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What’s at Stake: Will the Merge Turn Ether Into a Security?

Tim Beiko, who runs protocol support for the Ethereum Foundation, counter-tweeted to explain that Ethereum has no “validation pools” at the protocol level. More importantly, Beiko suggests that the proof-of-stake hashing Levitin referred to is nowhere near as computationally intense as proof-of-work hashing. Therefore, it shouldn’t be categorized as “efforts of others,” Beiko argued.