For a while, the media have been regularly talking about a major update to the Ethereum network, called “The Merge”. This update is important for the development of this network, because it will move ETH from the consensus mechanism called proof-of-work to the proof-of-stake mechanism.
As a reminder, the fact of using proof of work to validate transactions is regularly pointed out, because this mechanism requires the use of significant computing power by miners to solve mathematical problems, which is very energy-intensive. .
Proof of Stake works differently. As we explained in our crypto FAQ: “Proof of stake is a consensus mechanism in which users lock in the cryptocurrency they own. The computer protocol randomly grants the right to validate a block to one of them. In this system, the probability of being chosen to validate the block is equal to the amount of cryptocurrencies locked. The greater the amount of cryptocurrency locked, the more likely the user is to be chosen to validate the transaction. »
According to the Ethereum Foundation, once this Merge is completed, the energy consumption associated with blockchain and crypro will be reduced by 99.95%.
But as Vitalik Buterin, the co-founder of Ethereum, recently pointed out, the Merge is only one step in a long process of improving the network. As the Decrypt media reports, after the “Merge”, which could take place in September, other stages are already planned: the surge, the verge, the purge and the splurge.
Ethereum Merge is just the first step
Speaking at the Ethereum Community Conference in France, Buterin explained that after the Merge, Ethereum development would only be 55% complete.
After the finalization of the Merge, or the transition from proof of work to proof of stake, another update is already planned. Vitalik Buterin calls this one “The Surge”, but the foundation’s website talks about “Sharding” instead: “a phased upgrade to improve Ethereum’s scalability and capacity. »
In any case, this update would allow Ethereum to handle more transactions.
“Today, Ethereum can process around 15-20 transactions per second. This Ethereum, including rollups, including sharding […] it will be able to process 100,000 transactions per second”Buterin said.
As for the step called “the verge”, our colleagues from Decrypt explain that this will improve the decentralized aspect of the network. Indeed, the update would allow users to become validators even if they do not own large amounts of ETH.
As for the “purge”, this would consist of lightening the software. ” […] trying to reduce the amount of space you need on your hard drive, trying to simplify the Ethereum protocol over time, and not requiring nodes to store history”explained Buterin.
Source: Presse-Citron
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