The upcoming Ethereum merge will change the Ethereum network from proof-of-work to proof-of-stake, which is far less harmful to the environment.
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Ethereum’s website states that a final merge date is not set, though a leader on the project tweeted that Sept. 19 was the target date. But the project, which has been in development for a few years, has been delayed several times before. While it seems that plans for the merge have become firmer, more delays are possible.
Proof-of-stake is an alternative that consumes less energy. Instead of devoting electricity, which fuels computing power, users who want to be part of the verification process will put their personal cryptocurrency on the line in a process called staking. These users, called validators, are randomly selected to verify new information to be added to a block. They receive cryptocurrency if they confirm accurate information. If they act dishonestly, they stand to lose their stake.
Sharding will become possible. Sharding, which splits validation work into smaller amounts, should allow the network to handle more transactions. It also could increase network participants by allowing people to run Ethereum on small devices, like phones. Sharding is not part of the merge, but it will be on the table for future updates.
The way you access your ETH. Because the merge will transfer the entire transaction history, those digital assets will be accessible in the same way as before.
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