Ethereum merge


Ken_ token2022/09/14 14:22
Follow
Ethereum merge

Ethereum Merge.

The Ethereum merge will pose the biggest software upgrade in the history of tech and it will be a huge milestone for the Ethereum ecosystem.

It is called the merge because it's the direct opposite of a fork. Two networks will be merging as one- the current Eth pow and the beacon chain.

The beacon chain introduced the POS consensus that we'll see the present Eth POW migrating to at the merge.

It's like changing the location of your business... The beacon chain is like the new location and the current Eth POW consensus is the current operation of the business. So Eth is migrating to a new building where they can fully explore their potential.

Yeah, gas fees won't reduce after the merge but it's a big win for the Eth network. The merge is like moving to that big facility where you can finally use sophisticated equipment (sharding) to scale your business. This is why we are bullish about the Eth merge.

Both the beacon chain and the Ethereum mainnet have been running side by side. The beacon chain is where the new consensus has been built (proof of stake). There is no transaction going on this chain. Ethereum mainnet still running on the Proof of Work consensus is where all the transactions you've been doing on the Eth network have been taking place. Hence the merge is a change of the Eth consensus from POW to POS- by moving the eth mainnet and its transactions to the beacon chain (I feel like a nerd right now🧔).

To be continued

Follow

Support this user by bitcoin tipping - How to tip bitcoin?

Send bitcoin to this address

Comment (0)