell by about 90%. Inflation moved toward zero (roughly 0.24% at the time of writing).<\/p>\n<p>Validators are responsible for storing data, processing transactions, and adding blocks to the blockchain. Their rewards (or penalties) are calculated and distributed every epoch lasting 6.4 minutes.<\/p>\n<p>Validator rewards will continue to accrue on their balances until the Shanghai hard fork, planned for the future. After this upgrade, funds on accounts will become withdrawable.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abThis means that new ETH issuance is isolated from the market until the upgrade\u00bb, \u2014 \u043f\u043e\u044f\u0441\u043d\u0438\u043b\u0438 \u043f\u0440\u0435\u0434\u0441\u0442\u0430\u0432\u0438\u0442\u0435\u043b\u0438 Ethereum Foundation.<\/p>\n<\/blockquote>\n<p>However, according to them, not all stakers will be able to withdraw funds at once.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abTo ensure stable operation, the number of validators withdrawing coins simultaneously is limited. Only six of them can exit within an epoch\u00bb, \u2014 \u043f\u043e\u0434\u0447\u0435\u0440\u043a\u043d\u0443\u043b\u0438 \u0440\u0430\u0437\u0440\u0430\u0431\u043e\u0442\u0447\u0438\u043a\u0438.<\/p>\n<\/blockquote>\n<p>ETH burning is the process opposite to issuance. This mechanism was introduced with the <a href=\"https:\/\/forklog.com\/en\/news\/ethereums-london-hard-fork-goes-live\">London hard fork<\/a>.<\/p>\n<p>To execute a transaction on the Ethereum network, a user must pay a minimum fee (base fee). The fees are then burned, removing ETH from circulation and thereby reducing the circulating supply of the cryptocurrency.<\/p>\n<p>The system can penalize validators for being offline or for misbehavior that threatens network security. Such penalties reduce ETH on participants&#8217; balances, further lowering supply.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abMoreover, The Merge laid the groundwork for further scaling improvements that are not possible with Proof-of-Work. Ethereum is one step closer to achieving full scalability, security and resilience\u00bb, \u2014 \u043e\u0442\u043c\u0435\u0442\u0438\u043b\u0438 \u0432 Ethereum Foundation.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Popular myths<\/h2>\n<p>Some market participants are convinced that <em><strong>The Merge should have reduced transaction fees, but it did not<\/strong><\/em>.<\/p>\n<p>According to Ethereum Foundation representatives, the update was designed to change the consensus mechanism, not to reduce users&#8217; gas costs.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abFees depend on transaction demand and network throughput. The Merge rejected Proof-of-Work in favour of a Proof-of-Stake consensus algorithm, but did not substantively change any parameters that directly affect network performance\u00bb, \u2014 \u043f\u043e\u044f\u0441\u043d\u0438\u043b\u0438 \u0440\u0430\u0437\u0440\u0430\u0431\u043e\u0442\u0447\u0438\u043a\u0438.<\/p>\n<\/blockquote>\n<p>They stressed that Ethereum&#8217;s development roadmap is focused on <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-layer%e2%80%912-solution-in-blockchain\">layer-2 scaling solutions<\/a> with an emphasis on rollups, and the transition to Proof-of-Stake (PoS) is the key step toward its implementation.<\/p>\n<p>Many also expected that <strong><em>The Merge would significantly speed up transactions on the Ethereum network.<\/em><\/strong><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abDespite minor changes, on-chain transaction speed at Layer 1 remains roughly the same as before the merge\u00bb, \u2014 \u043f\u043e\u0434\u0447\u0435\u0440\u043a\u043d\u0443\u043b\u0438 \u0440\u0430\u0437\u0440\u0430\u0431\u043e\u0442\u0447\u0438\u043a\u0438.