Ethereum Merge and Beyond: Key Upgrades That Shaped the Network
After the inception of Bitcoin in 2009, the crypto environment had another remarkable member – Ethereum. Conceived by Vitalik Buterin in 2013, the network was officially launched on July 30, 2015. Ethereum enabled developers to build decentralized apps and smart contracts on its network, making it the backbone for DeFi, NFTs, and even Web3.
However, despite its benefits, Ethereum faced setbacks like slow transactions, high fees, and energy concerns, following which it underwent a major transformation called The Merge.
Table of contents
The Significance of The Merge
The Merge was a planned technical upgrade to switch Ethereum’s consensus mechanism from Proof of Work (PoW) to Proof of Stake (PoS), marking a pivotal event in Ethereum’s history. In its earlier PoW consensus, it worked in the same mechanism as that of Bitcoin, wherein miners solved complex mathematical puz…
The post Ethereum Merge and Beyond: Key Upgrades That Shaped the Network appeared first on Coin Edition.
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Ethereum Merge and Beyond: Key Upgrades That Shaped the Network
After the inception of Bitcoin in 2009, the crypto environment had another remarkable member – Ethereum. Conceived by Vitalik Buterin in 2013, the network was officially launched on July 30, 2015. Ethereum enabled developers to build decentralized apps and smart contracts on its network, making it the backbone for DeFi, NFTs, and even Web3.
However, despite its benefits, Ethereum faced setbacks like slow transactions, high fees, and energy concerns, following which it underwent a major transformation called The Merge.
Table of contents
The Significance of The Merge
The Merge was a planned technical upgrade to switch Ethereum’s consensus mechanism from Proof of Work (PoW) to Proof of Stake (PoS), marking a pivotal event in Ethereum’s history. In its earlier PoW consensus, it worked in the same mechanism as that of Bitcoin, wherein miners solved complex mathematical puz…
The post Ethereum Merge and Beyond: Key Upgrades That Shaped the Network appeared first on Coin Edition.
Read More
Bitcoin ETFs Recover With $20 Million Inflow as Ether Slumps