- Soon, the current Ethereum Mainnet will merge with the Beacon Chain proof-of-stake system.
- This will mark the end of proof-of-work for Ethereum, and the full transition to proof-of-stake.
- This sets the stage for future scaling upgrades including sharding.
- The Merge will reduce Ethereum’s energy consumption by ~99.95%.
The Merge represents the joining of the existing execution layer of Ethereum (the Mainnet we use today) with its new proof-of-stake consensus layer, the Beacon Chain. It eliminates the need for energy-intensive mining and instead secures the network using staked ETH. A truly exciting step in realizing the Ethereum vision – more scalability, security, and sustainability.
SERIAS FINTECH supports Ethereum 2.0 and participates in the validation of transactions via Proof of Stake (PoS).