The most awaited software upgrade of the Ethereum blockchain i.e ” The Merge is most likely to take place within 16 hours as per google countdown.
Ether is the world’s second most valuable digital asset run by a crypto network.
Fundamental of Ethereum:
Ethereum is a decentralized global software platform powered by blockchain technology.
Let’s know from the beginning——-
the centralized system, In a centralized system, you have a central authority making decisions here you will have to depend upon a centralized agency whereas in a decentralized system everybody has control and you could depend on your peers to expedite transactions.
What is proof-of-stake (PoS)?
Proof-of-stake is a type of consensus mechanism used by blockchains to achieve distributed consensus. In proof-of-work, miners prove they have capital at risk by expending energy. In proof-of-stake, validators explicitly stake capital in the form of ether into a smart contract on Ethereum
What is Ethereum Merge:
The Ethereum Merge is a network update to transition Ethereum from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus mechanism. There is an expected 99% reduction in energy costs associated with processing Ethereum transactions.
Cryptocurrency market watchers are eagerly waiting for the Ethereum merge to happen in no time.
https://www.youtube.com/watch?v=jK8yK8ZKI3Q
