Ethereum Shift to PoS Could be the Change in Crypto's Future

Ethereum co-founder Vitalik Buterin acknowledged that high fees are threatening the future of the decentralised economy.

He noted that the increased fees are disrupting Ethereum's usability. He also expressed his frustration with high fees and how such fees hinder the implementation of critical projects. Despite this, he was optimistic that sharding could reduce the fees by implementing sharding.

Aside from high fees, the platform's decentralised goal could be jeopardised by bad actors motivated by personal gain. Ethereum's founder believes that solving shortcomings such as gas fees could enable it to become a foundation for socio-political change. Although Ethereum has received criticism for its high fees, data shows a shift. The Ethereum blockchain on March 9 recorded a drop in transaction gas fees to a six-month low, the lowest level since August 2021. Meanwhile, ETH remains to be a preferred transaction method. Crayon DAO raised 900 ETH to purchase an ancient artefact from the museum on the brink of bankruptcy. Ethereum is working to roll out the PoS with the planned merge; we could see new projects hopping onboard. The coming Ethereum Merge will aid in connecting the existing Mainnet with the Beacon Chain PoS mechanism. Hence, the much-awaited shift to PoS could change the future of crypto and how they operate.