What Does Michael Saylor Think About The Ethereum Merge?
When major crypto events happen, one of the first things I check Twitter for is the opinion of Micro Strategy executive and Bitcoin champion, Michael Saylor. This past week, one of the biggest events in crypto history, The Merge, unfolded to much fanfare, so I had to give him a few days, but I wanted to know his opinion.
To be fair, The Merge, Ethereum’s transition to proof-of-stake (PoS) verification mechanism from proof-of-work (PoW) consensus mechanism, was promised and anticipated for years. So much so, that there was plenty of speculation that it may never happen. Or if it did, that it would cause widespread chaos.
And yet, early on September 15, 2022, The Merge transitioned Ethereum to the Beacon chain smoothly and within minutes with hardly a disruption to end users. It was anticlimactic, frankly. It gave me Y2K vibes — all the hype and none of the apocalypse.
Nevertheless, the transition to PoS will cause ripple effects throughout the cryptoverse because it’s more than moving to a new consensus mechanism. In many ways, it’s primary impact is the political statement about the need to move from the significant use of energy created by mining, required by PoW. With climate change as a significant driver of policy in the public and private sector, Web3 has been looking at its own impact on the…