<\/p>\n<\/blockquote>\n<p>Historically under Proof-of-Work, new blocks were produced roughly every 13.3 seconds. Under Proof-of-Stake, timeslots appear every 12 seconds, giving validators the chance to publish a block.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abUnder the new algorithm, blocks are produced about 10% faster than with Proof-of-Work. This is a fairly minor change that users are unlikely to notice\u00bb, \u2014 \u043e\u0442\u043c\u0435\u0442\u0438\u043b\u0438 \u0432 Ethereum Foundation.<\/p>\n<\/blockquote>\n<p>There was also a belief that <strong><em>after The Merge ETH could be withdrawn from staking<\/em><\/strong><em>.<\/em> However, this option will become available after the Shanghai upgrade, in 6-12 months. As noted, stakers will not be able to unlock their coins all at once.<\/p>\n<p>According to the developers, the \u201ctips\u201d for transactions and MEV accrued are credited to a non-staked account controlled by the validator, making them liquid coins.<\/p>\n<h2 class=\"wp-block-heading\">Surge, Verge, Purge and Splurge<\/h2>\n<p>In early December, Ethereum founder Vitalik Buterin congratulated participants on Beacon Chain&#8217;s anniversary and published an updated diagram of the project\u2019s roadmap.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Happy birthday beacon chain!<\/p>\n<p>Here\u2019s an updated roadmap diagram for where Ethereum protocol development is at and what\u2019s coming in what order.<\/p>\n<p>(I\u2019m sure this is missing a lot, as all diagrams are, but it covers a lot of the important stuff!) <a href=\"https:\/\/t.co\/puWP7hwDlx\">pic.twitter.com\/puWP7hwDlx<\/a><\/p>\n<p>\u2014 vitalik.eth (@VitalikButerin) <a href=\"https:\/\/twitter.com\/VitalikButerin\/status\/1466411377107558402?ref_src=twsrc%5Etfw\">December 2, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Alongside The Merge, it includes other major milestones: Surge, Verge, Purge and Splurge. <\/p>\n<p>The implementation of <strong>The Surge<\/strong> is slated for 2023. It envisages the introduction of <a href=\"https:\/\/forklog.com\/en\/news\/what-is-sharding\">sharding<\/a>, which splits the blockchain into parts (&#8220;shards&#8221;) to increase network scalability.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">2. THE SURGE (2023)<\/p>\n<p>The introduction of Sharding on Ethereum.<\/p>\n<p>Sharding splits a blockchain\u2019s entire network into smaller partitions, known as \u00abshards.\u00bb <\/p>\n<p>This will significantly increase the network\u2019s scalability. <a href=\"https:\/\/t.co\/KILB9bdZAh\">pic.twitter.com\/KILB9bdZAh<\/a><\/p>\n<p>\u2014 Miles Deutscher (@milesdeutscher) <a href=\"https:\/\/twitter.com\/milesdeutscher\/status\/1550315305469038592?ref_src=twsrc%5Etfw\">July 22, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00ab\u0418\u0437\u043d\u0430\u0447\u0430\u043b\u044c\u043d\u044b\u0439 \u043f\u043b\u0430\u043d \u0441\u043e\u0441\u0442\u043e\u044f\u043b \u0432 \u0440\u0430\u0431\u043e\u0442\u0435 \u043d\u0430\u0434 \u0448\u0430\u0440\u0434\u0438\u043d\u0433\u043e\u043c \u0434\u043e The Merge \u0434\u043b\u044f \u0440\u0435\u0448\u0435\u043d\u0438\u044f \u043f\u0440\u043e\u0431\u043b\u0435\u043c\u044b \u043c\u0430\u0441\u0448\u0442\u0430\u0431\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u044f. \u041e\u0434\u043d\u0430\u043a\u043e \u043d\u0430 \u0444\u043e\u043d\u0435 \u0431\u0443\u043c\u0430 \u0440\u0435\u0448\u0435\u043d\u0438\u0439 \u0432\u0442\u043e\u0440\u043e\u0433\u043e \u0443\u0440\u043e\u0432\u043d\u044f \u043f\u0440\u0438\u043e\u0440\u0438\u0442\u0435\u0442 \u0441\u043c\u0435\u0441\u0442\u0438\u043b\u0441\u044f \u0432 \u0441\u0442\u043e\u0440\u043e\u043d\u0443 \u043f\u0435\u0440\u0435\u0445\u043e\u0434\u0430 \u043d\u0430 Proof-of-Stake\u00bb, \u2014 <a href=\"https:\/\/ethereum.org\/en\/upgrades\/merge\/#misconceptions\">\u043e\u0442\u043c\u0435\u0442\u0438\u043b\u0438<\/a> \u043f\u0440\u0435\u0434\u0441\u0442\u0430\u0432\u0438\u0442\u0435\u043b\u0438 Ethereum Foundation.<\/p>\n<\/blockquote>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"421\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/merge_scheme-2-1024x421.png\" alt=\"\u041f\u043e\u0447\u0435\u043c\u0443 The Merge \u043d\u0435 \u0440\u0435\u0448\u0438\u043b \u043f\u0440\u043e\u0431\u043b\u0435\u043c\u0443 \u043c\u0430\u0441\u0448\u0442\u0430\u0431\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u044f Ethereum\" class=\"wp-image-186551\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/merge_scheme-2-1024x421.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/merge_scheme-2-300x123.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/merge_scheme-2-768x316.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/merge_scheme-2.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<p>ForkLog asked Anton Bukov, co-founder of 1inch Network, what is more relevant and effective for increasing Ethereum&#8217;s performance \u2014 sharding or Rollups. He replied:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00ab\u041a\u0430\u0436\u0434\u043e\u0435 \u0438\u0437 \u044d\u0442\u0438\u0445 \u0440\u0435\u0448\u0435\u043d\u0438\u0439 \u043f\u043e-\u0441\u0432\u043e\u0435\u043c\u0443 \u043c\u0430\u0441\u0448\u0442\u0430\u0431\u0438\u0440\u0443\u0435\u0442 \u044d\u0444\u0438\u0440, \u043d\u043e \u043d\u0435 \u0440\u0435\u0448\u0430\u0435\u0442 \u043f\u0440\u043e\u0431\u043b\u0435\u043c\u0443 \u043c\u0430\u0441\u0448\u0442\u0430\u0431\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u044f DeFi, \u043a\u043e\u0442\u043e\u0440\u043e\u043c\u0443 \u0432 \u0435\u0433\u043e \u043d\u044b\u043d\u0435\u0448\u043d\u0435\u043c \u0432\u0438\u0434\u0435 \u043d\u0435 \u043f\u043e\u0434\u0445\u043e\u0434\u0438\u0442 \u043d\u0435\u0430\u0442\u043e\u043c\u0430\u0440\u043d\u0430\u044f \u0441\u0440\u0435\u0434\u0430 \u0438\u0441\u043f\u043e\u043b\u043d\u0435\u043d\u0438\u044f\u00bb.<\/p>\n<\/blockquote>\n<p>According to him, Rollups are more timely today \u2014 <em>because there are still years before sharding<\/em>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00ab\u041d\u043e \u0432 \u0442\u043e \u0436\u0435 \u0432\u0440\u0435\u043c\u044f \u0448\u0430\u0440\u0434\u0438\u043d\u0433\u0430 \u0432 \u0438\u0445 \u0442\u0435\u043a\u0443\u0449\u0435\u0439 \u043a\u043e\u043d\u0446\u0435\u043f\u0446\u0438\u0438 \u0432\u0440\u044f\u0434 \u043b\u0438 \u0441\u043c\u043e\u0433\u0443\u0442 \u0442\u044f\u0433\u0430\u0442\u044c\u0441\u044f \u043f\u043e \u043f\u0440\u043e\u043f\u0443\u0441\u043a\u043d\u043e\u0439 \u0441\u043f\u043e\u0441\u043e\u0431\u043d\u043e\u0441\u0442\u0438 \u0441 \u0440\u043e\u043b\u043b\u0430\u043f\u0430\u043c\u0438. \u042f \u0431\u044b \u043d\u0435 \u0441\u043a\u0430\u0437\u0430\u043b, \u0447\u0442\u043e \u043a\u043e\u043d\u0446\u0435\u043f\u0446\u0438\u044f \u0448\u0430\u0440\u0434\u0438\u043d\u0433\u0430 \u044d\u0444\u0438\u0440\u0438\u0443\u043c\u0430 \u0444\u0438\u043d\u0430\u043b\u0438\u0437\u0438\u0440\u043e\u0432\u0430\u043d\u0430. \u041f\u043e\u044d\u0442\u043e\u043c\u0443 \u0438 \u0441\u0440\u0430\u0432\u043d\u0438\u0432\u0430\u0442\u044c \u043f\u043e\u043a\u0430 \u0447\u0442\u043e \u043d\u0435 \u043e\u0447\u0435\u043d\u044c \u043a\u043e\u0440\u0440\u0435\u043a\u0442\u043d\u043e\u00bb, \u2014 \u0434\u043e\u0431\u0430\u0432\u0438\u043b \u0441\u043e\u043e\u0441\u043d\u043e\u0432\u0430\u0442\u0435\u043b\u044c 1inch Network.