Both the ongoing downturn in the cryptocurrency markets and the upcoming Ethereum merger were in the spotlight on the second day of the ETH Community Conference. The wider Ethereum community gathered in Paris for the largest annual European Ethereum event, which was attended by key players, companies and individuals.

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Will the Ethereum Merge hopium continue, or is this a bull trap?

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Cryptooshala spoke with Jessica Lin, an advocate for decentralized exchange infrastructure developers at 0x Labs, to reveal the most important topics for discussion in the ETH community. Although the market continues to experience significant decline, Lin believes that Ethereum still provides a flexible and secure system for creating, connecting and monetizing services and products:

“We have been in business since 2016, we saw the crash of 2018 and realized that these times in the market allow for rationalization and ultimately strengthen the reliability of the underlying blockchain system.”

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The Ethereum ecosystem is about to undergo its own test of strength with the long-awaited transition from the current proof-of-work consensus protocol to a proof-of-stake based system. ETH 2.0 is scheduled for the second half of 2022, and Lin believes the ecosystem is ready for it:

“The successful merger of the Ropsten and Sepolia testnets gives hope that the mainnet merger in September will go well. We are excited about this and are preparing ourselves as well as the integrators who are building on our platform.”

Lin also expects the merger to be simple, with any potential issues that could arise on the back end of decentralized applications running on the Ethereum blockchain.