After the recently announced Merge statements, Ethereum started to be talked about a lot. On the one hand, the efficiency of the network is discussed, on the other hand, the expectations are quite high. Finally, Bank of America has published an Ethereum-focused report. In its report, the bank also shared its expectations, referring to Ethereum’s scalability and competitors.
According to Bank of America, Ethereum Will Be 99 Percent More Efficient After PoS Migration
The Ethereum Blockchain network currently uses the Proof of Work consensus mechanism. The Ethereum network, which is very actively used when it comes to DeFi and NFTs, works with very low efficiency due to its PoW structure. Trying to switch to Proof of Stake as a solution, Ethereum is doing this in stages.
Merge, the first of these 5 phases, was recently announced. According to Bank of America, the network that will switch to PoS with Beacon Chain can be upgraded from 15 TPS to 100,000 TSP after the upgrade.
In addition, Bank of America, which includes other details in its report, emphasized that Ethereum has taken a large market share due to the high scalability solutions of new Blockchain networks such as Binance Smart Chain, Tron, Avalanche and Solana.
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