With its scientific technical roadmap and an ambitious vision, Ethereum will see a gradual improvement in its performance after the Merge, sustaining its overall development. Meanwhile, the Ethereum network will be upgraded by concentration on sharding after the Merge, and other POS layer 1 ecosystems will also experience distress. On top of that, the competitive landscape of layer 1 chain will be redefined by the Merge to some extent: Previous ETH miners will flock to other networks where extra hashrates could raise the price of corresponding tokens. The consensus and execution layers will be linked and statelessness will also be introduced not only to help maintain the degree of decentralization, but also contribute to future sharding.Īfter the Merge, ETH may enter a deflationary state and the network will be more energy-efficient. The proof-of-stake (POS) consensus mechanism will be adopted in the new system where a verifiers’ committee carries out the function of proposing and voting to form consensus upon certain blocks. The network will adopt an architecture in the form of a consensus layer and an execution layer (execution engine) to produce and synchronize blocks. The new block will carry the exterior of a Beacon block with contents from Ethereum proof-of-work (POW). The merge is not merely a response to the call for lower global carbon emissions, but also a critical step to lay the foundation for future upgrades including sharding.Īfter the Merge, changes will be seen in the network structure, block structure, consensus mechanism and state. The current Ethereum Mainnet will complete the transition from proof-of-work to proof-of-stake by merging with the Beacon Chain, while preserving contract execution functions and full historical data with the current user state. Authored by Huobi Research Institute researchers Barry Jiang and Tim Chen
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