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City Bank’s Report Lays Out The Aftermath Of The ETH Merge

The post City Bank’s Report Lays Out The Aftermath Of The ETH Merge appeared first on Stablecoin Vs Fiat Currencies: Features, difference, And Factors

According to City Bank’s report, the transition volatility has remained subdued despite the high hopes after the Ethereum Merge was successful. 

The merge involved the switch to a more energy-efficient proof-of-stake (PoS) consensus from a proof-of-work (PoW) process. Following the transition,  rewards are now not given to the miners and the ETH issuance is estimated to plunge 90% to around 600,000.

ETH has become a yield-bearing asset after the removal of mining, with a current staking yield of 4.5%. 

In the aftermath of the merge, the network activity has increased as ETH produces a yield for validators. However, the fees is still very low. 

consensus on the moving average

I research on consensus and need a forced delay between submittability of new blocks. In bitcoin you use stochastics + processor clock speed. This allows you to choose an expected forced delay, which you chose to be 10min. Quote from White Paper: "To compensate for increasing hardware speed and varying interest in running nodes over::Listen

I research on consensus and need a forced delay between submittability of new blocks. In bitcoin you use stochastics + processor clock speed. This allows you to choose an expected forced delay, which you chose to be 10min.

Quote from White Paper: "To compensate for increasing hardware speed and varying interest in running nodes over time, the proof-of-work difficulty is determined by a moving average targeting an average number of blocks per hour. If they’re generated too fast, the difficulty increases."

I do not see a way to find consensus on the present value of the moving average without yet implementing another consensus mechanism. But it appears necessary to have a very accurate global consensus on the exact value of the average because this value determines the mining difficulty. So how do you do it? Please give all the details in a novice-comprehensible way.

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City Bank’s Report Lays Out The Aftermath Of The ETH Merge

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