The Ethereum Merge: The Biggest Upgrade In Ethereum's History Is Here
The Merge is the most significant upgrade in Ethereum's history. It is probably that is everywhere on the internet. So what is this upgrade, when does it take place and how will it affect the future of Ethereum? All the answers will be sourced for in this article. So anyways, what is the Merge? Simply put, it is defined as the transition of Ethereum from proof-of-work mechanism to proof-of-stake mechanism. In other words, it is the bonding of the existing execution layer of Ethereum (the Mainnet) with its new proof-of-stake consensus layer, the Beacon Chain. It eliminates the need for energy-intensive mining and instead secures the network using staked ETH. The Merge is a bold step in fulfilling Ethereum's mission- more scalability, security and sustainability. Initially, the Beacon Chain came separate from the mainnet. Ethereum Mainnet which containes all the accounts, balances, smart contracts, transaction and blockchain state is still g...