Stay Ahead of the Merge: How NFT Projects Are Preparing For Ethereum’s Network Shift

Stay Ahead of the Merge: How NFT Projects Are Preparing For Ethereum’s Network Shift


One of the most significant events in the history of cryptocurrency is finally expected to happen this week. Ethereum’s major software upgrade, called The Merge, will fully transition the blockchain platform from its current proof-of-work consensus mechanism to the proof-of-stake model. Ethereum is expected to continue on as normal, only now it will be verified using PoS instead of PoW for authenticating crypto transactions.

According to Ethereum.org, “The Merge represents the joining of the existing execution layer of Ethereum (the Mainnet) with its new proof-of-stake consensus layer, the Beacon Chain. It eliminates the need for energy-intensive mining and instead secures the network using stakes ETH.”

The Merge aims to address three main areas of concern: sustainability, scalability and security. The new system not only sets

Trending: Chicago Criminal Attempts to Rob Florida Gas Station, Instantly Regrets His Decision

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend