After we’ve covered the procedure of Merge, we can continue with the possible consequences - here are our thoughts about the possible bad ending. Keep in mind that all the trial runs in test nets are being executed successfully, so the transition is very unlikely to fail. 🙌
How can the Merge fail
There are several ways of The Merge not succeeding, but the most obvious one is postponing the release.
Local dump
All the crypto projects are linked together and the possible Ethereum dump after the failure might result in the overall rate decrease. 🫤
Why dump though?
The current market sentiment is very unstable and the crypto industry main event of 2022 failing might result in even more investors withdrawing their money and switching to classic assets instead. Even if the transition is successful, the change won’t be too noticeable immediately, which might also alienate some investors. 👽
Trust issues
No other cryptocurrency can outperform Ethereum in terms of TVL, market cap and the overall transaction number any time soon. However, if the release is rescheduled some users might be concerned about the safety of a completely new network, resulting in withdrawals or transitions of their assets into other more trusted nets. 🌐 That is, however, likely to normalise after some time because of the pioneers, who will be using ETH 2.0 daily. 😎
Miners
Ethereum holds one of the biggest mining nets and once again, all those users are risking to lose their main income. Ethereum could not only fail in terms of releasing the PoS in time, but also in convincing miners to move to the ETC, which is just not ready to provide enough workload for all the nodes to be engaged. 😒 If the supposed hard fork is actually made, that could postpone the release even more due to twice the amount of work. Developers would have to stabilize the situation in terms of tokens, nets, exchanges, wallets with not just one, but two protocols and two tokens, while ETC would just be sitting there unused. 🤦♂️
Anyway, the possibilities of failure are minor. Ethereum will most certainly stay in demand for more than a decade from now and PoS will only strengthen its positions on the market after the introduction. However, we shall always remain cautious on the crypto market. 👀
Stay tuned 📻
