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KrisVirgo HF-06 |HFOffline

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    KrisVirgo HF-06 |HF

    2 weeks, 6 days ago

    How The Merge Works

    The current Ethereum network is called Mainnet and differs from the various testnet networks used by developers. In December 2020, Ethereum developers came up with a new blockchain known as the Beacon Chain, basically the new Ethereum. It’s a PoS network that has been operating in isolation for almost two years now. The ETH2 deposit address allows users to stake their ETH tokens. The ETH2 deposit address allows users to stake their ETH tokens. It has been experiencing constant growth since its inception in January 2021.

    ETH in the ETH2 deposit contract the blockSource: The Block

    Validators have been integrating blocks into the network, but these blocks lack data. In other words, the chain has undergone rigorous tests ahead of the event. The Merge will see the data stored in the Ethereum Mainnet moved to the Beacon Chain, making it the primary Ethereum blockchain.

    Evaluations drawn from the current Beacon Chain indicate that The Merge to PoS could result in a 99.95% reduction in total energy consumption. Ethereum’s power consumption will almost equal the cost of operating a laptop for every network node. Most studies use “per-transaction” power cost when comparing blockchains with other sectors. The advantage of this method is that it’s easy to comprehend, but the number of transactions in a block determines the energy needed to verify it.

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