American billionaire Mark Cuban very excited about Ethereum switch from PoW model to PoS for two main reasons. He believes that Merge will significantly cut the energy consumption of the protocol and it can turn ETH into a deflationary asset.
Mark Cuban – American billionaire
Mark Cuban “I'm Optimistic”
This summer, Ethereum is expected to change the infrastructure from a PoW power-intensive mining model to PoS, cause blockchain less harmful to the environment. Many investors and participants in the space think the upgrade will be beneficial Ethereum and accelerate its dominance.
Prominent among them is the owner of The Dallas Mavericks – Mark Cuban. He said that after the transition, Ethereum will have a much more “green” focus, which will increase adoption rates in the wider community.
Additionally, Cuban predicts the transition will "could make" ETH become a deflationary asset. The billionaire explained that the supply of the coin will decrease sharply, while the mining process ETH new slower.
“After the Merge, the amount of ETH issued is expected to decrease by 90%, resulting in similar fees to reduce the one-year supply of ETH 5%,” the company said. blockchain IntoTheBlock proposed earlier this year.
Cuban said he has not yet invested in Beacon Chain but admitted to allocating some of his assets to ETH and multiple projects built on the Ethereum blockchain.
Mark Cuba “ETH has a lot of potential“
Despite being opposed to the fledgling asset class before, the businessman is now an ardent supporter. He often praised the value of Bitcoin with the argument that it is a better financial instrument than gold. Cuban's NBA team Dallas Mavericks accepts digital assets as a means of payment for tickets and merchandise products. Even memecoins Dogecoin Popularity is also one of them.
However, Cuban seems to have a particular view of Ethereum. In October last year, he advised those who are just starting out in space cryptocurrency should choose ETH as an investment option because it has the greatest upside potential:
“As an investment, I think ETH will gain the most.”
Before that, he gave 3 reasons why ETH will dominate Bitcoin Future. It is the higher number of transactions, the variety of transaction types and the efforts to develop inside the brainchild cryptocurrency by Vitalik Buterin.