Ethereum Merge, one of the much anticipated upgrades in the crypto world, will likely take place in September. So how might the Shiba Inu (SHIB) be affected by the transition to PoS?
Ethereum network moves away from mining
The move from PoW to PoS is fundamentally changing Ethereum. The new configuration will make the network cheaper, faster and energy efficient. PoS is subject to different criteria than Proof of Work. With ETH 2.0, validators will replace miners. The entire Ethereum network will undergo a major change.
The consequences of this will have an impact on all Ethereum coins, including the Shiba Inu. In the rest of the article, let’s take a look at analyst Vignesh Karunanidhi’s expectations from Shiba after the merger.
Ethereum Merge and Shiba Inu (SHIB)
Ethereum merge is the merging of Beacon chain and mainnet. The primary and final change that will be triggered by the merger will be the network’s transition from PoW to PoS. However, this transition will not interfere with the normal functioning and operations of the Shiba Inu.
The primary change will be in the verification process of transactions. Miners will be replaced by validators, which will change the verification process for each transaction. Meanwhile, merge is seen as an environmentally friendly consensus. Since this change may cause some delay after merge, there is a possibility of disrupting SHIB operations. This is only a possibility, as a successful merge may not block transactions, but may take some time to settle.
Ethereum sharding and its implications
Ethereum Sharding, a work expected to be implemented in 2023, is said to improve scalability. Ethereum 2.0 is expected to improve the transaction speed and the capacity of the network in particular. Because, on the other hand, the Ethereum network has a long history of high gas fees, which has disappointed the ETH community. A possible shredding launch is likely to lower gas fees. Thus, it signals that positive news is approaching for the ETH price.
For all SHIB traders who are concerned about higher ETH gas fees, Shibarium helps to minimize gas fees, especially with its transaction packaging ability. These are all just possibilities, as the outcome and effects can only be analyzed after the Ethereum merge. Also, the Shiba Inu is showing more improvement throughout the year. The suite of improvements deployed by the SHIB team has been such that it does not wait for any merger as it has been able to bring its growth on its own.
The larger implications of the Ethereum merge become clear when it goes live in September. Merge’s likely outcome cannot be fully predicted as it is something that needs to be evaluated throughout the process. cryptocoin.comIn this article, we have explained in detail what will change in the network with the Ethereum merge.
Whales bought a large amount of SHIB prior to merger
According to data provided by WhaleStats, Ethereum whales are currently purchasing massive amounts of SHIB. An Ethereum whale named “Gimli” alone bought 187 million SHIB.
🐳 ETH whale "Gimli" just bought 187,000,000,000 $shib ($1,991,550 USD).
Ranked #248 on WhaleStats: https://t.co/3bvrsUeq69
Transaction: https://t.co/950Rn6tTiY#SHIB #ShibArmy
— WhaleStats (tracking crypto whales) (@WhaleStats) July 27, 2022
In the other transaction, another whale named “Bluewhale 0195” bought another 147 million SHIB.
🐋 ETH whale "BlueWhale0159" just bought 147,000,000,000 $shib ($1,556,730 USD).
Ranked #373 on WhaleStats: https://t.co/b0sIz9f1O1
Transaction: https://t.co/pz5D8NcnqJ#SHIB #ShibArmy
— WhaleStats (tracking crypto whales) (@WhaleStats) July 27, 2022
