The countdown for the Ethereum Merge has begun! After about seven years, the process that will get Ethereum to Proof-of-Stake (PoS) is ready and expected for the 14th of September.
This is the most significant upgrade in the history of Ethereum and the most critical day in cryptocurrency history. Thanks to this upgrade, Ethereum will be more scalable — only thanks to the later sharding — and energy-efficient.
A new era has come: Ethereum 2.0 is finally ready!
What does the Merge mean? And what are the motivations behind it?
The term Merge was already the milestone in this blockchain’s roadmap before the launch.
Its main goal is the transition of Ethereum from a proof-of-work consensus mechanism, also known as mining, to a proof-of-stake model where there are no miners and a group of validators, staking their ETH, will validate the network.
The roadmap to The Merge consists of two steps:
- The first is characterized by the launch of the Beacon Chain (an infrastructure created for this purpose on December 1st 2020), which allows them to test it without impacting the existing PoW network for around 1.5 years. At the same time, it has also permitted to reach the right amount of staked ETH to secure the network at the merge. Read more…
