September 13, 2022
SKALE and The ETH Merge
There’s been a lot of news surrounding the much anticipated Ethereum Merge, and SKALE is excited about this change. For those who don’t know, the Merge is Ethereum’s move from a Proof-of-Work (PoW) consensus mechanism to a Proof-of-Stake (PoS) consensus mechanism, and it’s expected to happen sometime this week. In essence, the Merge is a change in consensus mechanism. It does not, however, expand network capacity, fix expensive ETH gas fees or boost Ethereum’s speed. While important for the greater ecosystem, SKALE is as essential as ever for scaling Ethereum.
To effectively support the SKALE Network and wider community, SKALE Labs is planning to support The Merge and does not have plans to support any fork. It’s clear that the Merge will make Ethereum more secure, reduce energy usage by 99.9 per cent, and be better for implementing scaling solutions like SKALE, which will be required to get billions of consumers onboarded to Web3.
The SKALE community has been preparing for ETH 2.0 for some time now. These preparations have included operating an ETH 2.0 testnet, both internally with the core team and with external validators. Testing so far has been running smoothly as we approach the Merge, which is an important component for future success. Additionally, the community continues to stay in the loop on the latest updates to ETH 2.0, and the execution of the planned path to update SKALE validators is ongoing.
SKALE’s community will monitor Ethereum and SKALE continually to ensure the networks are stable and safe to use. Leading up to and throughout the Merge, we don’t anticipate any disruptions, but we have resources and processes in place to react quickly should there be any issues.
For SKL token holders, as always, it’s vital to beware of potential scams, especially leading up to and just after the merge. Always watch out for scammers who suggest you need to upgrade or transfer to a new token. Please double check multiple official SKALE channels such as the SKALE Twitter and SKALE Telegram channels.
During the merge, some exchanges, dexes, and wallets are planning on pausing transfers, deposits, withdrawals, etc. If you hold SKL in any of these places, please refer to those projects/companies' official channels to better understand how your tokens will be affected. If you have your SKL tokens staked, they will be unaffected by the merge. The Merge is only a change in the consensus mechanism of the Ethereum Network, and all the smart contracts will remain unaffected.
We're extremely excited about the growth that the Ethereum Merge will enable and can’t wait to watch the SKALE Network take off exponentially in both use and users.
For more information, check out the resources below:
Math for the Impatient: What is the ETH 2 merge
For more information on SKALE:
SKALE is an Ethereum native, modular blockchain network composed of high-throughput, low-latency blockchains that are optimized for Web3 user experience. SKALE chains offer zero gas fees to end-users and have advanced features such as on-chain file storage, interchain messaging, zero-cost minting, ML/AI smart contracts, and enhanced security features.
The SKALE network enables developers to deploy their own EVM blockchain in minutes without sacrificing speed, security, or decentralization. Welcome to the SKALEverse.