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Tag: PoW to PoS

Ethereum CEO, Buterin Vitalik Suggested solving Efficient Issues With How Memory Consumption Is Limited On The EVM In Order To Adjust Memory Gas Costs
Ethereum

Ethereum CEO, Buterin Vitalik Suggested solving Efficient Issues With How Memory Consumption Is Limited On The EVM In Order To Adjust Memory Gas Costs

Unfortunately, the increased adoption of Ethereum’s network has been seriously endangered due to the unbearable gas fees and scalability concerns. For this reason alone, various DeFi projects consider to launching on the competing Layer 1 blockchain. For instance, Yuga Labs proposed that the ApeCoin DAO consider a migration to another Layer 1 blockchain. The vote was initiated then and the network voted against it narrowly. If not by now the project would have migrated to Avalanche. The Ethereum CEO, Buterin, proposed earlier how the memory gas costs can be adjusted. He suggested solving efficient issues with how memory consumption is limited on the EVM. https://twitter.com/VitalikButerin/status/1550741734082191362 Vitalik stated in the post “Currently, we limit the memory c...
Ethereum Core Developer Gives A Clue At Proof-Of-Stake Shift Taking Place In August 2022
Cryptocurrency

Ethereum Core Developer Gives A Clue At Proof-Of-Stake Shift Taking Place In August 2022

Ethereum is shifting from PoW to PoS network to solidify its stance in the crypto space. This plan and preparation, which have been ongoing for more than a year, seem to be ending. There’s a hopeful expectation that Ethereum will finally become a proof-of-Stake network. The transition process, also known as Merge, will soon come alive. Read Also: Blue Chip NFTs 101 – What’s The Secret Behind CloneX? Built For The Metaverse Every cryptocurrency network’s security and smooth running depend on its consensus mechanism. Also, it ensures its transaction validation process that will eliminate fraud and repetition due to errors of commitment and omission. At the permissionless conference, one of Ethereum’s core developers, Preston Van Loon, made this revelation to attendees. He stated th...