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According to Anthony Di lorio, one of Ethereum's co-founders, the long-awaited Merge of Ethereum will herald a period of intense competition among many people to exploit the technological revolution fully.
Ethereum Merge To PoS
Di lorio made his remarks a few days before the anticipated switchover of the Ethereum blockchain from a Proof-of-Work (PoW) system to a quicker, more energy-efficient Proof-of-Stake (PoS) protocol. However, some influential business people think that PoW has plenty of room. Before the Merge, Justin Sun, the founder of Tron, purchased ETH for millions of dollars and advocated for a hard fork of the Ethereum blockchain to maintain PoW consensus. Proof-of-Work may not have the backing it needs to continue to be a force, according to Di lorio, current CEO and creator of Decentral and Jaxx. It takes into account "the time and effort that the Ethereum [Foundation] has invested" as well as the quantity of "important actors who consider PoS a superior approach." Di lorio noted that it had been evident since the inception of Ethereum that the network would eventually switch to a PoS protocol. He said,
"That was an essential thing that was discussed since the very beginning and was implemented, and now, it's being carried out."
According to Di lorio, the "difficulty bomb" that developers had inserted into the code served as a notice to miners that the shift would eventually take place. According to EthHub, the difficulty bomb aims to "freeze" the chain by raising "the level of puzzle difficulty" for the Proof-of-Work algorithm, which would shorten block creation times and lower payouts for miners.