Ethereum merges seamlessly in a historic moment When will it surge

Ethereum Merge

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Ethereum mergesseamlessly in a historic moment When will it surge

Today was amonumental day for the crypto ecosystem as Ethereum (ETH) transitionedto proof-of-stake seamlessly a few hours ago. The complexity thatsurrounded the Merge upgrade was nothing short of a miracle because it wassimilar to changing the engine on a running car. For a long time, the ETHnetwork has been riddled with scalability issues. With Merge, the stage is setfor the transformation into a powerful infrastructure layer for rollups.Rollups, stated in simple terms, allows transactions to be processed faster byperforming it on another separate chain.

Surge

What theMerge does is combine the old execution layer of Ethereum with the newconsensus engine provided by the Beacon Chain, swapping the current algorithmutilizing proof-of-work (PoW) miners with a coordinated network ofproof-of-stake (PoS) validators. Moving forward, PoS validators will beresponsible for verifying the transactions.

Ethereum will now implement theProposal-Builder separation (PBS) for the consensus layer. PBS is a potentialsolution to blockchain censorship and maximum extractable value (MEV)attack problem. Let’s dive into this.

Traditionally(in PoW Ethereum), any node can be a block proposer. It means miners competewith other miners to be the block proposer. With the Ethereum Merge, whereEthereum will become Proof-of-Stake, validators are randomly selected to be blockproposers in every slot. This validator creates the new block and sends it toother nodes in the network. At the same time, a committee of validators israndomly selected, who will vote to determine the validity of the proposedblock.

Danksharding

The PBSdesign makes it easy to implement danksharding on top of it.Dank sharding is a new sharding design, where one proposer chooses alltransactions and data that goes into a slot. The proposer, who is randomlychosen, subsequently performs data availability sampling (instead ofdownloading the entire chain) on blockchain data. This ensures a decentralizedway of maintaining data availability for light clients, which is not possiblewith single-validation due to the excessive data size of blocks post-merge.Surge upgrade will unlock interesting capabilities for Zero Knowledge (ZK)rollups and is scheduled to occur later in 2023-24.

Ethereum, Ethereum merges, crypto ecosystem, proof-of-stake, blockchain, decentralized ,post-merge, Danksharding, POW, PBS, MEW, ETH network, Surge


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