Ethereum is a smart contract platform that enables developers to build tokens and decentralized applications (dapps). ETH is the native currency for the Ethereum platform and also works as the transaction fees to miners on the Ethereum network. Ethereum is the pioneer for blockchain based smart contracts.
NEAR is a sharded, developer-friendly, proof-of-stake public blockchain, built by a world-class team that has built some of the world's only sharded databases at scale.
The update on Ropsten, the test network, is the step prior to The Merge on the main Ethereum network and will allow any potential glitches or bugs to be evaluated before the big transition.
Ethereum a decentralized open-source blockchain with smart contracts functionality. (ETH) is preparing to reach an important milestone on its path towards transitioning to a Proof of Stake (PoS) mechanism.
La public testnet an alternative blockchain used by developers for testing. (testnet) of Ethereum , Ropsten will undergo the long-awaited update on June 8. The Merge. The move will be the step prior to the upgrade on the mainnet of Ethereum which will see the blockchain abandon its current proof-of-work poW is a type of consensus algorithm that rewards validators according to the amount of computational power they have expended. (PoW) consensus consensus is achieved when all participants of the network agree on the order and content of the blocks in the blockchain. mechanism for a PoS one.
Developer activity on the GitHub gitHub is one of the most popular code hosting platforms, allowing developers to collaborate on various projects. repository showed that testing is about to begin. Specifically, the engineer of Ethereum DevOps , Parathi Jayanathi, sent a pull request for the configuration of Merge of the network Ropsten on Monday, suggesting that the update is on its way, as picked up by Cointelegraph .
Some of the project’s developers shared their optimism about the news of the arrival of Merge a testnet. Among them, Preston Van Loon, a senior developer at Ethereum en Prysmatic Labs he said in a tweet:
The Ropsten test network a network refers to all nodes in the operation of a blockchain at any given moment in time. will be merged on June 8th! The Ropsten merge is a big test milestone towards The Merge on the Ethereum mainnet an independent blockchain running its own network with its own technology and protocol. later this year.
Ropsten testnet is getting merged on June 8!
Merging Ropsten is a huge testing milestone towards Ethereum’s mainnet merge later this year. ???? https://t.co/X7eLIMA72g
– prestonvanloon.eth @ Permissionless often used to describe blockchains, a system is said to be permissionless when there is no entity that can regulate who can use it and how it can be used. (@preston_vanloon) May 18, 2022
Más cerca de ‘The Merge’
During the last few years, Ethereum has been working on a multi-stage update to change change — a concept relevant to cryptocurrencies that use the UTXO model — is the number of coins sent back to a user after they use their unspent outputs to initiate a transaction. PoW to PoS. Previously called “ Ethereum 2.0 “This long-term change has been touted as the most important of the project to date.
One of the expectations is that the transition, called the‘The Merge(Fusion), allay concerns about energy consumption. Under the new model, transactions will be validated by nodes run by “ participants “, o stakers instead of “ miners contributors to a blockchain taking part in the process of mining. They can be professional miners or organizations with large-scale operations, or hobbyists who set up mining rigs at home or in the office. “This is expected to reduce the energy required to process transactions and issue new coins by 99%.
But changing the consensus mechanism of a blockchain is no easy task, and it requires multiple experiments on test networks like Ropsten before its implementation in the main network.
Created by the Ethereum Foundation in 2017, as noted by Cointelegraph, Ropsten is one of the test strings and is considered to be the best replica of Ethereum mainnet, as it follows a similar network structure. Next month’s update will offer a real-world simulation of what will happen once the main blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. of Ethereum if fusion.
Pero Ropsten is not the only testnet that will test the transition before the final major update. Another lead developer of Ethereum who identifies himself under the pseudonym trent_vanepps on Twitter, said last week, ahead of the confirmation in cryptocurrency, a confirmation is a measure of how many blocks have actually passed since a transaction was added to a blockchain. of the schedule for Ropsten, that the test nets Sepolia y Georli could also be configured to testThe Merge.
The road to PoS
Another indicator that the project is preparing for the transition is the most recent efforts of the Ethereum Foundation to increase rewards for errors.
The developers announced earlier this week the increased rewards for errors hasta USD $ 500.000 . The sum, which is awarded in Ether the form of payment used in the operation of the distribution application platform, Ethereum. or DAI, aims to motivate developers to scan both test and master networks for bugs or vulnerabilities. If they discover any flaws, they can receive the reward.
The date of the arrival ofThe Merge a la testnet Ropsten matches the previous timeline given by the developer Tim Beiko, who stated last month that the update would not be ready hasta “ a few months after June “ . It is expected that the deployment of this transition on the core network of Ethereum will occur in the last quarter of 2022.
The news did not seem to generate a positive impact on the price of ETH which is plunged in the midst of a general bearish outlook in the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. market. According to data from CryptoMarkets the second leading cryptocurrency is trading just below USD $2,000, a retreat of just over 25% in the last two weeks.
- Everything you need to know about Ethereum Merge and its transition to Proof of Stake
- Ethereum 2.0 contract in traditional finance, a contract is a binding agreement between two parties. In cryptocurrencies, smart contracts execute functions on the blockchain. reaches 10 million ETH as tests for ‘The Merge’ launch
- Ethereum launches testnet for The Merge and will test Proof-of-Stake poS is a type of consensus algorithm that rewards validators according to the amount of crypto they have staked. with validators
Article by Hannah Estefania Perez / DiarioBitcoin
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