Ethereum Merge, which has the eyes of the crypto world on its ears, has been successful. Ethereum’s Merge is just one of the steps in the Ethereum network’s transition to Proof of Stake. According to the announcement, the first step of the transition planned in 5 steps has been completed as of now.
Merge, the most important and big step that will move Ethereum from the Proof of Work consensus to Proof of Stake, has been successfully accomplished.
Ethereum Merge Completed
Developed by founder Vitalik Buterin as a more programmable version of Bitcoin, Ethereum is today seen as the second most valuable blockchain in the cryptocurrency world. In this context, the process of this historical event that took place in Ethereum was carefully followed by blockchain circles.
Described as the most important event in recent history in the world of cryptocurrencies, Merge successfully completed as of today. With this network transition, Ethereum became the first blockchain to change the working principle of the network.
When Merge is completedEthereum performed the network transition on its Mainnet. The process of merging the Mainnet with the Beacon Chain currently on Ethereum was called “Merge”. The merger of these two networks is now complete and the Ethereum Blockchain bids farewell to the Proof of Work consensus.
Users did not need to do anything while the merge was taking place. In response to this, many major cryptocurrency exchanges such as Binance and Paribu have announced that they will suspend deposits and withdrawals to ensure that Ethereum’s network transition is successfully completed.
Merge Complete, So What Now?
The first step in the transition of Merge Ethereum Blockchain to PoS. Although the need for hash power for mining in Ethereum is now gone, a meticulous study is already being carried out about the past blocks. After this upgrade, we have 4 main steps ahead. These steps are called Surge, Verge, Purge, and finally Splurge, respectively.
As the names suggest, there is a step-by-step roadmap on the Ethereum network. If all these steps are completed successfully, Ethereum will be a fully PoS network.
