Is the Global Governance Taking Notice of The ETH Merge?

On 15 September Ethereum's long-awaited ETH merge took place. Ethereum, one of the most popular blockchains on the planet, reduced its energy consumption by about 99% and increased its cyber resilience by overhauling the way network participants validate transactions – a milestone called "The ETH Merge." But after merging one thing is very crucial and that is the global governance for Ethereum.

According to CoinDeck, instead of using about as much energy as all the televisions and computers in America combined annually (100 billion kilowatt-hours, according to the Biden administration), Ethereum will use as much energy on an annual basis as Gibraltar, which has just 30,000 residents, all while supporting billions of dollars worth of transactions daily.

Jared A. Favole is a senior director of communications and policy at Circle, the principal operator of USD coin (USDC). Instead of continuing to use a proof-of-work consensus mechanism, where high-end computers perform and solve energy-intensive mathematical proofs to validate transactions, Ethereum now uses a proof-of-stake model. Using proof-of-stake means network participants will instead deposit ether, the native token of Ethereum, as collateral to validate transactions. (The process to "mine" or validate transactions on the Bitcoin network still uses proof-of-work.)

Global governance and ETH merge is the process by which protocol changes are made. It's important to point out that this process isn't related to how people and applications use the protocol – Ethereum is permissionless. Anyone from anywhere in the world can participate in on-chain activities. There are no rules set for who can or cannot build an application or send a transaction. However, there is a process to propose changes to the core protocol, which these applications run on top. Since so many people depend on Ethereum's stability, there is a very high coordination threshold for core changes, including social and technical processes, to ensure any changes to Ethereum are secure and widely supported by the community. If global governance and ETH merge walk hand-in-hand then things would get better and results would be more fruitful.

Ethereum (ETH): Can the DeFi King Finally Become Crypto's Biggest Asset?

Ethereum (ETH) finally completed its much-awaited merge with a Beacon Chain PoS consensus. The second biggest cryptocurrency, widely acclaimed for its introduction of decentralized finance into the crypto world, is now tipped to push Bitcoin (BTC) with this major update. Ethereum (ETH) will now be able to process thousands of transactions per second as opposed to just 15 per second before. Ethereum (ETH) will now be very scalable and interoperable to make for the easy build of DeFi apps and smart contracts.

What more?  Ethereum (ETH) will witness a 99.9% reduction in energy consumption, leading to a reduction in gas and network fees. DeFi developers are now more inclined to move to the Ethereum (ETH) blockchain than ever before