The chief executive of financial advisory giant deVere Group says that Ethereum’s (ETH) recent transition to a proof-of-stake consensus mechanism should drive up the prices of crypto assets.
According to a new company blog post, deVere Group CEO Nigel Green says that ETH’s merge is a “landmark, historic moment” that will serve as a long-term catalyst for the digital assets industry.
“The years-in-the-making Merge, a network-wide, grand scale upgrade is here. This is [a] far-reaching overhaul of the most commercially important blockchain in the digital asset ecosystem is probably the most important, landmark event in crypto history, since the launch of Bitcoin.
It transforms Ethereum from a proof-of-work to a proof-of-stake mechanism, which lowers transaction costs, enables the network to process more transactions in