![]() This is important because as the network grows, it must be environmentally sustainable and now, it is. PoS reduces Ethereum’s energy consumption by ~99.98%, making the blockchain more sustainable as we move towards mass decentralization. TLDR: This just happened! Ethereum now confirms transactions with a Proof of Stake (PoS) consensus mechanism. Let’s review each phase in detail to sustain today’s momentum. He also said that each phase will be 55% done post-merge. The order of rollout of these upgrades has not yet been decided, but the work is happening simultaneously as you read this.Īccording to Vitalik, after these upgrades, Ethereum will be capable of processing “100k TPS”. They are fairly independent and are being worked on in parallel. (Nice alliteration, Vitalik.) Below is a diagram of the Ethereum protocol development roadmap shared by Vitalik in this tweet that outlines each upgrade:Įach of these upgrades will not necessarily follow one after the other. In this blog we describe what’s next for Ethereum’s protocol development.Īt EthCC in Paris this past July, Vitalik explained the next phases of making Ethereum more scalable, private, and secure - upgrades he’s calling the Surge, Verge, Purge, and Splurge. And while congratulations are in order, the Merge is also the beginning of a new phase of Ethereum’s development. We are grateful to the core devs like Ben Edington, Mikhail Kalinin, Adrian Sutton, and others from the Ethereum Foundation and around the world who persistently saw the transition to Proof of Stake through. We at ConsenSys will forever cherish this moment with gratitude and hope. From darkness, to twilight, the new dawn of Ethereum starts today. No other technology in history has reduced its energy usage to this extent. Ethereum is now using Proof of Stake and its implications for not only the blockchain, but the world are profound: the merge will reduce the worldwide electricity consumption by 0.2%. ![]() After seven years of relentless work across this ecosystem, the Ethereum Merge was successfully completed. You can see these steps and those of the future phases in this handy chart issued by Ethereum creator Vitalik Buterin.Just after 3am in the morning on September 15th, 2022 the Ethereum community made history. Roll ups allow for transactions to be processed and cryptographically linked and rolled up into one off-chain to be presented to the network as a single entry. The use of sharding will also allow for the network to take advantage of roll ups. Right now Ethereum can only handle 15-20 transactions per second.īut that will change as sharding dramatically lowers the data lift necessary to maintain a node from several gigabytes today to a number that can be easily handled on a phone or personal computer. This could not be done under proof-of-work, which by its very definition requires every single node to process and keep a record of every single transaction. The real magic here is that Ethereum will still have a way for the shards to communicate back to the base layer to ensure that the network maintains its position as a single source of truth. There are many permutations of sharding, Ethereum plans to use one called Danksharding, but all you really need to know is that sharding essentially splits the network into different sets of validators that work on separate transactions on a concurrent basis. The Surge, which is next on the roadmap is going to introduce a concept known as sharding. At a high level here is what they all mean. Those four upgrades are the Surge, Verge, Purge and Splurge. The shift to proof-of-stake was a critical step for readying the platform for another set of four upgrades that are designed to see the platform reach 100,000 transactions per second.
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