Here is what XGo Head of Product says about ‘The Merge’! In a recent interview, Josh Cowell, the Head of Product at XGo, talked about the upcoming event, ‘The Merge’, which will happen in September.
The Benefits of ‘The Merge’
In a recent interview, Josh Cowell, the Head of Product at XGo, sat down and talked many things about ‘The Merge’. To add the information, ‘The Merge’ is an Ethereum upgrade from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Some people may also be familiar with the concept of Ethereum 2.0, the new Ethereum that uses PoS.
Josh Cowell talked about the benefits of ‘The Merge’ in the interview. According to Cowell, energy consumption to maintain the blockchain should plunge by around 99%. Also, average block times can decrease by up to 12%.
Cowell said in an interview with Cointelegraph, “PoS will also lay the foundations for innovations such as sharding that’ll boost scalability and speed even further.”
The Downsides of ‘The Merge’
When talking about the downsides of ‘The Merge’, people will likely talk about miners. ‘The Merge’ will practically eliminate miners, who gain income from mining activity. Josh Cowell also mentioned the impact of ‘The Merge’ on miners.
Cowell stated, “Many miners are also staunchly against Proof-of-Stake because they’ll no longer be able to use their hardware to get ETH rewards — and this is a big blow given how expensive this equipment can be.”
What Does It Mean?
Josh Cowell mentioned the advantages and disadvantages of ‘The Merge’ in a recent interview. Even though there are a lot of benefits to the upcoming event, and many people are excited about it, ‘The Merge’ will bring an impact on miners. Since then, many people have tried to find solutions for miners, including the suggestion to move to the Ethereum Classic (ETC).
— Ethereum Classic (@eth_classic) August 22, 2022
Now, the community looks forward to seeing more updates on ‘The Merge’.