CRYPTOCURRENCY | BLOCKCHAIN
Ethereum has announced that the Mainnet and Beacon Chain will Merge on 15 or 16 September. This will transform it from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Is that transition enough to flip Bitcoin (BTC)?
Essential Information About Ethereum’s Upcoming Merge
When the Ethereum (ETH) merge occurs in September, it will mark the end of its PoW system and begin its status as a PoS coin.
Ethereum 2.0 will not create a new coin.
This Merge will change the financial policies of the blockchain, allowing ETH to become more sustainable and decreasing the total supply of ETH.
The Flippening: Will It Happen?? Everything You NEED To Know!!
The Merge will supposedly decrease ETH’s total supply. A decreased supply should help lift the price of ETH. This could assist its rise to #1.
However, BTC will always be seen as “digital gold” within the digital universe, while Ethereum is known as “digital oil.”
A rapid increase in the ETH price, a decrease in BTC’s price, or a combination of these two could lead to the Flippening.
The ETH merge will not reduce gas fees for transactions (at least not immediately), a primary sticking point that could prevent ETH from growing. By contrast, Solana (SOL) and Cardano (ADA) have cheaper fees due primarily to their PoS consensus mechanism. Could one of them overtake ETH?
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Source: https://medium.datadriveninvestor.com/will-ethereum-cryptocurrency-flip-bitcoin-at-1-dc7b6a62dd4a