Ethereum merged on the Kiln network and it is eventually going to be moving to Proof of stake from Proof of work. This is amazing news, all these so called "Eth killers" are really going to have to take notice.
For anyone who doesn't understand, without going into insane detail. Proof of work is a big part of why Ethereum gas fees are so high and why it is so limited as far as scaling itself is concerned. That's right you guessed it, Ethereum moving to proof-of-stake is going to be addressing a lot of Ethereum's limitations.
This was the main thing that IMO I think these chains that are marketed as "Eth killers" had on our beloved Ethereum. No longer. If you were like me and you didn't think anything was going to kill Ethereum regardless before. You're definitely like me and you don't have a shadow of a doubt now that Ethereum is here to stay and absolutely no other chain is going to be "killing" it.
I love Ethereum and I love incredible chains and ecosystem's like Polygon that have come out of Ethereum. This being the obvious Ethereum subreddit I'm assuming we all love Ethereum. This is the most bullish news I've personally heard in a long time and I'm incredibly excited to see where we're going to be going.
What are your thoughts on Ethereum moving to PoS? How do you think this is going to affect Side-chains and L2s as well as DeFi on the chain? Curious to hear your thoughts.
Edit: Seems like I've misunderstood what PoS actually means for Ethereum as far as gas fees are concerned, would love to be educated on the topic more and maybe someone to explain what would actually lower Eth gas fees other than using a L2 like Polygon. Thank you.
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