<\/p>\n<\/blockquote>\n<p>Then follows <strong>The Verge<\/strong>, where Verkle trees are introduced. As <a href=\"https:\/\/vitalik.ca\/general\/2021\/06\/18\/verkle.html\">Buterin explained<\/a>, they perform a function similar to Merkle trees \u2014 aggregating all transactions in a block and producing a proof for the entire data set for a user who wishes to verify its authenticity.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abThe key property of Verkle trees is that they are far more efficient with respect to proof sizes\u00bb, \u2014 \u043e\u0442\u043c\u0435\u0442\u0438\u043b \u043e\u0441\u043d\u043e\u0432\u0430\u0442\u0435\u043b\u044c Ethereum.<\/p>\n<\/blockquote>\n<p>According to him, reducing the amount of information will be sufficient <a href=\"https:\/\/docs.ethhub.io\/ethereum-roadmap\/ethereum-2.0\/stateless-clients\/\">for enabling stateless clients<\/a>.<\/p>\n<p>Overall, the move is aimed at optimizing data storage and node size.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">3. THE VERGE<\/p>\n<p>Introduces verkle trees, a \u00abpowerful upgrade to Merkle proofs that allow for much smaller proof sizes.\u00bb<\/p>\n<p>This will optimise storage on Ethereum and help reduce node size. Ultimately, this assists <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> in becoming more scalable. <a href=\"https:\/\/t.co\/5AphZ84EqL\">pic.twitter.com\/5AphZ84EqL<\/a><\/p>\n<p>\u2014 Miles Deutscher (@milesdeutscher) <a href=\"https:\/\/twitter.com\/milesdeutscher\/status\/1550315313744334849?ref_src=twsrc%5Etfw\">July 22, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00ab\u0412 \u043a\u043e\u043d\u0435\u0447\u043d\u043e\u043c \u0441\u0447\u0435\u0442\u0435 \u044d\u0442\u043e \u043f\u043e\u043c\u043e\u0433\u0430\u0435\u0442 Ethereum \u0441\u0442\u0430\u0442\u044c \u0431\u043e\u043b\u0435\u0435 \u043c\u0430\u0441\u0448\u0442\u0430\u0431\u0438\u0440\u0443\u0435\u043c\u044b\u043c\u00bb, \u2014 \u043f\u043e\u0434\u0447\u0435\u0440\u043a\u043d\u0443\u043b \u043a\u0440\u0438\u043f\u0442\u043e\u0438\u043d\u0432\u0435\u0441\u0442\u043e\u0440 \u0438 \u0430\u043d\u0430\u043b\u0438\u0442\u0438\u043a \u041c\u0430\u0439\u043b\u0437 \u0414\u043e\u0439\u0447\u0435\u0440.<\/p>\n<\/blockquote>\n<p><strong>The Purge<\/strong> is designed to reduce the amount of data validators need to store. This approach will lower hardware requirements for network participants and boost overall system efficiency.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">4. THE PURGE<\/p>\n<p>Reduces the hard drive space needed for validators. This eliminates historical data and bad debt. <\/p>\n<p>Streamlines storage, which in turn reduces network congestion. <a href=\"https:\/\/t.co\/WufVzh52ec\">pic.twitter.com\/WufVzh52ec<\/a><\/p>\n<p>\u2014 Miles Deutscher (@milesdeutscher) <a href=\"https:\/\/twitter.com\/milesdeutscher\/status\/1550315320048422912?ref_src=twsrc%5Etfw\">July 22, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This step is also meant to minimise network congestion and improve throughput. By the end of the phase, Ethereum is expected to process up to 100,000 transactions per second. The next phase \u2014 <strong>The Splurge<\/strong> \u2014 comprises a set of minor updates designed to ensure smooth operation after the previous steps and facilitate user experience. This phase marks the end of Ethereum&#8217;s lengthy scaling journey.