Montana Wong says "Ethereum will undergo once-in-a-lifetime phenomenon called 'tripple halvening' after the upcoming merge.
Ethereum will reportedly undergo a once-in-a-lifetime phenomenon called the “Triple Halvening” after the upcoming merge. As per the latest Twitter thread by known blockchain engineer and entrepreneur Montana Wong, this may be the right time to invest in Ethereum due to a rare incident. As explained by Wong on Twitter “the event will drastically impact every Ethereum holder”. For those who are wondering, the merge is upcoming with a major software update to the Ethereum network that transitions it from using a Proof of work to a Proof of Stake consensus mechanism.
What is halvening
Halvening is a term used to describe a feature of the Bitcoin algorithm that, every few years, automatically cuts the amount of bitcoin awarded to miners by half. It reduces the issuance rate of BTC (bitcoin) over time and creates “deflationary pressure”. As explained by Wong, “This reduces the BTC sell pressure from miners selling their BTC rewards. As a result this causes the price of BTC to increase as there becomes less supply on the market. ECON101 Historically, Bitcoin halvening events have correlated directly with the start of crypto bull cycles"
How halvening may impact Ethereum
Ethereum's ETH issuance today under Proof of Work works slightly differently. As per Wong, instead of algorithmically reducing the miner ETH reward (i.e. issuance rate), it's done through software updates that have been agreed upon by the community.
Wong claims “the merge that has people excited is the transition to Proof of Stake, which switches the Ethereum network from a miner secured one to validator secured one. It will reduce the overall energy consumption by ~99.95%”
He added, “Validators consume very small amounts of energy. That's because they use the game theory involving capital & punishment to secure the network rather than special hardware & energy.”
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 "Ethereum may undergo ‘rare’ Triple Halvening: What is it and should you invest now")
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