September 15, 2022 made history for crypto enthusiasts when Ethereum (ETH) transitioned from proof-of-work (PoW) to proof-of-stake (PoS), also known as The Merge.
However, what exactly is The Merge or the advantages of the transition to ETH so that it becomes the main highlight of the people of the crypto world?
Follow The Merge recap below so investors don't miss out.
What Is The Merge?
The conversion of the ETH generation system, which is powerful, through PoW to the integration of the PoS system layer known as Beacon Chain.
It will replace the function of miners (miners) in transactions and allow investors to deposit or 'stake' ETH directly.
This means that the ETH network will save energy consumption by 99% and provide better scalability, security and sustainability.
So, ETH mainnet (PoW) and Beacon Chain (PoS) will move simultaneously and finally merge (The Merge).
Who Manages The Merge?
A number of users who stake 32 ETH will be individual validators (validators) of the Ethereum Beacon Chain.
The task of validators is to create blocks and verify block transactions made in the network.
There are also other staking options, including groups or individuals who deposit small amounts, to play a role in the new network mechanism.
Currently there are a total of 426,000 validators and almost 80,000 depositors.
Will There Be An ETH Fork After The Merge?
The ETH token from the Ethereum ecosystem will remain after The Merge and the new PoS-powered blockchain will also use ETH.
This suggests the Ethereum PoW network (ETHPOW) may stop the fork of ETHW token creation.
What Should Investors Do After The Merge?
Users and holders of ETH do not need to worry because The Merge will not cause any changes to the wallet.
All funds in the wallet are still accessible and safe in blockchain history.
