Recently, the founder of Hyperchain, Shi\nXingguo, was interviewed by 21Jingji to explain the Ethereum merger. In the\narticle “Controversial Ethereum ‘Merge’: Attempt to Reduce Power\nConsumption from Proof of Work to Proof of Stake,” Shi Xingguo provided\ndetailed explanations of the Ethereum merger. He discussed the potential risks\n(technical or moral) and how it would affect the global ecosystem. To what\nextent would technological upgrades determine the development of the\ncryptocurrency industry? Would the attitude of overseas regulatory agencies\ntowards cryptocurrencies change in response to this? How should we view the\nhard fork, and how can we interpretate Vitalik Buterin’s optimistic views?<\/p>\n\n\n\n\n\n\n\n
Shi Xingguo believes that this hard fork\nis a necessary attempt. Ethereum has made a lot of progress at the Layer 2\nlevel, but it has been stagnant at the Layer 1 level for a long time. The\ncapacity and performance of Ethereum are no longer proportional to its\necological scale, which has led to the emergence of many Ethereum sidechain\nprojects and caused serious ecological fragmentation.<\/p>\n\n\n\n
Shi Xingguo believes that the risk of\nthis hard fork is that it may split the Ethereum ecosystem in two, but this is still\nmuch better than letting the Ethereum ecosystem continue to split on different\nsidechains. Therefore, this hard fork can be seen as a major upgrade or as a\nself-rescue for Ethereum.<\/p>\n\n\n\n
Regarding the interpretation of overseas\nregulatory policies in the cryptocurrency industry, Shi Xingguo believes that\nthe attitude of overseas regulatory agencies towards cryptocurrencies has good\nsustainability and predictability. Except for areas with strict restrictions,\nmost regulations are based on existing financial classifications and regulatory\npolicies, and have positive effect currently. Therefore, regulatory attitudes\nare unlikely to change dramatically.<\/p>\n\n\n\n
Regardless of the final outcome, the news\nof the merge has boosted the price of ETH, which has risen more than 60% since\nits decline in June. On August 10th, ETH rose 5.4% to $1941 per coin, the\nhighest level in two months. However, compared with the high point of over\n$4800 per coin in November last year, there is still a long way to go. Vitalik\nButerin has also been attending major forums and conferences, releasing\noptimistic statements.<\/p>\n\n\n\n
Shi Xingguo stated that Vitalik Buterin\nhas given many optimistic indications about the merge, which is a necessary\nmove as a community leader. “Essentially, the community consensus on this\nmerge is far more important than the technical upgrade.”<\/p>\n\n\n\n
Link of the full Interview: <\/p>\n\n\n\n