Ethereum: the Merge

8/9/2022
ethereum blockchain the merge crypto

 

 

On September 15, 2022, one of the most anticipated events in the crypto universe takes place: the Merge. A major event since it is on this occasion that the Ethereum blockchain will operate its change of mode. 

 

The Ethereum blockchain revolution

As a reminder Ethereum is the technology used by the community that manages the cryptocurrency ether (ETH) as well as thousands of decentralized applications. Co-founded by Vitalik Buterin in 2015, it's about to make a 180-degree turn.

 

But then what is this change and what is its purpose?

 

Concretely, Ethereum needs to move from "Proof of work"which is having thousands of computers working on the same thing at the same time, to "Proof of Stake", which is making a change to the foundation of the blockchain. 

 

eth crypto the merge.png

 

The idea? That would-be miners place their ethers in a common pot and rely on a random draw to validate transactions. A way to continue to guarantee security while reducing a very significant consumption of electricity. 

 

Ethereum: moving towards carbon neutrality

Because the ultimate goal of this transition is carbon neutrality. With this change, Ethereum should consume more than 99% less energy!"

 

Developers have been testing for 7 years to anticipate this transition. On August 10, Ethereum's testnet successfully completed a repeat of The Merge.  
 

If Ethereum successfully transitions, it will ensure that it has many more years ahead of it. With a Merge, we could see a rise in value of the crypto that could go up to X10 in the next few years according to experts.


 

In the meantime, discover Versity, the metavers  of the future, in which you'll be able to  buy real estate and visit it, attend festivals, participate in sporting events, move, invest, renovate your home... 

Find all the info at Versity


 

 

Share this post