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Bytes from The Greatest Migration Ever in Crypto World | The ETH Merge

10-Sep-2022 By: Divya Behl
Bytes from The Great

The world’s second-largest asset—Ethereum, is the most talked decentralized, open-source blockchain today. And the only reason for its sudden hype is Ethereum Merge.

To all those who are still wondering, Ethereum Merge is the talk of the town these days. Ethereum’s shift from its PoW to PoS mining consensus is something that's making the people in the crypto sphere curious.

The recent Twitter meet by Elite Web 3.0 Forum created a significant enthusiasm in the crypto community about ETH Merge. All of the major concerns surrounding the ETH Merge were very well discussed in the Twitter space held on 9th Sep, 22.

Elite Web 3.0 Forum, India’s first and most curated WA community on Web3, Blockchain, and Crypto, organized an event on the greatest migration ever in the crypto world–The ETH Merge. The moderator of the event and co-founder of Coin Gabbar, Sudeep Saxena spilled the beans about ETH Merge along with 9 other speakers. The event was powered by CoinGabbar, Muffin Pay, and KoinX.

All About The ETH Merge Meet

The ETH Merge event held on Twitter space was full of millenials from the cryptocurrency community. The speakers were from all over the nation.

The first speaker of the event, Naimish Sanghvi—co-founder of Coin Crunch India, discussed the basics of ETH and its transition from PoW to PoS consensus. He also mentioned why the merge is happening and its complete back story.

The next speaker—Rohas Nagpal, chief blockchain architect of HyFi and author of the Crypto Playbook, discussed the technical difficulties that might come along post merge. He mentioned how the ETH Merge will give rise to multi-layer approval mechanisms and consensus layers. He even talked about holding ETH on non-custodial wallets, instead of custodial wallets.

The event was further addressed by Pavel Kravchenko, founder and CEO of Distributed Lab. Pavel highlighted the security-related concerns regarding the ETH merge followed by Kashif Raza. The founder of Bitinning— Kashif Raza discussed how the ETH Merge might create a split between PoW and PoS supporters.

Later on, Punit Agarwal—founder of KoinX, discussed the taxation on newly minted tokens received after the merge. And post this, Chahal Verma, crypto researcher and investor, supported the views of Kasif Raza.

Another eminent speaker, Rohan Sharan, founder of TimeChian Labs and Bitcoin Association Ambassador of India, discussed the technicalities related to the ETH merge and explained how hard fork will divide the community in two.

Last but not least, Sudeep Saxena, co-founder of CoinGabbar, discussed the sensitivity of the ETH Merge and what all change it can bring in the crypto community. He mentioned how ETH is an asset class crypto, having a market cap of more than $200 billion. He stated that the community is surely divided into two major bits but this merge is the need of the hour. He explained how every listener and crypto enthusiast should have the understanding how going long or short on the ETH holdings is a must. 

Sudeep later acquainted the community with the security flaws that the ETH merge will bring in the near future. This made listeners think about what technology embarks in the coming times and changes that will happen in our ecosystem due to the ETH Merge. 

At last, the event had an engaging Q&A session which was successfully addressed by the event organizers and speakers.

The ETH Merge is scheduled to happen on 15th of Sep, 22. And this merge is surely one of its kind in the history of the crypto sphere. With such a big shift in the crypto industry, there are many ‘what-ifs’ prevailing but all of these will only get a conclusion once the merge takes place.

What do you think about the ETH merge? Will the Ethereum users or ETH holders need to take any action after the Merge? Comment your views on this below.

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