Ethereum V2, Are you ready for the merge?

According to developer activity, Ethereum has the top crypto app ecosystem and is the second-largest cryptocurrency network overall.

Ethereum envisions to be a mainstream technology to serve all of humanity by providing solutions for building apps and organizations, holding assets, transacting and communicating without being controlled by a central authority.

Ethereum has a native cryptocurrency called ether (ETH). It is purely digital and is not controlled by any authorities. It only exists because of the community’s decentralized engagement and cooperation through DAO (Decentralized Autonomous Organization).

What’s the merge all about?

The network, often known as ETH, is poised to go through a huge change. Exchanges, programmers, journalists, traders, and investors are all closely following the discussion of an impending “ETH merge” that might make Ethereum 99% more sustainable but also reduce the quantity of Ether by 95%.

Currently, Ethereum operates on a Proof of Work(PoW) paradigm much like Bitcoin, where users must solve a problem to receive a reward.

Following the merger, Ethereum will switch to a Proof of Stake (PoS) architecture in which users who stake ETH will receive rewards at random.

How the ethereum merge is happening ?

Paris and Bellatrix will be the first two stages of The Merge.

A consensus layer improvement called Bellatrix makes the Beacon Chain “Merge aware.” Around September 6, 2022(UTC) the Beacon Chain will reach an epoch height of 144,896.

Proof-of-stake (“PoS”) is the execution layer’s switch from proof-of-work (“PoW”). Around September 15, 2022 (UTC), the Ethereum PoW chain’s Terminal Total Difficulty (TTD) value of 58750000000000000000000 will be reached.

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