A merge like this is a sporadic event in crypto history and may never happen again.
After months of waiting and tension, The Merge — the Ethereum blockchain’s much-anticipated migration to a proof-of-stake (PoS) consensus mechanism — has happened.
In his reaction following The Merge, Buterin tweeted:
“And we finalized! Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.”
What is The Merge?
The Merge upgrade is Ethereum’s long-awaited migration from its current “Proof-of-Work” consensus mechanism to a “Proof-of-Stake” system.
Why is The Merge necessary?
Ethereum’s Merge will prove that a decentralized and permissionless network can operate energy-efficiently. We hope this is for good.
What happens immediately after The Merge?
Once complete, the already-running Beacon Chain will take over the process of validating new transactions through Proof-of-Stake, and Ethereum’s legacy Proof-of-Work model will be shelved permanently. But we would stay alert because of possible scam attacks many analysts were talking about.
How will The Merge impact me and my ETH?
The answer is not much. This won’t influence our upcoming coin and staking.
So what now?
The merge is being heralded as one of the most impressive feats of engineering the world has ever seen.