Very optimistic about investor sentiment as to Ethereum following the completion of the long-awaited merger, the network’s co-founder, Vitalik Buterin, revealed in a recent interview.
As he pointed out the delay in completing the Ethereum merger has affected the investment climate, however he expressed faith that the mood will become positive when the network makes the transition from the proof of work mechanism to the proof of participation mechanism.
“Once the merger actually happens, I expect that morale will go way up. Essentially I expect that the wait for the merger will not significantly affect the price, not only in market terms, but even psychological and narrative terms. In narrative terms, I don’t think the price is going to change much until after the merger happens,” Buterin pointed out.
It always takes time
Vitalik Buterin focused on the prospect of this major change, which is essentially the process of implementing the first version of Ethereum, while noting that developing new software technologies always takes time.
“I think the merger is both fast and slow. I mean our results have been pretty mixed so far. If you compare the process until Beacon Chain came out with the process until ETH 1.0 came out, for ETH 1.0 it took me 20 months to write the first version of the white paper to get it out.
But here we’re looking at a merger that will take maybe about 22 months or 21 months after the initial release of Beacon Chain. And of course the initial release of the Beacon Chain itself was after a development process,” he said.
The CEO also stresses that greater efforts are being made to get ETH 2.0 to the finish line, with the goal of balancing the push to complete the merger in a timely manner without making mistakes that will be costly down the road.
“I think there are these two opposing pressures that we have to deal with as a community, where one is the pressure to speed things up because there are other awesome researchers and other awesome developers. There’s a lot more effort on all these problems. But then there’s also the pressure to slow us down, which is the desire to not create problems on the network.”
