The first step towards the Ethereum Merge officially began today at 11:34:47 UTC with the Bellatrix upgrade, and the upgrade is expected to be completed around September 15. But what exactly is the Ethereum Merge, and why is there so much hype around it?
The Merge is a significant step in moving the consensus mechanism of the Ethereum network from Proof-of-Work (PoW) to Proof-of-Stake (PoS). This is achieved by joining the existing Ethereum execution layer with its proof-of-stake consensus layer, the Beacon Chain. The Beacon Chain was introduced in 2020 and allowed users to stake Ethereum tokens (ETH) to secure the network while developers prepare for the eventual transition.
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