Everyone in the cryptocurrency world was watching the Ethereum Merge since it is the most extensive blockchain network that can support smart contracts. Therefore, implementing such a significant move to the Ethereum network without downtime is a big undertaking that needs a lot of exact engineering and coding expertise from a group of incredibly committed engineers.
Many things might have gone wrong when the Ethereum Merge went live on September 15, 2022, at 12:18 IST. But everything went off without a hitch, which makes the whole Ethereum community, the larger crypto, and the entire world happy.
To put it simply and to provide an illustration, Ethereum Merge was essentially like fixing and improving a spaceship and then having it sail through space with a new and more effective rocket engine without ever touching down on a planet. Buy Rivotril Online
The rocket may detonate with only one minor error. The network immediately moved from the old PoS consensus layer, often known as the Ethereum Beacon Chain, to the PoW consensus layer during the Ethereum Merge, which likewise occurred without downtime.
Ethereum Price Prediction 2024 to 2028
In these five years, there would be a considerable rise in the price of Ethereum: from $1,673 to $3,969, a 137% gain. In 2024, the cost of Ethereum will start at $1,673, rise to $2,041 in the first six months of the year, and end at $2,261. That translates to an increase of 70%.
Ethereum Prediction 2029 to 2033
The price of Ethereum would increase throughout this time by 57%, from $3,969 to $6,251. In 2029, the cost of Ethereum will begin the year at $3,969, rise to $4,224 in the first half of the year, and end at $4,477. About +237% from now, to be exact.
The Ethereum Merge is now over. Next, what?
Contrary to popular belief, the Ethereum Merge was only the first of a series of actions that will be made to make the Ethereum network more effective, scalable, and secure in the future. The humorously called subsequent phases, the Surge, the Verge, the Purge, and the Splurge, will keep enhancing the scalability and security of Ethereum’s proof-of-stake network.
Let’s examine these upcoming changes that the Ethereum proof-of-stake blockchain is expected to see soon.
It is known as The Surge, one of the steps in the Ethereum master plan that aims to make Ethereum far more scalable than ever. Sharding is a notion that will be used in this situation.
The practice of “sharding,” which would divide Ethereum’s whole network into smaller units known as “shards,” is intended to significantly improve the network’s scalability. This is accomplished by dividing the data that the Ethereum mainnet is processing into 64 smaller chunks. It’s like breaking up Ethereum’s one broad highway into 64 separate, smaller ones so traffic can be better handled. Because this could only be accomplished using a Proof-of-Stake consensus method, the Ethereum Merge took place first.
Additional Reading: Myths About the Ethereum Merge
Merkle trees, a notion for network scalability, will be introduced in the next phase, referred to as the Verge. Merkle trees are a “strong enhancement to the Merkle proofs that enable reduced proof sizes,” according to Ethereum co-founder Vitalik Buterin. To make Ethereum more scalable, The Verge will optimize storage and smaller node sizes to reach the ultimate goal.
The Purge, the next phase of the Ethereum plan, aims to eliminate or “purging” surplus past data. The quantity of historical data on the network will effectively decrease due to this procedure, which will also increase the efficiency of the blockchain validation process for validators using the new Proof-of-stake consensus method. Additionally, it would relieve network congestion and speed up transaction processing. It is predicted that Ethereum will be able to perform over 100,000 transactions per second following “The Purge.”
This is the last stage of the Ethereum master plan, or the “fun stuff,” as Buterin puts it. This phase’s primary goals would be to ensure that all the preceding processes were successful and, if necessary, remove any problems from the code. The Purge will have already finished the hard work needed to increase Ethereum’s scalability.
Find out if Shiba Inu Reach $1?
Shiba Inu price prediction $1 is not likely to happen in 2022, but the new meme coin Tamadoge may. One of the most well-liked meme coins available is called Shiba Inu. It is actively developing its metaverse and new cryptocurrency exchange to encourage token use.
It is already common knowledge that maintaining a blockchain network may be challenging, mainly when the network in question is as extensive and well-known as Ethereum and has such a high value attached to it. Therefore, the Ethereum Merge was carried out carefully to guarantee that all system faults are eliminated and that the final product, when released to the public, cannot easily be compromised by opposing players in the ecosystem.