Recently, you may have heard some chatter about something called the Merge. As the future of web3 and crypto unfolds, the Merge will be remembered as a pivotal and historical event that changed the crypto community forever.
What is âthe Mergeâ?
The Merge joined the original layer of Ethereum (Mainnet) with its new proof-of-stake layer, the Beacon Chain. It eliminated the need for energy-intensive mining and instead enabled the the network to be secured using staked ETH. To quote ethereum.org: âIt was a truly exciting step in realizing the Ethereum visionâmore scalability, security, and sustainability.â
Initially, the Beacon Chain was shipped separately from Mainnet. Ethereum Mainnet - with all its accounts, balances, smart contracts, and blockchain state - continued to be secured by proof-of-work, even while the Beacon Chain ran in parallel using proof-of-stake. More on that below!
The Merge was when these two systems finally came together, and proof-of-work was permanently replaced by proof-of-stake đ¤
Does the Merge make Ethereum more efficient?
One of the biggest improvements the Merge created was the beginning of a more sustainable, eco-friendly Ethereum. Ethereum's energy consumption dropped by an estimated 99.95%, making Ethereum a green blockchain.
What does the Merge mean for you?
The good news is: you do not need to do anything with your funds or wallet with regards to the Merge.
The Merge NFTs:
To commemorate the Merge, a variety of designers and developers created commemorative NFTsâweâve selected a few of our favorites to showcase below đ
These collectibles honor all of the hard work that went into the merge and celebrate the future potential of a more efficient and environmentally-friendly Ethereum network.
The Merge: Regenesis
ConsenSys, one of the first ever companies founded to provide Ethereum applications, created several editions of artwork celebrating different aspects of the Merge: sustainability, scalability, and security.
The artwork has a retro-futurist feel, invoking the same look and feel as the imagery created in the 1970s by Rick Guidice for NASA.
Merge VV
VV stands for Visualize Value, a project by Jack Butcher that brings complex concepts from the technology industry to life in a signature white-on-black minimalist style.
Proof of Merge
A fully on-chain and soulbound NFT that transformed over the process of The Merge. Created by Michael Blau (x0r) and Mason Hall a partner at a16z Crypto. These NFTs will last as long as Ethereum lasts, and because they are soulbound, holders cannot transfer or sell them.