<\/p>\n<h2 class=\"wp-block-heading\">Community sentiment<\/h2>\n<p>Cardano founder Charles Hoskinson <a href=\"https:\/\/forklog.com\/en\/news\/charles-hoskinson-says-hype-around-the-merge-is-overblown\">expressed the view<\/a> that Ethereum&#8217;s switch to Proof-of-Stake did not impact blockchain performance, operating costs or liquidity.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abETH 2.0 requires at least [Shanghai hard fork] in 2023. My forecast remains unchanged. You understand that nothing has changed?\u00bb, \u2014 \u0437\u0430\u044f\u0432\u0438\u043b \u043e\u043d.<\/p>\n<\/blockquote>\n<p>Anton Bukov also holds a different view. He said ordinary users have already felt the effect of Ethereum&#8217;s updates.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abBlocks appear every 12 seconds, which provides a slightly more predictable time for a transaction to get into a block. And blocks becoming faster from 13.5 seconds to 12 seconds increased network throughput by 11%\u00bb, \u2014 \u043e\u0442\u043c\u0435\u0442\u0438\u043b \u0441\u043e\u043e\u0441\u043d\u043e\u0432\u0430\u0442\u0435\u043b\u044c 1inch Network.<\/p>\n<\/blockquote>\n<p>Hoskinson later even criticized the developers, saying that the transition to PoS turned out to be delayed. <a href=\"https:\/\/forklog.com\/en\/news\/charles-hoskinson-clashes-with-ethereum-developers-over-the-merge\">\u0437\u0430\u044f\u0432\u0438\u043b<\/a> that Ethereum should have implemented the Snow White protocol, which among the first provided comprehensive formal security proofs for PoS algorithms. He also accused Ethereum developers of ignoring Ouroboros \u2014 the Cardano-style PoS blockchain \u2014 over the past five years.<\/p>\n<p>Analysts at Chainalysis <a href=\"https:\/\/forklog.com\/en\/news\/chainalysis-notes-price-divergence-between-ethereum-and-bitcoin-after-the-merge\">predicted<\/a> that Ethereum&#8217;s price could show independent dynamics after The Merge. They argued staking would make ETH resemble a bond or commodity. <\/p>\n<p>Experts projected growing interest from institutional investors due to high expected yields of ETH relative to traditional instruments like bonds.<\/p>\n<p>According to Chainalysis, the number of institutional Ethereum investors (with balances above $1 million in ETH terms) has &#8220;steadily grown&#8221; \u2014 from fewer than 200 in January 2021 to about 1,100 by August this year.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"510\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Chainalysis-3.png\" alt=\"\u041f\u043e\u0447\u0435\u043c\u0443 The Merge \u043d\u0435 \u0440\u0435\u0448\u0438\u043b \u043f\u0440\u043e\u0431\u043b\u0435\u043c\u0443 \u043c\u0430\u0441\u0448\u0442\u0430\u0431\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u044f Ethereum\" class=\"wp-image-186554\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Chainalysis-3.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Chainalysis-3-300x149.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Chainalysis-3-768x383.png 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: Chainalysis.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abThe Shanghai upgrade (within 6-12 months of The Merge) [\u2026] will allow withdrawal of assets, providing greater liquidity for players and making staking more attractive\u00bb, \u2014 \u0433\u043e\u0432\u043e\u0440\u0438\u0442\u0441\u044f \u0432 \u043e\u0442\u0447\u0435\u0442\u0435.