The much-anticipated switch to proof-of-stake, according to Ethereum core developer Tim Beiko, may not happen until the fall. The Merge marks Ethereum's transition to a proof-of-stake (PoS) security mechanism. The network currently uses a resource-intensive proof-of-work (PoW) system similar to Bitcoin, in which a decentralised network of computers competes to validate transactions.
The switch to PoS, in which users reserve the ability to secure the network by "staking" ether, is expected to cut Ethereum's energy costs by 99 percent and make scaling easier. This is the latest in a long line of setbacks for a project that was supposed to be finished in 2019.
However, as this move continues to be postponed, I believe we should examine our next major projects very carefully and with a long-term perspective. There are energy-efficient coins like algorand, fantom, and new projects like bob eco coin on the market. Do you think we'll be able to successfully transition to pos this year? I'm currently considering adding some energy-efficient projects to my portfolio!
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