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Mainnet Merge Announcement

blog.ethereum.org

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Re: Mainnet Merge Announcement

#11

Post by muglug »

rvz wrote: post #8

> Ethereum’s transition to proof-of-stake has been a loooong time coming. Thank you to everyone who contributed to researching, specifying, developing, analyzing, testing, breaking, fixing, or explaining everything that got us to The Merge. At least now it has a hard deadline which will silence the parroting critics on 'burning up the planet', 'The merge will NEVER happen', 'repeated delays', etc. But I imagine that…

As long as Bitcoin is still around crypto will have a heavy environmental asterisk attached to it.

But, at least to me, this will make ethereum-based NFTs of interesting art a more morally-justifiable purchase.

Re: Mainnet Merge Announcement

#12

Post by pimterry »

This sets concrete trigger parameters for the switchover, which implies an approximate date, but not a well-defined hard deadline.

If you're interested in the real progress, there's a helpful live timer tracking the countdown to that trigger & current switchover time estimates here: https://wenmerge.com/

Re: Mainnet Merge Announcement

#13

Post by JohnJamesRambo »

spywaregorilla wrote: post #10

Is it incorrect to say that ethereum is now entirely centralized with some extra steps? Like, you have this proof of stake thing, but the only reason it works is because there's just a small number of validators, which is just going to be the ethereum foundation and friends. edit: putting this at the top because nobody is responding on topic. I am NOT talking about the class of people who stake 32 eth to validate nod…

Yes it is incorrect.

https://i.redd.it/5lhlmwdg27j91.png

Ethereum will be more decentralized after proof of stake. No longer do you need massive amounts of electricity and insider access to gpu or asic manufacturers.

Re: Mainnet Merge Announcement

#14

Post by jjulius »

spywaregorilla wrote: post #10

Is it incorrect to say that ethereum is now entirely centralized with some extra steps? Like, you have this proof of stake thing, but the only reason it works is because there's just a small number of validators, which is just going to be the ethereum foundation and friends. edit: putting this at the top because nobody is responding on topic. I am NOT talking about the class of people who stake 32 eth to validate nod…

I have been wondering the same thing about this, too. I'm fairly eye-rolly when it comes to crypto and such, so I'd be curious to see if this take is accurate or not.

Re: Mainnet Merge Announcement

#15

Post by thebeastie »

spywaregorilla wrote: post #10

Is it incorrect to say that ethereum is now entirely centralized with some extra steps? Like, you have this proof of stake thing, but the only reason it works is because there's just a small number of validators, which is just going to be the ethereum foundation and friends. edit: putting this at the top because nobody is responding on topic. I am NOT talking about the class of people who stake 32 eth to validate nod…

No, the validators are anyone with a stake in the system, not just the Ethereum foundation and friends.

Re: Mainnet Merge Announcement

#16

Post by cypress66 »

pimterry wrote: post #12

This sets concrete trigger parameters for the switchover, which implies an approximate date, but not a well-defined hard deadline. If you're interested in the real progress, there's a helpful live timer tracking the countdown to that trigger & current switchover time estimates here: https://wenmerge.com/

There's also http://bordel.wtf which I think is more accurate

Re: Mainnet Merge Announcement

#18

Post by luma »

JohnJamesRambo wrote: post #13
spywaregorilla wrote: post #10

Is it incorrect to say that ethereum is now entirely centralized with some extra steps? Like, you have this proof of stake thing, but the only reason it works is because there's just a small number of validators, which is just going to be the ethereum foundation and friends. edit: putting this at the top because nobody is responding on topic. I am NOT talking about the class of people who stake 32 eth to validate nod…

Yes it is incorrect. https://i.redd.it/5lhlmwdg27j91.png Ethereum will be more decentralized after proof of stake. No longer do you need massive amounts of electricity and insider access to gpu or asic manufacturers.

Instead you just need a massive amount of eth

Re: Mainnet Merge Announcement

#19

Post by spywaregorilla »

JohnJamesRambo wrote: post #13
spywaregorilla wrote: post #10

Is it incorrect to say that ethereum is now entirely centralized with some extra steps? Like, you have this proof of stake thing, but the only reason it works is because there's just a small number of validators, which is just going to be the ethereum foundation and friends. edit: putting this at the top because nobody is responding on topic. I am NOT talking about the class of people who stake 32 eth to validate nod…

Yes it is incorrect. https://i.redd.it/5lhlmwdg27j91.png Ethereum will be more decentralized after proof of stake. No longer do you need massive amounts of electricity and insider access to gpu or asic manufacturers.

This is not the question I am asking. You can have many people putting up their 32 ETH. Sure that's "decentralized".

But what if most of the stakers collude to double spend tokens? My understanding is that there is an additional layer of validators that have the power to force them to give up their stake as a penalty. Hence "proof of stake". And that there are very few validators. And it's really just the ethereum foundation.

Re: Mainnet Merge Announcement

#20

Post by spywaregorilla »

thebeastie wrote: post #15
spywaregorilla wrote: post #10

Is it incorrect to say that ethereum is now entirely centralized with some extra steps? Like, you have this proof of stake thing, but the only reason it works is because there's just a small number of validators, which is just going to be the ethereum foundation and friends. edit: putting this at the top because nobody is responding on topic. I am NOT talking about the class of people who stake 32 eth to validate nod…

No, the validators are anyone with a stake in the system, not just the Ethereum foundation and friends.

Not the people putting up the stake. The people with the power to declare them liars who lose their stake.
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