Tether is in Full Support of ‘The Merge’

Ardoino’s Announcement Regarding ‘The Merge’

Finally, there’s a good piece of news for all the Ethereum 2.0, or ‘The Merge’ supporters. Tether has introduced plans to provide support to ETH 2.0. The announcement has been made on Sunday by the Chief technology officer of Tether, Paolo Ardoino. It’s important to note that the announcement is made despite the widespread predictions regarding Merge getting delayed again.

We all know that the timeline of ‘The Merge’ has been pushed back a lot of times. Therefore, nothing can be said with authority as of now. However, according to Ethereum developers, we can expect ‘The Merge’ to be held in place around September 19. A major reason for this mass -excitement is: Currently, Ethereum is shifting to a Proof-of-Stake consensus protocol from the Proof-of-Work mechanism. This update is going to bring down the consumption of the network’s electricity to less than 1%.

Let’s Hear What The Survey Says

As the Georli and Sepolia testnet are yet to be migrated to the PoS consensus protocol, a lot of analysts started speculating that the ‘The Merge’ is going to be delayed, once again. It is obvious, whenever there are speculations, there are surveys. In this case, it was regarding Ethereum’s forking into two chains. The survey was conducted by crypto hedge fund Galois Capital. According to the survey, around 33% of the respondents believe that there is a high probability of Ethereum forking into two chains.

When asked, Ardoino replied by saying that it’s not a matter of what he prefers, whether it’s PoW, or it’s PoS. He said that the stablecoins need to be responsible as a currency and prevent disruption as much it can. A major reason for this preference is Decentralized Finance, commonly known as DeFi.

Andrew Smith

Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.