top-crypto-news.org
No Result
View All Result
  • Home
  • Bitcoin
  • NFT
  • DeFi
Bitcoin ticker
Bitcoin
$30374
BTC
Ethereum ticker
Ethereum
$2083.83
ETH
BNB ticker
BNB
$306.75
BNB
Cardano ticker
Cardano
$0.582126
ADA
Solana ticker
Solana
$55.71
SOL
Ethereum ticker
Ethereum
$2083.83
ETH
60.
  • Home
  • Bitcoin
  • NFT
  • DeFi
No Result
View All Result
top-crypto-news.org
No Result
View All Result
top-crypto-news Ethereum

The Merge: Ethereum to PoS switch will come in the &#8220months after” June

Alex Coin
April 15, 2022
Reading Time: 4 mins read
0
ethereum-unsplash
What is Ethereum?

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.

Good news for Ethereum miners, as PoW still has a few more months to go. Developer Tim Beiko shared a tentative timeline.

RELATED POSTS

Ethereum’s Vitalik Buterin backs TerraUSD’s proposed refund plan

Nubank, Brazil’s largest digital neobank, will allow Bitcoin and Ethereum trading

3 Bitcoin and Ethereum ETFs started in Australia today amid crypto price slump

***

‘The Merge‘, the long-awaited update of Ethereum a decentralized open-source blockchain with smart contracts functionality. which will 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. its consensus consensus is achieved when all participants of the network agree on the order and content of the blocks in the blockchain. mechanism to one of participatory testing (PoS), has been delayed until the third quarter of the year.

The lead developer of Ethereum Tim Beiko, confirmed in a tweet on Tuesday that the update, which was expected to happen in June this year, will arrive later than anticipated. While there is no clear release schedule yet, Beiko said that the PoS merger is in its final stages and will most likely take place shortly after June.

It won’t be June, but probably in the months after that. No firm date yet, but we are definitely in the final chapter of PoW on Ethereum.

It won’t be June, but likely in the few months after. No firm date yet, but we’re definitely in the final chapter of PoW on Ethereum

– Tim Beiko | timbeiko.eth ???????? (@TimBeiko) April 12, 2022

During the last few years, Ethereum has been working on a multi-stage upgrade to 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 mechanism in favor of adopting PoS. Formerly called “ Ethereum 2.0 “This long-term change has been touted as the most important of the project to date.

One expectation is that the transition, a stage 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%.

El asunto sobre el gasto energético y el impacto medioambiental de las criptomonedas basadas en PoW ha sido un elemento de central de discusión en los últimos tiempos; especialmente para Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. which has been the focus of criticism.

  • Everything you need to know about Ethereum Merge and its transition to Proof of Stake

Expectations for the transition from Ethereum

The march of Ethereum towards PoS has not been quick, and the developers have more than two years working on the change. Previously, in March, the CEO of ConsenSys consenSys is a blockchain technology company that offers developer tools alongside enterprise solutions. y co-founder of Ethereum Joe Lubin, had anticipated in conversations with Decrypt that the update would arrive ” in the second trimester or possibly […] in the third trimester “of this year.

“ The Merge will put an end to proof of work, will put an end to Ethereum’s carbon or energy footprint problem, all of that will go away. “Lubin had commented at an event last year.

The latest delay in these plans means that ETH mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. activity still has a little more time before it becomes completely obsolete, a topic that Beiko recently mentioned on her Twitter, when she recommended “ strongly “no longer invest investing is when you put money in a financial scheme with the intent of making a gain. in mining equipment at this point.

La noticia sobre el cronograma para la actualización de Ethereum comes just days after a milestone for the network a network refers to all nodes in the operation of a blockchain at any given moment in time. on its route to PoS. As reported by DiarioBitcoin the mainnet an independent blockchain running its own network with its own technology and protocol. (main network) of Ethereum activated its first fork in the shade ( shadow-fork) on Monday, allowing PoS mechanisms to be stress-tested for the first time on the PoS mainnet. Ethereum .

In the meantime, expectations for the update seem to be rising. At the beginning of the month, searches for “Ethereum Merge” at Google reached an all-time high, according to data from Google Trends . The amount of ETH deposited as collateral collateral is any asset that a lender accepts as a form of security to ensure that the borrower repays a loan. in the PoS smart contract in traditional finance, a contract is a binding agreement between two parties. In cryptocurrencies, smart contracts execute functions on the blockchain. has also increased at a rapid pace, recently surpassing 11 million ETH .

It is worth noting that Ethereum is currently the backbone of hundreds of projects blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. : tokens decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. finance (DeFi), metaverses, tokens non fungibles (NFT), gaming and more. Meanwhile, its native cryptocurrency, ETH, is the second largest by market an area or arena, online or offline, in which commercial dealings are conducted. capitalization ($373 billion). As of press time, its price is around $3,100.


  • Ethereum in numbers: more than 2 million ETH burned after implementation of EIP-1559
  • Ethereum developers successfully achieved ETH2 “Merge” test on Kiln testnet an alternative blockchain used by developers for testing.
  • Ethereum 2.0 contract reaches 10 million ETH as tests for ‘The Merge’ launch

Article by Hannah Estefania Perez / DiarioBitcoin

Imagen de Unsplash

ShareTweetPin

Alex Coin

Cryptoinvestor. I follow the world of cryptocurrencies. Looking for the most relevant and significant news for you :)

Related Posts

dollar
Earth

Ethereum’s Vitalik Buterin backs TerraUSD’s proposed refund plan

May 17, 2022
criptomonedas bitcoin ether
Banking and Payments

Nubank, Brazil’s largest digital neobank, will allow Bitcoin and Ethereum trading

May 13, 2022
australia
Bitcoin

3 Bitcoin and Ethereum ETFs started in Australia today amid crypto price slump

May 12, 2022
robinhood-unsplash-canva
Bitcoin

Robinhood adds Bitcoin and Ether funds from Grayscale

May 7, 2022
Vitalik Buterin, ilustracion para DiarioBitcoin por NicoleLeon.Design
Ethereum

Vitalik Buterin: Ethereum Layer 2 fees must be less than USD $0.05 to be “acceptable”

May 5, 2022
criptomonedas bitcoin ether
Bitcoin

Precio de Bitcoin y Ethereum aumenta notablemente tras anuncios de la FED sobre nuevo aumento en las tasas de interés

May 5, 2022
Next Post
real-brasil-unsplash

Brazil to start testing a CBDC by the second half of 2022

Bitcoin stays around USD $40,000 and major altcoins go down on April 13

Bitcoin news

caso-unsplash-min

Craig Wright emerges “victorious” in Kleiman case, must pay $100 million; but questions remain

December 7, 2021
bitcoin oro

El Salvador’s President answers Peter Schiff on what would happen if he had exchanged gold reserves for Bitcoin

December 6, 2021
hate-bitcoin-unsplash-canva

Billionaire Charlie Munger goes against Bitcoin again: “I wish it had never been invented”

December 3, 2021
top-crypto-news.org

Recent Posts

  • Spotify tests NFTs and Morgan Stanley suggests sector could be next to fall after UST
  • Investor who lost $2 million in Terra broke into Do Kwon founder’s home
  • NASDAQ announces partnership with XP to launch new Bitcoin exchange in Brazil

© 2021 top-crypto-news.org

No Result
View All Result
  • Home

© 2021 top-crypto-news.org