How will the Ethereum merge make crypto greener?
The merging of the two layers will result in a single proof-of-stake chain. The transition will have no effect on any Ether cryptocurrency on the network.
Ethereum is gearing up for a major update that has been described as “the single most significant event in crypto history.” The change would completely restructure the world’s second-largest blockchain infrastructure.
By converting from a proof-of-work (PoW) to a proof-of-stake (PoS) scheme, the merging attempts to improve the Ethereum blockchain’s efficiency.
Crypto miners secure PoW, which was pioneered by Bitcoin, by solving complex but useless mathematical riddles — a process that wastes a lot of energy. In the meanwhile, users staking crypto to execute transactions maintain a PoS system.
Both techniques are now in use on Ethereum. The merging of the two layers will result in a single proof-of-stake chain. The transition will have no effect on any Ether cryptocurrency on the network.
Proponents of the PoS model hope that the merger will make Ethereum more scalable, safe, and long-lasting.
The changeover would render the Ethereum blockchain’s miners obsolete and reduce the emissions of the myriad projects that rely on the Ethereum infrastructure, including many NFT platforms.
According to Carl Beekhuizen, an Ethereum Foundation researcher, the move will lower the network’s energy consumption by 99.95%. This may persuade more people to invest in Ethereum.
However, not everyone believes in the advantages. Security issues have been highlighted by critics' reservations regarding the influence on Ethereum’s scalability.
Perhaps the only serious concern is the merger’s endless postponements.
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