The change could also put Ethereum in more of a regulatory gray area. ![]() The price of ether, Ethereum’s cryptocurrency, could move up or down after the initial instability of speculation, and other proof-of-stake coins like Solana and Polkadot could be affected as well. In July, Buterin said he’d consider Ethereum only 55% “done” after the Merge. Some of the scaling efficiencies that supporters are excited about won’t even arrive until after the Surge, Verge, Purge, and Splurge-other upgrades Ethereum CEO Vitalik Buterin has promised, which may continue well into 2023. We won’t know right away whether the Merge-the moment when Ethereum’s main network joins with the layer that is using the new consensus mechanism-lives up to its transformative promise. The minimum amount you can stake to become a validator is 32 ether (ETH), which was worth about $51,000 as of Wednesday afternoon, although individuals can join together in a staking pool to meet the requirement. Google search results for "Ethereum Merge" featured a countdown clock in the days leading up to the event.īy reducing the required overhead for participation and cutting fees through efficiency improvements, switching to proof of stake could help Ethereum distribute transactions across a wider and more diverse set of validators and users. Although the mechanism was intended to promote decentralization, in practice individuals or groups with access to significant computer power have dominated proof-of-work mining and reaped those benefits. ![]() But that ideal has been difficult to achieve with proof of work. Decentralization––the idea that decision-making and control should be distributed rather than consolidated in a single authority-has always been key to Ethereum’s vision.
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