Yesterday’s Merge, the eagerly awaited project, was published. It set the groundwork for a Proof-of-Stake (PoS), consensus mechanism within the Ethereum (ETH).
The Merge is the first step in solving the scaling trilemma. However, the second-largest cryptocurrency must go through four additional steps to resolve this problem. reported Bloomberg.
The surge, the and the subsequent phases are the four phases. vergeThe purge, the splurge, and the splurge. According to the announcement
“The Surge: Implementation of sharding, a scaling solution which will lower the cost of bundled transactions on Ethereum.”
The report included the following:
“The Purge: Elimination of historical data and technical debt. The Splurge: Miscellaneous updates after the first four stages to ensure smooth functioning of the network.”
Although the timeframe for these stages isn’t well-defined, Sameep Singhania believes that it may take between two and three year. QuickSwap co-founder said:
“It’s hard to talk about the timelines of the following four stages because all of them are still under active research and development. But, in my opinion, it will easily take 2-3 years before all phases are complete.”
Aditya Khanduri from Biconomy was also the head of marketing and stated that the four upgrades were intended to make Ethereum faster, cheaper, and more scalable.
Vitalik Buterin, Ethereum’s co-founder, said that after the final four phases were completed the network would be capable of processing 100,000 transactions per second.
The merge is therefore seen as a step towards future improvements. The Merge involved developers who noted that moving from a proof of work (PoW), to PoS, would make it easier to design future updates for ETH with lower gas costs.