The Merge of the Ethereum Ecosystem

Ethereum's final rehearsal merge on the Goerli testnet is completed. Now all eyes are on the mainnet merge that is supposed to happen in September.2020, and ETH2.0 will take over. Now Ethereum Miners are in a Catch-22 situation, and the crypto community is divided.

Gas was the problem

ETH was started as Proof of Work, which needed mining (complex solving) to mint tokens, and miners set the fees for every transaction done. Ethereum miners used to make the highest profit from all transactions, and this is why people were moving to other platforms. Then, from nowhere, Vitalik found an idea of moving ETH from PoW to POS, and from there miners' hearts started heavy beatings.

Miners' Tensed

With ETH 2.0, it will become Proof of Stake, and it will require staking instead of mining to mint new tokens. Miners will have no say in other people's assets. Moreover, miners might have to move to mine other cryptos like Bitcoin, where they will face competition of their own.

Mixed views from the crypto community

WELCOME- The crypto community is divided on the Ethereum reboot. Some are very excited. For example, Circle and Tether have announced that they will only support the Ethereum network post-merge.

NOT WELCOME -There are still some that are not sure with ETH2.0. For example, the Chainlink (Link) protocol is drifting away from forked Ethereum, and won't support it post-merge.

Concluding

Finally Ethereum is all set to become a POS, this was not an easy step, it crossed many ups and downs, but a determined Vitalik made it possible, yet the final merge is still required, which will decide ETH's future. If final merge is successful, then ETH2.0 will begin.