The anticipation for the upcoming network update, “The Merge,” has contributed to the recent rise in the price of Ethereum (ETH -1.71%).

Ethereum engineers revealed last month that the update was slated to arrive in the middle of September. The Merge will officially begin on September 6 and end between September 10 and 20. It is a thrilling time for cryptocurrency investors, and there are a few obvious reasons to think about purchasing Ethereum before The Merge.

1. One of the most robust networks is already Ethereum

Leaving aside The Merge, Ethereum is already among the industry’s top competitors. After Bitcoin, it is the second most popular cryptocurrency (BTC -1.89%). It is the most extensively utilized network for decentralized applications (dApps), such as NFT marketplaces and decentralized finance (DeFi) initiatives.

In other words, Ethereum already has a lot going for it and is more useful in the real world than many other cryptocurrencies. Ethereum has a more substantial chance of experiencing long-term growth than Bitcoin, and The Merge will only make that more likely, albeit no one can predict how it will fare over time.

2. The Merge’s energy efficiency will significantly increase

Ethereum still employs the time- and energy-consuming proof of work (PoW) mining protocol. However, The Merge will switch Ethereum to the significantly more compelling proof of stake (PoS) technology.

The network is anticipated to use about 99.95% less energy following the change than it did with its previous PoW technique. That might offer it a significant advantage over Bitcoin, which has received a lot of flak for how much energy it consumes.

3. It will have a more decisive competitive edge over smaller networks.

Expanding Ethereum’s capabilities and converting to a PoS architecture might help it become more competitive with newer blockchains.

PoS is already implemented in many smaller networks, giving them an advantage over more significant cryptocurrencies like Bitcoin and Ethereum, which continue to employ PoW. Ethereum will compete more fairly with networks like Solana and Cardano once it has finished its upgrade.

Also Read: Unlocking the Potential of Blockchain Technology: The Crucial Step

Before purchasing, evaluate the risks.

There are still hazards involved even though The Merge is a significant move on the right path for Ethereum.

Ethereum is still a speculative investment despite its benefits. Even if Ethereum has the most robust blockchain in the world, it won’t be easy to survive in the long run if cryptocurrencies and decentralized networks never get widespread acceptance from the general population. Furthermore, it is still too early to predict how the crypto market will perform in the future.

Additionally, Ethereum may experience severe volatility as The Merge is implemented. Although a flaw in the planned upgrade has already been discovered and immediately fixed, there is always a chance that further issues will crop up as the release date approaches.

Updates on Ethereum have a long history of being delayed. The Merge was initially scheduled for June, then moved to August, and finally postponed until September. While waiting for an update is preferable to hastily releasing one and running the risk of significant problems, all of these delays could erode investor trust in Ethereum and give rival cryptocurrencies more time to catch up.

Although Ethereum is far from ideal, this update ought to improve it as an investment. The time may be perfect for investing if you’re willing to take on additional risk in exchange for the chance to make considerable benefits perhaps.