After over 20 months of Beacon Chain and testnet merges, we’re finally about to undergo the most important upgrade in Ethereum and Web3’s history: The Ethereum Merge.
The Ethereum Merge, previously known as ETH2.0, is the network’s transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Proof-of-Work is the consensus mechanism in which blocks are completed through computational effort: miners require a lot of hardware and electricity in order to complete blocks, secure the network, and earn ETH. Proof-of-Stake, on the other hand, skips the “lots of hardware and high energy consumption” part, and jumps straight to securing the network through ETH staked by the validators.
One of the most frequently asked questions is, if the validators with the highest ETH stake will be completing a lot of the blocks (just like we see with Mining Farms), how can we ensure these act in a honest way?
Well, given validators’ funds are staked in the network, these funds are also used as a “collateral”: if validators act maliciously, the network will slash that validator’s funds. Based on this principle, incentives to act maliciously are minimized.
Ah, this is a good one! There’s been a lot of misinformation going around in terms of “all the things that will come with the Merge”. The Merge will NOT:
It’s possible that we could see some type of downtime or bumps while the Merge is taking place, but even then, this has been a live example that user-activated, autonomous, decentralized coordination can work. In the words of Patrick Collison “One of the coolest examples of sustained, ambitious, technically difficult open source development.”
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.