After Ethereum (ETH), it is the turn of the Gnosis Chain to migrate to a new consensus method: Proof of Stake (PoS). Thanks to the success of this operation, the Gnosis Chain, which used the Proof of Authority (PoA), goes from 20 validators to more than 100,000 and becomes the 3rd most decentralized blockchain.
The Gnosis Chain follows the example of Ethereum
The Gnosis Chain, a privacy-focused blockchain and one of Ethereum’s first sidechains, successfully accomplished his own version of The Merge. With this update, the Gnosis Chain will no longer use the Proof of Authority (PoA) consensus method, and now works with Proof of Stake (PoS).
POS ACTIVATED!
Happy merge everyone!
🐼👉👈🐼
🐼👉👈🐼
🐼👉👈🐼Merge time: 2022-12-08 18:45:14.829 pic.twitter.com/4yeadPsbmV
— Gnosis Chain 🦉 (@gnosischain) December 8, 2022
Gnosis Chain is the second network after Ethereum to migrate to PoS from another consensus architecture. The team claims that this operation allows Gnosis Chain to become the 3rd most decentralized blockchain in the ecosystem, after Bitcoin and Ethereum. In effect, the number of validators of the Gnosis Chain is from less than 20 validators to more than 100,000.
The Gnosis Chain has simplified the process of managing a validator node as much as possible and lowered the barrier to entry: only one GNO token is needed.
After the success of its own iteration of The Merge, the Gnosis Chain team is working on improving its bridges, these protocols that allow tokens to be sent between two separate networks.
👉 Learn more about the different consensuses used by blockchains
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The turn of Dogecoin (DOGE)?
After Ethereum and Gnosis Chain, other blockchains could have their own “The Merge” and migrate to Proof of Stake. Asked by CoinDesk before the operation, Stefan George, the co-founder and chief technology officer of Gnosis, specified:
“We were delighted to see that Ethereum’s The Merge was successful and we are increasingly confident that we can successfully apply The Merge to Gnosis Chain. »
These words prove one thing, the success of The Merge update for the Ethereum blockchain confirmed that such a complex mission was achievable. The developers of the Gnosis blockchain affirm it, it is thanks to this that they decided to do the same and make their own The Merge.
Thereby, it is possible that a “The Merge Season” begins and that a multitude of blockchains follow the example of Ethereum and Gnosis Chain in the near future. Moreover, the next blockchain to migrate to Proof of Stake could be none other than Dogecoin (DOGE).
Currently in Proof of Work, the teams of the famous meme-corner are very seriously considering leaving the Proof of Work. They also approached Vitalik Buterin for help in this regard.
👉 What will the future of Ethereum (ETH) look like after The Merge?
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Source: Gnosis Chain
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Editor-in-chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have been striving to share quality content so that the sector becomes more democratic for everyone.
Clement Wardzala
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