The Merge. A long-awaited upgrade to the Ethereum network which is due to drop later this month. If you're not aware of it, here's everything you need to know ⬇️
The Ethereum mainnet will soon shift from a Proof of Work to a Proof of Stake consensus mechanism in an upgrade called The Merge. The Merge is part of a series of major Ethereum ecosystem upgrades, which also include The Surge, The Verge, The Purge, and The Splurge. The goal of these upgrades is to make Ethereum more scalable and energy efficient. The Merge will combine the Ethereum mainnet with the Proof of Stake Beacon Chain and is expected to happen in September 2022.
However, achieving security and scalability can get tricky if blockchains want to preserve their decentralized nature. This problem is explained by the concept of theas proposed by Vitalik Buterin. The Blockchain Trilemma describes the challenge of balancing three important properties – scalability, security, and decentralization.
that is automatically adjusted by the protocol. While Bitcoin’s design is highly secure, the block time combined with the limit of transactions per block can lead to network congestion during times of increased demand. This often causes transaction fees and confirmation times to rise significantly.The Ethereum Upgrades: The Big Picture
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