It’s done! This morning around 8:30 am, Ethereum switched from Proof of Work to Proof of Stake as part of the deal The merger. It was Vitalik Buterin, co-founder of this blockchain, who announced its success on Twitter.
Highly anticipated by the cryptocurrency ecosystem, this step marks a turning point for the sector. And for good reason, it will no longer be the minors who validate transactions, as with bitcoin, but the validators who will be responsible for the proper functioning of the network. The latter will have to escrow 32 ether in order to participate in the validation of the blocks, which is not an easy task with an ether for more than € 1,500. It will therefore be necessary to commit almost € 50,000 to enter the system, a significant figure that effectively limits access to this strategic role.
Energy consumption reduced by 99%
With its new approach, Ethereum will become a much less energy-intensive blockchain, as it will consume 99% less energy. “This community-advanced figure is probably quite close to reality, as miners will disappear from this protocol. Ethereum will still need some power to work, but validators will only need” a rudimentary computer. A Raspberry Pi with 2TB of disk space can do the job, which is like running a small home server “Grégory Raymond, co-founder and editor-in-chief of The great whalespecialized media in the Web3.
In addition to its innovative model to limit the pollution generated by its activities, an argument often advanced to criticize the crypto sphere, Ethereum will be able to change its dimension after The merger. Not only did the operation go smoothly, but it will also increase the possibilities offered by this blockchain. In this way, Ethereum has a great chance of positioning itself as one of Web3’s main cornerstones, heralded as the next great mutation of the Web.
After The mergerget ready for The surge
If it constitutes a major turning point for the crypto ecosystem, the operation The merger it is only one step among the expected changes in the sector. A second operation, called The surge, should take place later. This must allow you to divide the network into more fragments (“splinters” in English), which would operate autonomously.
Therefore, transactions could be processed faster. Vitalik Buterin said he wants to go from 15,000 to 100,000 transactions per second. A spectacular increase in power that should allow the ether, which has no maximum limits unlike bitcoin (21 million at the end), to further shake the world’s leading cryptocurrency. More steps are expected to follow in the coming years, but the inventor of Ethereum still keeps his long-term ambitions a secret.