The Ethereum blockchain will conduct the merger, in which the current Ethereum core network will be integrated with the Proof-of-Stake Beacon Chain.
Merge Ethereum is the first-ever precedent for the current blockchain to switch from the PoW (Proof-of-Work, mining) algorithm to PoS (Proof-of-Stake, stacking).
Whereas prior to the merge, the matching of new blocks was provided by miners, after the merge, this process will be handled by validators - Ethereum holders.
However, Ethereum Classic has no plans to switch to the Proof-of-Stake system.
After Merge, some global problems will be solved:
The scalability problem. Thanks to PoS, participation in the network will become more affordable. The amount threshold for stacking is 32 ETH. Network congestion will be reduced, blockchain throughput will increase, resulting in lower transaction fees; The power consumption of the mining equipment will be significantly reduced; Providing a higher level of security for less money.
🗓 The approximate date for Merge Ethereum is September 15, 2022.
