Ethereum has completed its long-awaited “merging” into a more energy-efficient way to mint new tokens, cryptocurrency co-founder Vitalik Buterin tweeted They will be generated using “proof of stake” methods that require users called validators to share tokens for a chance to approve transactions and earn a small reward, according to the website. Engadget.
Even today mining Ethereum required powerful banks of computers to solve difficult math problems. Ethereum Difficult and expensive for small transactions.
With the new system, the higher the risk of the auditors, the higher the chance of winning a bonus, but everyone gets at least something, as all the ether accumulated earns interest (about 5.2 percent), making it akin to buying a bond or putting it in a bank (excluding regardless of wild market volatility, of course). The minimum bet amount required to be a validator is 32 Ether (around $50,000 at the moment), although individuals can make a combined contribution with trusted third-party validators to meet this level.
I got merge on her name because Ethereum Blockchain It has been integrated with a parallel network that has now been running for nearly two years in proof-of-stake testing, but it’s just one step in the transformation.
“We still have to expand, we have to fix privacy,” Buterin said during a live merger event. “For me, the merger symbolizes the difference between the early stage of Ethereum Which we’ve always wanted.”
Ether today started to climb, but has since fallen by a handful, and it remains to be seen if the merger will deliver on its promise to convert cryptocurrency, as many questions remain about regulation, and forks Ethereum and more.
There is also the risk of scams (as is usual in cryptocurrencies), with the risk of copying transactions from the old chain to the new chain, among other things.