The Merge
Only 5 days remains until the official launch of The Merge Ethereum project. Also known as “Fusion”, this project is among the newest and most anticipated projects by cryptocurrency enthusiasts. Through this great change, the blockchain Ethereum is even preparing to innovate the entire internet. The Merge is not limited to launching a major update on the blockchain. It is also a major project that promises to be (almost) 100% green, because it would reduce the energy consumption of the blockchain by 90%.
What is The Merge ?
The Merge is a large-scale upgrade project launched by Ethereum. This update is essentially about moving the blockchain from a Proof of Work (PoW) system to a Proof of Stake (PoS) system. In practice, these two systems have the role of guaranteeing the security of blockchains in their use. However, their mode of operation differs according to their specific characteristics.
The Proof of Work system is based on the work of several miners. These miners put their skills at the service of computers in order to correctly solve the various mathematical equations. With each equation solved, the blockchain creates a block and offers a reward (a token) to the computer user.
The Proof of Stake system is based on the action of several computers (ie several individuals) to solve a problem. At the end of the equation will be entrusted to a single user (on a single computer) who receives a reward (a token) when he has succeeded in creating a block.
So, in fact, the PoW system consists of putting several miners in competition to obtain a reward. On the other hand, The PoS system, offers equal chances to all users.
However, that the new system established on the Ethereum blockchain will only be reserved for users who have a minimum of 32 ETH.
The Merge: what will change on Ethereum?
In response to the many questions around the implementation of The Merge project, Ethereum reassures its users that this change will have no negative impact on its tokens or on the blockchain itself. Ethereum’s native cryptocurrency (Ether) and all blockchain-based tokens will remain as is. In addition, other projects parallel to this update, can also serve as alternatives in case of failure of the process. With Ethereum Classic and Ethereum Killers, the possibilities are endless.
What about the environmental impact of the project?
The criticisms that surround cryptocurrency generally focus on the often too high energy expenditure associated with its exploitation. The Proof of Work operating system is particularly affected by these criticisms. Conversely, the Proof of Stake system will allow Ethereum to reduce its energy consumption by 99% or more. With its new configuration, the blockchain will be the first of its kind to be 100% green.
Will so many promises be enough to convince the most daring to embark on the adventure of crypto currencies?
