Only 10 hours to the Ethereum Merge: Here's what you need to know

Only 10 hours to the Ethereum Merge: Here’s what you need to know

Ethereum’s long-awaited transition from proof-of-work (PoW) to proof-of-stake (PoS) is upon us as the Merge looms in less than 10 hours. There’s plenty to consider for the wider cryptocurrency space — and here’s what you need to know.

What is the Merge?

The Ethereum blockchain will transition away from its energy-intensive consensus mechanism PoW as its execution layer merges with the new PoS consensus layer known as the Beacon Chain.

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The Beacon Chain went live in December 2020, allowing ecosystem participants to deposit or “stake” ETH to become the new validators of the network, in doing so replacing PoW miners that had previously put in the work to process transactions, produce blocks and secure the network.

In its simplest form, the Merge will make the Ethereum network use 99%

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