Projects That Benefit from Ethereum Merge
Aug 23, 20222 min read
Of course, you've already heard of the Merge, but let us brush that up one more time just to double-check. So, what exactly the upcoming Merge is? The Merge is a joining of the Ethereum's layer with its new proof-of-stake (PoS) consensus layer, the Beacon Chain. It reduces the energy-intensive mining and secures the network using staked ETH. All this means more scalability, security, and sustainability.
According to the officials, the Merge will be ready within Q3/Q4 2022, so what projects can't wait for it? We have our personal top 3 for you to share.
✅ Lido DAO
That’s a liquid staking protocol on Ethereum. The project offers an opportunity to lock the ETH coins on the PoS consensus for a daily reward. Due to a growing number of people eager to participate in validating a new Ethereum chain, the project is getting a contender for native token price growth. Lido has already reacted by growing by 30% amid the news about the upcoming merger.
Lido's official website.
✅ Ethereum Classic
The news about Merge renovations on the Ethereum blockchain triggered the ETH price growth up 50% during the week. The price jump occurred amid expectations and vast investments into the ETH ecosystem from Bitmain, a leading mining equipment manufacturer. The coin is in the TOP 30 by market capitalization.
That's the only blockchain with a launching PoW-based smart-contracts opportunity and Ethash mining algorithm. According to the developers, the number of miners will help the safety growth and attract even more DeFi projects to ETH.
The miners using a particular ASIC for mining ETH will be pushed to move to the Ethereum Classic dues to the process's peculiarities.
Ethereum's official website.
It’s a decentralized exchange with margin and derivatives trading. The boosting of transactions’ speed will make the exchange more attractive for traders. The exchange will gain an opportunity to create competition for centralized marketplaces. Low Ethereum transaction speeds based on PoW were a main stopper for decentralized exchanges with a margin trading feature.
DYDX's official website.