Gnosis follows the footsteps of Ethereum in migrating to a Proof of Stake (PoS) protocol.
Gnosis is migrating from a Proof of Authority mechanism to PoS.
The builders are working to be sure that The Merge is profitable.
Gnosis community to migrate to a PoS protocol
Privacy-focused Gnosis, one of the first sidechains to Ethereum, is about to perform its personal model of the Merge a couple of hours from now.
???? Official Merge Announcement
The extremely anticipated Gnosis Merge is upon us! ????
The Gnosis Chain Merge is predicted round Thu Dec 08 18:47 2022 UTC.
????Details beneath???? pic.twitter.com/qy1WYkvwBT
— Gnosis Chain ???? (@gnosischain) December 6, 2022
The Merge will see Gnosis migrate from a proof-of-authority (PoA) chain to a proof-of-stake (PoS) beacon chain. According to the improvement group, the migration will happen Today, December 8, when a sure predetermined Total Terminal Difficulty (TTD) is reached.
Gnosis will develop into the main blockchain to perform The Merge after Ethereum migrated to the PoS chain in September. Ethereum migrated from a Proof of Work mechanism, whereas Gnosis will ditch its Proof of Authority (PoA) mechanism for PoS.
The PoA operates equally to the PoS mechanism. However, as a substitute of staking belongings (as seen in PoS blockchains), PoA validators stake their repute. This implies that the validators are required to meet sure necessities to be thought of reliable inside the group.
Similar to the PoS, the PoA is much less vitality intensive in contrast to the Proof of Work mechanism. This is as a result of there are fewer computational assets wanted to guarantee validators perform their capabilities.
The main distinction between PoA and PoS is that PoA is extra centralised because it selects just a few validators. The quantity of validators in PoS blockchains is way larger, making it extra decentralised.
Gnosis to have greater than 100k validators after The Merge
The Merge will see Gnosis go from having roughly 20 validators operating the blockchain to over 100,000 validators finishing up capabilities. Gnosis can be the blockchain with the second-highest quantity of validators, simply behind Ethereum with over 440k validators.
Tomorrow, precisely 1 yr after the Gnosis Beacon chain launched it should merge with Gnosis Chain and exchange a restricted set of <20 validators with over 100,000 validators from throughout the world. It will flip Gnosis into the chain with the second most validators and closest to Eth. pic.twitter.com/ywbIxhxS4E
— Martin Köppelmann ???????? (@koeppelmann) December 7, 2022
While talking to CoinDesk, Stefan George, the co-founder and chief expertise officer at Gnosis, stated;
“In the trilemma of scalability, decentralization and security, we focus on decentralization. Contrary to many ‘Ethereum killers,’ which favor scalability over decentralization, cheap blockspace is a commodity whereas decentralized blockspace is a scarce resource.”
He added that Gnosis is delighted to see Ethereum Merge was profitable, and that gave them the confidence to consider they will apply the Merge efficiently to Gnosis Chain. He concluded that;
“Initially, the goal was to do the Merge on Gnosis Chain before the Merge of Ethereum to show that it can be done safely on Ethereum. It turned out to be more complicated on Gnosis Chain as we were not switching from PoW but PoA and had to customize the existing code.”
