Cryptocurrency platform Ethereum has completed a long-awaited software upgrade.
The upgrade – known as the Merge – has shifted the crypto platform into a more environmentally sustainable framework by reducing Ethereum’s energy consumption. It will also set the stage for future improvements that will make the platform easier and cheaper to use.
Déi technesch Detailer vun der Fusioun sinn extrem komplex, awer am Fong geet de Prozess op eng Verréckelung erof wéi d'Krypto-Währung Transaktioune verifizéiert ginn.
After completing the Merge, Ethereum has now shifted from a verification system called proof of work (PoW) to “proof-of-stake” (PoS) – which consumes less energy and does not involve an energy-guzzling computational race, unlike its previous system. PoS also deposits or “stakes” a certain amount of participants’ crypto savings in a pool, which additionally enters them into a lottery. The new system also has a reward system; every time a crypto transaction requires approval, a winner is selected to verify the exchange and receive a reward.
Popular estimates show that Ethereum’s Verréckelung ze maachen Beweis vun de Staang will reduce its energy consumption by more than 99%.
D'Entwéckler, déi an der Fusioun involvéiert sinn, hunn gesot datt de Schalter vu PoW op PoS et méi einfach a méi frëndlech mécht fir zukünfteg Updates ze designen, déi d'Gasfraise reduzéieren - d'Käschte fir eng Transaktioun an der Krypto-Währung auszeféieren, déi mat der Ethereum Plattform, Ether, assoziéiert.
Ethereum is potentially the most important platform in the crypto industry. The platform’s layer of software infrastructure forms the basis of thousands of applications handling more than $50 billion in customer funds.
So far, the successful upgrade of Ethereum has become the major positive highlight of the crypto industry this year after witnessing a devastating market crash that drained nearly $1 trillion from the industry. Many prominent crypto companies were forced into bankruptcy due to the crash.
The upgrade was being looked at with a close eye as any glitches could complicate the transition. A single flaw in the Merge could have potentially disrupted the broader crypto industry, especially companies using the crypto platform’s software infrastructure. the worst-case scenario could have upended start-ups and sent the market into another major tailspin.
For precautionary measure, cryptocurrency exchange Coinbase paused certain Ethereum deposits and withdrawals during the Merge.
“And we finalized! Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today,” Ethereum founder Vitalik Buterin tweeted.
D'Réalisatioun vun der Fusioun ass no Joere vun intensiver Studie an Debatt komm. Gegrënnt am Joer 2013 vum Vitalik Buterin, gëtt Ethereum elo vun engem lockeren Netz vu Coderen aus der ganzer Welt geleet, déi Méint verbruecht hunn op Video-Uriff gestreamt op YouTube ze versammelen fir d'Intricacies vun der Fusioun ze diskutéieren.
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Source: https://blockchain.news/news/the-merge-is-complete-ethereum