The Merge update in the Ethereum network is one of the most significant events in the history of the ecosystem. Although in the long term, all participants in the network will feel its impact by default, in the short term, some need to prepare for this event.
I am an investor/web user. Do I need to do something?
Regular users, traders, hodlers and investors of the ether (ETH) cryptocurrency do not need to do anything. Despite the fact that the ecosystem is “moving” from the Proof-of-Work algorithm to Proof-of-Stake, the entire transaction archive remains unchanged, note developers Ethereum.
This means that the cryptocurrency on the wallet will be available after the “merger”. No user action is required to update. However, it is likely that as the transition to a new algorithm, cryptocurrency scammers will come up with new schemes for theft, such as “upgrading coins to ETH2”. The developers emphasize: users do not need to send cryptocurrency anywhere to keep their assets as part of the upgrade.
I am a blockchain developer/node administrator/staking service provider. What should I do?
For those who provide intermediary staking services (or are the administrator of a node on the network), it is necessary to deploy on their computer both the client program for maintaining transaction verifications and the client program for executing commands within the network. More about it can be read on the official website of Ethereum.
For developers, the “move” to PoS will also mark a change. For example, after the update, the names of some operations will change, and the data storage scheme will also change. The generation time of each block will also change. If earlier each block in the Ethereum network was generated, on average, in 13 seconds, now it will take 12 seconds. Representatives of the Ethereum team advise those developers whose smart contracts depend on the block generation time to pay attention to this.
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