Hello everyone. How are you doing, and how is your life going? I hope you are all well and having a good time with your loved ones. I recently discussed the Ethereum merge, which changed its status from proof of work to proof of stake. This is one of the most significant updates for Ethereum, as they have changed their status and are now using proof of work. While many Ethereum holders are pleased with the change and upgrade, others are concerned about the change in status and whether or not they will succeed in the proof work.
ETHEREUM SUCCESSFULLY MERGED AND SHARDED TO NEW STRUCTURE
However, Ethereum has completely merged and is now at the proof of stake stage. Many changes occur following the merger, such as in Gerneral proof of stake, which provides numerous benefits, the best of which are scalability and sustainability. However, according to my thoughts and reviews, it has also reached a point where it is no longer subject to proof of work, implying that Ethereum is no longer decentralised. The team will work for the ETH, controlling the technology and managing their manual work. However, there are numerous advantages for them, which we will go over in detail.
Do not fall victim to scammers following the Ethereum merger.
After being merged and moving to its new sharded structure, Ethereum holders are still concerned and have questions about how to transfer our coin to the new structure. Scammers are active, and their group is urging ETH holders to move their Ethereum to the new sharded structure in order to protect their investment. Some people have been caught up in this case and have lost their assets. Some people have been duped by scammers' advice to transfer their coins to an unknown address. There is nothing to do with your coins if you are an ETH holder, and there is no need for any kind of transfer.
What should you do with your Ethereum?
Because Ethereum has been sharded to the new structure, there are some risks. We need to know what to do with our holdings and what kind of alerts we should be aware of. This is a good question to be answered because it is for the safety of your fund, and after every upgrade, you must be aware of the new mechanism to be safe and sound. Ethereum was built on the proof-of-work mechanism used by Bitcoin. Where miners agreed to mine BTC while remaining stable. Satoshi Nakamoto created this to decentralise the coin and protect it from malicious attacks. As BTC is now several years old, we have yet to face a malicious attack, indicating that the proof of work mechanism is secure and cannot be accessed by anyone.
Ehtereum proposed changing the structure to PoS because they believe that proof of work, while safe, has many drawbacks that must be considered and resolved.
Contracts will be difficult because they lack sufficient blocks and instead require a large number of network interactions.
It uses more energy, which is inefficient. In short, it consumes more energy than large-scale attacks by bad actors. They stepped up and changed the structure to proof of stake to secure the network.
As we all know, cryptocurrency is growing in popularity, and this network is no exception. It has been difficult to scale these networks, and the number of pending transactions has increased, so they sharded to the new structure to scale high traffic and save time instead of having to wait a couple of hours.
resolving the mining issue, which may lead to a centralization of mining power.
Thoughts on the End
These are the major changes that occurred following the merger of Ethereum, and anyone who owns ETH should be aware of these changes in order to protect their investment. The main point of the post is that HODLers are safe with their coins after the merge and no need to transfer their coin anywhere. You do not need to consult anyone regarding the transfer of your tokens in order to protect your investment. Stay with ETH and you will be completely safe, but only if the value of ETH falls below. The transition from work to stake appears to be beneficial, and I believe it will provide numerous benefits to its users.
This is an attempt to discuss the Ethereum Merge and the holders who are concerned about the merger. I've shared some information with you in the hopes that it will be useful in some way. I hope you find this post useful, and if you do, please remember to reblog it so that more people can find it and benefit from it. Don't forget to upvote, which will help me financially as well as grow my account. Feel free to ask any question you have about the ETH merge, and you will receive an answer.
DISCLAIMER
Please keep in mind that I am not a financial advisor. Never, ever take anything I say as financial advice. Conduct your own research. Before making any investment decisions, consult with a professional investment advisor! My posts are strictly for entertainment purposes!!
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