<\/p>\n<\/blockquote>\n<p>Experts noted the move away from energy-inefficient mining with a reduction in energy consumption by more than 99%. In their view, this will appeal to ESG-conscious investors. <\/p>\n<p>Mike Brunn, who leads the Change the Code\/Not the Climate campaign against climate change, told Time that:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abEthereum showed that you can transition to an energy-efficient protocol that entails far less pollution, and cleaner air and water\u00bb.<\/p>\n<\/blockquote>\n<p>ConsenSys founder Joseph Lubin said he had spoken with several &#8220;major financial institutions&#8221;. They reportedly expected The Merge to allow them to participate more substantially in Ethereum.<\/p>\n<p>Lubin is confident that developers will eventually implement all roadmap milestones and achieve meaningful scaling for Ethereum&#8217;s second-largest market cap cryptocurrency.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abTo achieve this, it will take substantial time. But it will bring us to an architecture with virtually unlimited throughput\u00bb, \u2014 \u043f\u043e\u0434\u0447\u0435\u0440\u043a\u043d\u0443\u043b \u043e\u043d.<\/p>\n<\/blockquote>\n<p>But some Bitcoin maximalists critique Ethereum and other PoS coins.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Dear Proof of Stakers,<\/p>\n<p>The fact that you can vote on something to change its properties is proof that it\u2019s a security.<\/p>\n<p>Love, Bitcoin<\/p>\n<p>\u2014 Nick (@NickDPayton) <a href=\"https:\/\/twitter.com\/NickDPayton\/status\/1546609038787575811?ref_src=twsrc%5Etfw\">July 11, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00ab\u0423\u0432\u0430\u0436\u0430\u0435\u043c\u044b\u0435 \u0441\u0442\u043e\u0440\u043e\u043d\u043d\u0438\u043a\u0438 PoS. \u0424\u0430\u043a\u0442 \u0442\u043e\u0433\u043e, \u0447\u0442\u043e \u0432\u044b \u043c\u043e\u0436\u0435\u0442\u0435 \u043f\u0440\u043e\u0433\u043e\u043b\u043e\u0441\u043e\u0432\u0430\u0442\u044c \u0437\u0430 \u0447\u0442\u043e-\u043b\u0438\u0431\u043e, \u0441\u043f\u043e\u0441\u043e\u0431\u043d\u043e\u0435 \u0438\u0437\u043c\u0435\u043d\u0438\u0442\u044c \u0441\u0432\u043e\u0439\u0441\u0442\u0432\u0430 [\u0441\u0438\u0441\u0442\u0435\u043c\u044b], \u044f\u0432\u043b\u044f\u0435\u0442\u0441\u044f \u0434\u043e\u043a\u0430\u0437\u0430\u0442\u0435\u043b\u044c\u0441\u0442\u0432\u043e\u043c \u0442\u043e\u0433\u043e, \u0447\u0442\u043e \u044d\u0442\u043e \u0446\u0435\u043d\u043d\u0430\u044f \u0431\u0443\u043c\u0430\u0433\u0430\u00bb, \u2014 \u043d\u0430\u043f\u0438\u0441\u0430\u043b \u043c\u0430\u0440\u043a\u0435\u0442\u043e\u043b\u043e\u0433 \u043f\u0440\u043e\u0435\u043a\u0442\u0430 SwanBitcoin \u041d\u0438\u043a \u041f\u0435\u0439\u0442\u043e\u043d.<\/p>\n<\/blockquote>\n<p>Vitalik Buterin <a href=\"https:\/\/twitter.com\/VitalikButerin\/status\/1546776353776832515\">called<\/a> this claim \u201cblatant lies.\u201d He states that Proof-of-Stake does not entail voting on protocol parameters, just as Proof-of-Work does not.<\/p>\n<p>PoS is regularly criticized for supposed \u201cinsufficient decentralisation.\u201d For instance, long-time Bitcoin advocate Jimmy Song once <a href=\"https:\/\/twitter.com\/jimmysong\/status\/1543364278014582787\">claimed<\/a> that the PoS mechanism cannot solve the Byzantine generals problem.<\/p>\n<p>In response, Hoskinson wrote that the level of stupidity in such a statement is beyond explanation.