Ethereum is moving to proof-of-stake on Sept 6, 2022

[troubled soul]

FInal countdown started

Nice read here
https://scottmsul.substack.com/p/a-bitcoiners-guide-to-proof-of-stake

 

[clemens]

What exactly does it mean if someone has to explain it in normal understandable language?

 

[troubled soul]

What exactly does it mean if someone has to explain it in normal understandable language?

"The Ethereum Merge is a network update to transition Ethereum from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus mechanism."

Proof-of-Work (PoW)->>>>> Required Mining Hardware to validate transaction
Proof-of-Stake (PoS)>>>>> Not required
Meaning you do not required mining hardware any longer ... Do not required high Energy consumption to run ETH..

 

[clemens]

thank you very much, that information was useful, I understand it clear.

 

[troubled soul]

The Ethereum Merge was successfully completed. A new era begins!

 

[RealDude]

The Ethereum Merge was successfully completed. A new era begins!

View attachment 4088

It is not ready until my broker allows trading ETH again

 

[JackAlabama]

The Ethereum Merge was successfully completed. A new era begins!

View attachment 4088

POS is nothing groundbreaking...
Cardano, Atom, Polkadot etc etc all have it since a long time.

 

[GeneralGogol]

"A new era begins"

ETH -7% on the day

 

[overnbeyond]

dump the news event, can't see it as a catalyst for change in the market! Nasdaq is up, risk-on assets do really well when Nasdaq is up, and BTC is pretty much correlated to the s&p 500 that's the lead for now