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At the moment, Merger interested in many people. Basically, 2022 is the year in which Proof of Work (PoW) Ethereum ends, but Ethereum 2.0 appears with Proof of Stake (PoS).
The miners have long been waiting for this new version. So, fusion (la fusion in French) this update very important for Ethereum, which reduces the cost of transaction fees and makes this cryptocurrency more environmentally friendly. Here’s everything you need to know about it!
Fusion, what is it?
computer field it develops, the world of cryptocurrencies is one of them. The current version of Ethereum, i.e. the Ethereum blockchain that uses Proof-of-Work, presents many problems in terms of resource consumption and network scalability.
Indeed, after 6 years of use, For example, miners could see significant increases in transaction fees. Therefore, creating a version that offers to reduce these transaction fees for everyone is necessary for the health of the Ethereum blockchain.
Transfer event Proof-of-Work for Proof-of-Stake defines a union. This initiative will help reduce energy consumption. Furthermore, thanks to this update, the security of the Ethereum network has been strengthened.
The role of the headlight chain
What headlight chain plays a key role for the new version of Ethereum. Essentially, it serves as a test and design for the new version of Ethereum. With The Merge, this will change.
The Ethereum 1.0 network running on PoW and the Beacon network running on PoS will be merged. Then PoW is completely replaced. Obviously it will be many impacts on the blockchain. However, not all stories are lost and funds are becoming safer. The chain of beacons will then be responsible for validating new blocks and securing the network through validation with ETH.
Initially, there was no specific date for The Merge. The developers have always said that a new version is coming soon. However, after July 15th, the exact date was leaked. In fact, one of the team members had a roadmap date on the calendar. So it’s technical September 19, 2022 that the merger will take place. As with everything, unexpected events and complications can occur that can cause a slight delay.
Once the update is complete, you no longer have to worry as no parameters change during or after the transaction. Proof of Work only changes to Proof of Stake. there are users access to funds and there will be no downtime for him.
What will happen to Ethereum after the merger?
Vitalik Buterin, one of the co-founders of the project, promises that transactions with the new version of Ethereum will be more numerous and faster. He confirmed that she was coming to finish the treatment. 100,000 t / s. Furthermore, The Merge is just the beginning of a long line of protocols. There will be 5 development stages in total.
First of all, The Merge is an event that everyone is waiting for. It is a transition from proof of work to proof of pole by joining the chain of headlights. Then, there is Wave, This is the step where the ledger is split. Then there will be scaling, which breaks the networks into parts called “fragments”. This is necessary to equalize the distribution of calculations in the main network and thus reduce the load on the server.
Then it will come edge This includes updating Merkle evidence with Merkle trees, as well as optimizing data storage on Ethereum nodes. It will come later Cleaning The idea is to save data for validators while reducing the disk space required to avoid network congestion.
End, Devastation it will be the fifth major step or the last planned development protocol, which aims to provide a series of updates to further facilitate transactions and data flow on the blockchain, while simplifying existing protocols.
Some fake merger rumors
There are many misconceptions about merging. Many people don’t conduct extensive research and are content with rumors. However, this unfounded rumors it can be very confusing. So here are some of those false rumors.
One of the most common mistakes is that it takes 32 ETH to run a node. There are actually two types of knots in ETH. The former offers blocks, the latter does not. While these nodes cannot offer locks, actions need it.
The speed of transactions will be increased. Changes are made during the merge, but The transaction speed remains according to the current state, as before.
The network will be suspended during the merger: this completely wrong. A network outage can have several negative consequences. So there will be no entertainment. Finally, any ETH present during staking is withdrawn – although it is present for security reasons, it is only a small amount.
Finally, it is necessary to pay attention to the information that is distributed for the benefit of the project, as well as to prepare for the arrival of the Confluence, which, although technically demanding, Bringing positive to the Ethereum blockchain. Some cryptocurrencies such as Ethereum Classic (ETH) will also indirectly benefit from this future update.