Ethereum Merge: Tether to Support ETH 2.0 Amid Speculations of Delay
Tether’s chief technology officer Paolo Ardoino and Bitfinex said on Sunday that Tether plans to back ETH 2.0, despite widespread speculations that Ethereum Merge may be delayed again.
- While the Merge has been postponed multiple times, developers said it is now expected to happen in the week of Sept. 19, although the timeline is not specific.
- The Merge, whichis going to transition Ethereum to a proof-of-stake (PoS) system, is expected to reduce the network’s electricity consumption by more than 99%.
- Speculations of the Mergedelays intensified over the weekend, especially since the Sepolia and Georli testnet are yet to migrate from the proof-of-work (PoW) to PoS consensus mechanism.
- In addition, crypto hedge fund Galois Capital shared a survey in which more than 33% of the respondents said they expect Ethereum to fork into two chains.
- “It’s not about what I/we prefer between PoW/PoS. Stablecoins should act responsibly and avoid disruption for users. Especially for DeFi it’s really delicate,” said Paolo