TECH
The so-called “merger” of Ethereum took place - the biggest update to Merge was released, which moved ETH to an environmentally friendly Proof-of-Stake model (previously the Proof-of-Work model was used).
The “merger” has been in the works for six years and is considered by many to be a major milestone in the history of cryptocurrencies due to the potential material and ideological implications. This key frontier could also boost investor confidence and give the market much-needed optimism after months of inflation-driven volatility and rising interest rates. The “merger” is to prove that a decentralized, public network can operate as energy-efficiently as possible. Such an event in the cryptocurrency world is incredibly rare.
The reduced environmental footprint must be significant as the new Proof-of-Stake model, in which validators stake (or hold) coins and are rewarded for processing transactions, is expected to consume 99.95% less energy than the model current. for the Ethereum Foundation.
Ethereum's transition to Proof-of-Stake does not involve using GPUs for mining, which observers expect will lead to further price reductions for GPUs.
This is the first in a series of major updates to Ethereum. Future steps will help scale the network to process significantly more transactions at a lower cost and reduce overall storage. The “merge” was originally called Ethereum 2.0, but that name was dropped in favor of other names for each stage: merge, surge, verge, purge, and splurge.
At the time of publication of the note, the price of ether has not changed much and is around US$ 1,600.
mundophone
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