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The level of stupid here is beyond explanation <a href=\"https:\/\/t.co\/2ARGkcpBgG\">https:\/\/t.co\/2ARGkcpBgG<\/a><\/p>\n<p>\u2014 Charles Hoskinson (@IOHK_Charles) <a href=\"https:\/\/twitter.com\/IOHK_Charles\/status\/1544064073075023872?ref_src=twsrc%5Etfw\">July 4, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Contrasting the critics, DeFi researcher Vivek Ramamurthy emphasised that PoS can give Ethereum a set of properties that could challenge Bitcoin&#8217;s dominance in crypto space.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">It is worth repeating: the ETH Merge is one of the most impressive engineering feats in blockchain history<\/p>\n<p>Under a fully PoS regime, <a href=\"https:\/\/twitter.com\/hashtag\/ETH?src=hash&#038;ref_src=twsrc%5Etfw\">#ETH<\/a> will have the economic structure to increase security, scale with L2s, grow its DeFi and NFT platforms, and overtake <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\">#BTC<\/a>\u2018s throne <\/p>\n<p>(11\/11)<\/p>\n<p>\u2014 VivekVentures.eth \ud83e\udd87\ud83d\udd0a (@VivekVentures) <a href=\"https:\/\/twitter.com\/VivekVentures\/status\/1545985747231993857?ref_src=twsrc%5Etfw\">July 10, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He called The Merge one of the most impressive developments in blockchain history.<\/p>\n<p>Anton Bukov allowed for the so-called <span data-descr=\"ETH's shift relative to Bitcoin in market-cap rankings\" class=\"old_tooltip\">The Flippening<\/span> to occur in 80% by 2025.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abBitcoin undoubtedly remains the primary and foundational distributed ledger technology, but Ethereum can arguably be called the next generation of blockchain\u00bb, \u2014 \u043f\u043e\u0434\u0435\u043b\u0438\u043b\u0441\u044f \u043c\u044b\u0441\u043b\u044f\u043c\u0438 \u0440\u0430\u0437\u0440\u0430\u0431\u043e\u0442\u0447\u0438\u043a.<\/p>\n<\/blockquote>\n<p>According to him, Ethereum has emerged as a leader in innovation and intends to become the \u201cthird generation\u201d blockchain. <\/p>\n<p>But not all is smooth \u2014 regulatory risks abound. For example, head of the SEC Gary Gensler <a href=\"https:\/\/forklog.com\/en\/news\/sec-chief-signals-pos-cryptocurrencies-could-be-securities\">allowed<\/a> the recognition of PoS cryptocurrencies as securities.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abIn 2022, for the first time there was a real, not illusory risk of censorship of transactions and blocks. Neither Proof-of-Work nor Proof-of-Stake consents have dedicated technical means to protect against censorship\u00bb, \u2014 \u043e\u0442\u043c\u0435\u0442\u0438\u043b \u0411\u0443\u043a\u043e\u0432.<\/p>\n<\/blockquote>\n<p>He notes that many developers are wrestling with this question. Perhaps in 1-2 years there will be an elegant technical solution to this problem. <\/p>\n<p>Some community members argue that Ethereum cannot be truly decentralised given the evident dominance of Lido and Coinbase in liquid staking.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"876\" height=\"385\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Liquid-staking.png\" alt=\"\u041f\u043e\u0447\u0435\u043c\u0443 The Merge \u043d\u0435 \u0440\u0435\u0448\u0438\u043b \u043f\u0440\u043e\u0431\u043b\u0435\u043c\u0443 \u043c\u0430\u0441\u0448\u0442\u0430\u0431\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u044f Ethereum\" class=\"wp-image-186556\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Liquid-staking.png 876w, https:\/\/forklog.com\/wp-content\/uploads\/Liquid-staking-300x132.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Liquid-staking-768x338.png 768w\" sizes=\"auto, (max-width: 876px) 100vw, 876px\" \/><figcaption>The share of Lido in Ethereum&#8217;s liquid staking is ~30%, Coinbase&#8217;s share is 14.7%. Data from <a href=\"https:\/\/etherscan.io\/dashboards\/beacon-depositors\">Etherscan<\/a> as of 28.09.2022.