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Ethereum one step closer to its Proof-of-Stake (PoS) future

Ethereum’s transition from Proof-of-Work to Proof-of-Stake is officially underway, with a successful test of the chain merger.
| Cryptopress
Updated: March 17, 2022

CryptoPress

Ethereum’s transition from Proof-of-Work to Proof-of-Stake is officially underway, with a successful test of the chain merger between the Eth2 Beacon Chain and the Ethereum mainnet.

Together, these two chains will form the foundation of Eth2, which will include Ethereum moving away from energy-intensive mining and adopting more sustainable consensus methods.

On March 15, the Ethereum Foundation announced that the merger had been successfully executed on the recently launched Kiln testnet.

“Like the Ethereum mainnet, the Kiln execution layer was launched under proof-of-work in parallel to a Beacon Chain running proof-of-stake,” the foundation wrote. “The merger occurred in Kiln on March 15, 2022. The network is now fully operational under proof-of-stake!”

The network is now running fully proof-of-stake.

The organization added that Kiln “is expected to be the last merge testnet created before existing public testnets are upgraded.” He also urged developers, node operators, infrastructure providers, and stakers to experiment on Kiln before attempting to launch into public testnet deployments of The Merge.

According to the announcement, this was one of the “major milestones” on the road to Eth2, and it was met without a hitch. The merger took place in block 12,244,000 of the main network.

The implementation of Eth2 is divided into multiple phases. Phase 0, which launches the Beacon chain, paved the way for Phase 1, which will connect the Beacon chain to an updated version of Ethereum 1.0 and launch sharding, allowing multiple blockchains to function on a single network.

The Beacon Chain acts as a coordinator between the current Ethereum mainnet and Eth2.

The Beacon Chain acts as a coordinator between the current Ethereum mainnet and Eth2, the upcoming blockchain that will feature staking, sharding, and other features designed to make it more scalable than current PoW blockchains.

The team responsible for carrying out this transition has already passed several milestones: in December 2020, they launched Medalla – a public testnet that allows anyone to participate in block validation on ETH 2.

Eth2 is a big change from the current Ethereum consensus mechanism: PoW. A PoW system requires computationally expensive tasks to confirm transactions and create new blocks. Instead, a PoS system requires users to lock up some of their coins as a form of deposit, which is much less energetically expensive. 


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© 2022 Cryptopress. For informational purposes only, not offered as advice of any kind.

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