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Brooke Hopkins

30 September 2022 280 Read Crypto


What is Ethereum Merge?

The Ethereum Merge is a multi-stage upgrade to the Ethereum blockchain and proof-of-stake network. This upgrade is expected to improve the network's scalability and may lead to lower on-chain fees. However, it is unclear exactly how it will impact fees. The Merge upgrade also lays the foundation for an innovation known as "sharding," which could dramatically increase the network's throughput. In addition, it penalizes bad actors on the network by reducing their staked ETH holdings, creating a new deterrent to attacks on the Ethereum network.

Ethereum Merge

The Ethereum Merge is expected to reduce carbon footprint by over 99%. However, it is unclear if this merger will also improve security. As it currently stands, the blockchain remains vulnerable to hackers. The Ethereum network currently relies on proof of work, which burns tons of energy. The Ethereum Merge is expected to have minimal impact on network capacity.

It's a major upgrade of the ethereum blockchain

Ethereum Merge is an upgrade to the Ethereum blockchain that ditches the old proof-of-work system. The proof-of-work system required people to run huge, expensive computers that would solve complex mathematical puzzles to earn coins. Ethereum Merge will eliminate that requirement and make the network more energy-efficient. However, it will also eliminate a substantial amount of money that's currently spent on operating the blockchain.

It's a proof-of-stake network upgrade

The Ethereum Merge is an upgrade to the Ethereum network that will remove its dependence on cryptocurrency mining. Crypto investors, enthusiasts, and skeptics are closely watching this upgrade. Some, like billionaire Mark Cuban, have expressed concerns that Merge could deflationize ETH. The original protocol called for switching to proof-of-stake, but the transition proved to be a complex technical task. Many questioned whether the Ethereum network would ever make the switch.

It's a multi-stage process

The Ethereum Merge is a multi-stage effort to merge two cryptocurrency platforms. It's a complex process and it's hard to predict when it will happen. However, developers have given a September 15 target date for the Merge and say it's likely to happen that month. The timing is still subject to change and developers have noted that it could be delayed further.

It could push crypto further into the mainstream

A proposed Ethereum Merge could take the crypto network even further into the mainstream. The proof of stake merge would make the blockchain more attractive for traditional investors. With ETH already representing nearly half of the crypto market cap, the switch to a proof of stake model would be a big step for the coin.