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Sunday, December 4, 2022

Ethereum Merge: Why Is It Crucial?

Ethereum is set to take another crucial step towards becoming a Proof of Stake (PoS) blockchain. The system upgrade, known as Constantinople, was postponed last year due to security concerns but is now scheduled for this month. The team has revealed it will be implemented on the main net on Feb. 27 at block 7,280,000.

Despite being a major transition for the network, Constantinople’s impact on end users will be slender–it is designed to improve accuracy and efficiency in features designed for smart contracts. Critically, the upgrade will be accompanied by a reduction in mining reward from 3 ETH per block to 2 ETH per block. 

Ethereum Announces Merge 

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Financial analysts have warned that this would present difficulties for miners and could lead to some quitting Ethereum altogether. Ethereum is set to take another crucial step towards becoming a Proof of Stake (PoS) blockchain. The system upgrade, known as Constantinople, was postponed from last year due to security concerns but is now scheduled for this month. The team has revealed it will be implemented on the main net on Feb. 27 at block 7,280,000.

Despite being a major transition for the network, Constantinoples impact on end users will be slender–it is designed to improve accuracy and efficiency in features designed for smart contracts. Critically, the upgrade will be accompanied by a reduction in mining reward from 3 ETH per block to 2 ETH per block. Financial analysts have warned that this would present difficulties for miners and could lead to some quitting Ethereum altogether. Ethereum is set to take another crucial step towards becoming a Proof of Stake (PoS) blockchain.

The system upgrade, known as Constantinople, was postponed from last year due to security concerns but is now scheduled for this month. The team has revealed it will be implemented on the mainnet on Feb. 27 at block 7,280,000.

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Despite being a major transition for the network, Constantinoples impact on end users will be slender–it is designed to improve accuracy and efficiency in features designed for smart contracts. Critically, the upgrade will be accompanied by a reduction in mining reward from 3 ETH per block to 2 ETH per block. Financial analysts have warned that this would present difficulties for miners and could lead to some quitting Ethereum altogether

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