BPT Consensus Algorithm

In reality, Ethereum is evolving one mainnet at a time, with each mainnet following its own development roadmap. Ethereum's 2.0, the first phase of its consensus algorithm, "The Merge," was completed on September 15, 2022.

‘The Merge’ is converting Ethereum’s consensus algorithm from PoW, which we discussed earlier, to PoS. Ethereum had the transition to PoS in mind from the beginning of its development. To this end, it has been creating and testing a ‘Beacon Chain’ using PoS since December 2020. With the transition to PoS, the hardware requirements for operating a node have decreased relative to PoW, and the minimum stake for node participation has been set at 32 ETH.

This upgrade will take place in The Surge. It will be followed by three other phases, including The Verge. Each phase is being developed in parallel and will be applied incrementally.

The Ethereum consensus algorithm can have various impacts on the BPT Project. Various scaling solutions provide opportunities to improve the scalability of the BPT Network and increase transaction throughput. BPT Project actively adopts these scaling solutions to improve the performance of the platform.