The Digital Monetary Fund has developed Smart Contracts for a portfolio of stable-coins on the Ethereum blockchain. Ethereum 2 is a great leap forward and we have been waiting for the full transition to a full Proof of Stake Ethereum before going live.

The current Ethereum Mainnet will complete the transition from proof-of-work to proof-of-stake by merging with the Beacon Chain, while preserving contract execution functions and full historical data with the current user state. The merge is not merely a response to the call for lower global carbon emissions, but also a critical step to lay the foundation for future upgrades including sharding.

After the Merge, changes will be seen in the network structure, block structure, consensus mechanism and state. The new block will carry the exterior of a Beacon block with contents from Ethereum proof-of-work (POW). The network will adopt an architecture in the form of a consensus layer and an execution layer (execution engine) to produce and synchronize blocks. The proof-of-stake (POS) consensus mechanism will be adopted in the new system where a verifiers’ committee carries out the function of proposing and voting to form consensus upon certain blocks. The consensus and execution layers will be linked; and statelessness will also be introduced not only to help maintain the degree of decentralization, but also contribute to future sharding.