<\/figcaption><\/figure>\n<p>According to Anton Bukov, decentralisation can be understood in different ways:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abDepends on what you value most in decentralisation. If you care about censorship-resistance, then danksharding partially addresses this problem\u00bb.<\/p>\n<\/blockquote>\n<p>The developer stressed that if liquid staking services abuse user trust, they could quickly lose a significant portion of their liquidity.<\/p>\n<p>MEV is gaining popularity \u2014 a way for miners or validators to extract additional profit by changing the order of transactions before a new block is validated.<\/p>\n<p>El\u00edas Simos, who studied the first 24,500 blocks after The Merge, <a href=\"https:\/\/forklog.com\/en\/news\/almost-20-of-blocks-on-the-updated-ethereum-are-produced-using-mev-boost\">concluded<\/a> that 18% of them were mined using a modified mechanism called MEV-Boost.<\/p>\n<p><script async=\"\" src=\"https:\/\/telegram.org\/js\/telegram-widget.js?19\" data-telegram-post=\"forklog\/27745\" data-width=\"100%\"><\/script><\/p>\n<p>On the question of whether validator earnings from MEV will continue to grow amid rising MEV-Boost popularity, Bukov replied:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abIn the short term \u2014 yes; in the long term, more solutions will emerge to counter MEV. I expect this problem to be largely solved within five years\u00bb.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Conclusions<\/h2>\n<p>The Merge not only made Ethereum energy-efficient and nearly inflation-free, but also laid the groundwork for future large-scale upgrades.<\/p>\n<p>Sharding remains relevant, yet developers are focusing primarily on Rollups and other technically complex solutions. It will take substantial time for full scaling of the second-largest cryptocurrency.<\/p>\n<p>There are a variety of risks, including regulatory. For instance, the SEC chief is firmly convinced that the industry needs a \u201cwatchdog\u201d regulator, and PoS-based cryptocurrencies may be securities. <\/p>\n<p>It is unlikely that the path to the developers&#8217; goals will be easy. The community should be prepared for future price volatility and remember that bear markets are typically rich in meaningful developments and, overall, beneficial for the industry.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ForkLog examined the features and significance of The Merge update, debunked popular myths, and outlined developers&#8217; future plans to improve the project.<\/p>\n","protected":false},"author":1,"featured_media":68033,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"5","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[1144],"tags":[46,277],"class_list":["post-68032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-longreads","tag-ethereum","tag-scaling"],"aioseo_notices":[],"amp_enabled":true,"views":"40","promo_type":"1","layout_type":"5","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=68032"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68032\/revisions"}],"predecessor-version":[{"id":68034,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68032\/revisions\/68034"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/68033"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=68032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=68032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=68032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}