The Merge Goes Live, And A New Era For Ethereum Begins – Here’s The Whole Bushel

The Merge Goes Live, And A New Era For Ethereum Begins – Here’s The Whole Bushel
фото показано с : zycrypto.com

2022-9-16 21:21

After months in the works, Ethereum’s Merge goes live without hitches.The Merge sees the network’s transition to an energy-efficient Proof-of-Stake (PoS) consensus mechanism.Not all entities are pleased with the new feat, with some critics poking holes into the future of Ethereum.

Ethereum’s developers can breathe a sigh of relief after the widely-anticipated Merge event occurred, ushering in an era of energy efficiency and innovative scaling solutions.

On Sept 15, at block 15537393, Ethereum ditched Proof-of-Work (PoW) following the Merge of the Beacon Chain’s consensus layer with the Ethereum mainnet execution layer. The event took place at 6:42 UTC, and at its completion, the second largest network took a giant leap into the future.

The transition has been hailed as slashing the energy consumption rate of the network by as much as 99.9% since barely any computing power will be used to secure the network. Vitalik Buterin and other leading developers stated PoS would improve the scalability and security of the network.

“And we finalized,” tweeted Vitalik Buterin, Ethereum’s co-founder. “Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.”

The road to the Merge was anticipated by Google, with the search engine creating a countdown toward the event. On Youtube, nearly 50,000 people watched the “Ethereum Mainnet Merge Viewing Party”, signalling massive interest in the network’s latest iteration.

How it works

Under PoS, the concept of miners will not exist; instead, validators will be tasked with securing the network. The validators are expected to stake a minimum of 32 ETH that operate like a raffle draw. The higher the ETH staked, the higher the chances for the validator to be picked to write a script for a block on the network.

Buterin noted that the Merge is the first in a long line of developments for the Ethereum network, and upon completion, the network will be able to process 100,000 transactions per second. After the Merge, enthusiasts can expect the Surge and the Verge stages, which promise increased scalability and statelessness. The Purge will eliminate historical data and technical debt, while the splurge will introduce a slew of miscellaneous features.

Naysayers can’t dim the lights

Not everyone is pleased with the network’s historic transition to PoS. Miners that have spent thousands of dollars on equipment might be the biggest losers with several PoW hard forks springing up.

PoS critics warn that it could expose the network to new attacks and that the validators will be filled with a few large syndicates with enough funds to buy their way through.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ERA (ERA) на Currencies.ru

$ 0.0003808 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 19.99 %
Cегодня L: $0.0003808 - H: $0.0003808
Капитализация $0 Rank 99999
Доступно / Всего 0 ERA / 240m ERA

era ethereum merge occurred event widely-anticipated ushering

era ethereum → Результатов: 74


Фото:

Telos Solution-driven EVM is Live For Smart Contracts and DeFi

Ethereum blockchain ushered in the era of smart contracts via the Ethereum Virtual Machine (EVM). Over the years, smart contracts have witnessed immense adoption including in the mainstream sector. Ranging from decentralized exchanges, staking pools, lending and insurance protocols, all of these have been pivoted with the aid of smart contracts. The Ethereum Virtual MachineRead More

2021-11-12 09:00


Разработчики Cardano запустили обновление Mary с поддержкой нативных токенов

В сети Cardano состоялся хардфорк Mary. Обновление открыло возможность создания нативных токенов, подобных стандарту ERC-20 в сети Ethereum. Today, following the successful #maryhardfork we have begun a new era of native tokens on #Cardano.

2021-3-3 19:31


“Cardano In 2020 Will Be A Beast,” Says Founder Charles Hoskinson

Cardano’s long-awaited and much anticipated Shelley era is fast approaching with the company having launched an incentivized testnet that will reward ADA holders for delegating their stakes. Cardano founder and CEO Charles Hoskinson, who also co-founded Ethereum took to Twitter to share that they are fast-moving to new releases, predicting the network to be a […]

2019-11-18 17:05


Новый ASIC для Ethereum занял лидирующие позиции

На саммите New Era Mining в Китае Canaan представил новый ASIC для Ethereum, который более чем в 5 раз эффективнее других доступных графических процессоров. Для мелких майнеров это не сулит ничего хорошего, и потенциально повышает централизацию сети.

2019-9-26 15:15


Фото:

What’s Being Built – and What’s Not – on 2019’s Smart Contract Blockchains

Has anyone checked in with EOS lately, to see how it’s doing? How about Tezos – any signs of life there? In mid 2017, two of the largest token sales in history birthed two smart contracting platforms that promised to topple Ethereum and usher in an era of fast and low-cost value transfer with dApps […] The post What’s Being Built – and What’s Not – on 2019’s Smart Contract Blockchains appeared first on Bitcoin News.

2019-8-30 18:40


Фото:

The Demise Of The ICO And The Rise Of The Digital Security

As the ICO fades, crowdfunding will come back stronger When the Ethereum blockchain came online in March of 2016 (the first stable version) it ushered in a new era in funding for startups. Easily created “coins” or “tokens” on Ethereum’s public blockchain allowed virtually anyone with an idea to raise funding from global sources with […] The post The Demise Of The ICO And The Rise Of The Digital Security appeared first on Crypto Briefing.

2018-11-19 20:38