eli5 What is The Merge?
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The way Ethereum currently works is you need a lot of computing power to solves and confirm blocks, this is called ‘Proof of Work’ basically the Ethereum chain is secure because the chain requires everyone doing huge amounts of computing work to confirm it.
The new method is ‘Proof of Stake’ where there’s less emphasis on computing power, and it’s more that the major holders agree. The chain is confirmed because the most money confirms it, people with the biggest stake in it confirm it.
This should drastically reduce transaction costs and computing power required.
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