Ethereum Fusion: The new path?

The technological update known as Ethereum cryptocurrency fusion is scheduled for the middle of this month, and among the many benefits it offers is that of reducing energy consumption by more than 99% by eliminating mining.

Currently the latter is essential for the currency and this is caused by the fact that it is estimated that 10 million graphic processing units (GPUs) are used to achieve this, something that will be executed by thousands of computers in the new version called Ethereum 2.0.

Energy consumption has been the factor for which cryptocurrencies have been demonized in the world and if this can be eliminated then investors could migrate from other cryptocurrencies, including Bitcoin, to this one producing greater strength to it.

Ethereum will move from PoW or Proof of Work mode to PoS or Proof of Stake, where mining will be eliminated and thus access to the Blockchain will be faster and more efficient and could allow it to remain unregulated in countries where crypto is unregulated.

In addition, the merger sets an example to others that significant advances can be made in the blockchain structure and will show regulators and investors that energy intensive use is not needed and that it is possible to exist without it.

According to estimates by some experts, the worst enemy of cryptocurrencies is energy consumption at a time when this has become vital in Europe and in Asian countries, which for obvious reasons have had to regulate their energy consumption, so they predict that cryptocurrencies will never again reach prices like those achieved recently when Bitcoin reached 69 thousand dollars.

There are even those who estimate that the price will continue to fall.