These Changes Could be Expected After Merger – Ethereum Developer
The much-awaited Ethereum 2.0 is nearing its launch and a core Ethereum developer, Tim Beiko, has pointed out some significant changes that users can expect from the update, The Merge.
Ethereum is all set to move from its present PoW (Proof-of-Work) consensus to PoS (Proof-of-Stake) consensus––a transition that is said to happen in three phases. As a result, the network is going to be much bigger, highly energy-efficient, and more secure than its current version.
What is the Merge?
The Merge is an update to the Ethereum blockchain protocol that will be rolled out between 2022 and 2023 in three phases. It is a core technical change that will change the way blocks are mined on Ethereum’s network.
In essence, this update will eventually merge “the current Ethereum Mainnet… with the beacon chain proof-of-stake system,” states Ethereum.
Although the Merge has been popularly referred to as Ethereum 2.0, … Read more