Merger: Ethereum has officially entered a new era

Made ! This morning around 8:30 AM, Ethereum switched from Proof of Work to Proof of Stake as part of The Merge operation. It was Vitalik Buterin, the co-founder of this blockchain, who announced its success on Twitter.

This move, highly anticipated by the crypto ecosystem, marks a turning point for the sector. And it is not for nothing that minors will no longer validate transactions, as in the case of bitcoins, but validators will be responsible for ensuring the proper functioning of the network. The latter will need to place 32 Ether in escrow in order to be able to participate in block verification, which is not an easy task if Ether is worth more than 1500 euros. Therefore, to enter the system, it will be necessary to allocate about 50,000 euros, which is a de facto significant amount that limits access to this strategic role.

Energy consumption reduced by 99%

Thanks to the new approach, Ethereum will become a much less energy-intensive blockchain, as it will consume 99% less energy. “This figure put forward by the community is probably pretty close to reality given that miners will disappear from this protocol. Ethereum will still need some power to run, but validators will only need a “rudimentary computer.” A Raspberry Pi with 2TB of storage can help, which is like running a small home server,” Gregory Raymond, co-founder and editor-in-chief of The Big Whale, a Web3 media outlet, told us a few days ago.

In addition to its innovative model of limiting the pollution caused by its activities, an argument often put forward to criticize the cryptosphere, Ethereum will be able to change the dimension after the merger. Not only did the operation go without major issues, it will also expand the possibilities offered by this blockchain. Thus, Ethereum has a good chance of positioning itself as the main cornerstone of Web3, heralded as the next major mutation of the Internet.

After The Merge, Get Ready For The Surge

Should this be a major turning point for the crypto ecosystem, the merger operation is just one step among the changes expected in this sector. After that, a second operation called The Surge should take place. This should allow you to divide the network into several segments that will work independently of each other.

Thus, transactions can be processed faster. Vitalik Buterin said he wants to increase the speed from 15,000 to 100,000 transactions per second. An impressive rise in power that should allow Ethereum, which does not have a maximum cap unlike Bitcoin (21 million in the long run), to further shake the world’s leading cryptocurrency. More moves should follow in the next few years, but the inventor of Ethereum still keeps his long-term ambitions under wraps.

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker.