Web3 Platforms Brace Themselves for Impending Ethereum Merge
Several Web3 platforms operating on the Ethereum blockchain have announced contingency plans ahead of the anticipated Merge next month. After years of development and community support, Ethereum will finally transition from the proof-of-work (PoW) validation mechanism.
Following countless trials, the blockchain will merge next month with the Beacon Chain, after which it will operate using the proof-of-stake method. Under the proof-of-stake method, crypto investors stake a certain amount of their crypto on the shared network, rather than using industrial amounts of commuting power to effectively generate more cryptocurrency. Supporting the network in this way enfranchises stakers with participation.
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