The Ethereum Merge is called a revolution in the crypto world. Be the pioneer of progressive change together with InstaForex.
After the shift from Proof-of-Work (PoW) to Proof-of-Stake (PoS), the Ethereum blockchain became faster, greener, and safer.
- Nods are now selected based on the total amount of ETH invested. So, stakers or validators, as they are now called, no longer have to solve cryptogram puzzles to validate new blocks. Instead, they must have at least 32 ETH in the pool. ETH tokens are used as lottery tickets: the more ether validators stake, the more likely it is that one of their tickets will be drawn and they will add a record of a transaction to the Ethereum digital ledger.
- Since cryptogram puzzles will no longer be part of the system, energy costs will drop by as much as 99.65%. In terms of power consumption, running POS is like running Google Chrome or Netflix.
- Attackers would now need 51% of the staked ETH to bypass the system. The more ETH tokens are staked, the more secure the network becomes, as the value of the system’s 51% capital increases. What is more, hackers can now be correctly identified and kicked out of the system.