1/ The #Ethereum #Merge is coming soon! It’s impossible to determine the exact date because it is a software upgrade. But what is the #EthereumMerge, and why is it so important?
A 🧵
2/ @VitalikButerin claims that #Ethereum will be able to process "100,000 transactions per second" following the completion of 5 key phases:
1. The Merge
2. The Surge
3. The Verge
4. The Purge
5. The Splurge
A quick breakdown of the stages 👇
3/ The Merge.
The merging of the mainnet and the Beacon Chain.
#ETH:
1. Becomes a deflationary asset
2. Cuts power usage by 99%
The date of this upgrade is currently around September 15th, 2022.
4/ The Surge.
The introduction of Sharding on Ethereum.
Sharding splits a blockchain's entire network into smaller portions, known as "shards." Think of this as splitting the chain up into compartments.
This will increase the network's scalability.
5/ The Verge.
Introduces verkle trees, a "powerful upgrade to Merkle proofs that allow for much smaller proof sizes." This will change storage on Ethereum and help reduce node size. This will help ETH become more scalable.
6/ The Purge.
Reduces the hard drive space needed for validators. This will eliminate historical data and bad debt, reducing network congestion.
7/ The Splurge.
A series of small upgrades will ensure the network runs smoothly following the four stages.
8/ All these changes are discussed on @VitalikButerin's Twitter, website, and book.
Here at EPNS, we are pro ETH Merge and pro @VitalikButerin, and kudos to all the @ethereum core devs.
We are gonna merge it #wagmi
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