Today, Ethereum is set to merge from a proof of work system to a proof of stake system as part of a move to greatly reduce carbon emissions from electricity usage that cryptocurrencies suffer from.
The Ethereum Merge is watched with great anticipation by the entirety of the crypto community. At the precipice of such a tumultuous moment, it is always important to consider the security ramifications.
For instance, the Ethereum Merge has actually been in the works since 2014. The reason the devs have taken so long, and have previously delayed the merge, is because of security.
As of August 2022, Ethereum sits at a market share of 20% in the crypto market and is commonly seen as the cryptocurrency next to bitcoin. It’s 24 hour trading volume translates to roughly 18 billion USD.
Basically, there is a lot of money involved which is why the devs took their time for the merge: to ensure it is absolutely secure.
Meaning now more than ever, knowing how to write secure smart contracts is immensely valuable. As the ETH Merge drives record high adoption rates, the security dimension will become ever more lucrative as the money volume involved will increase dramatically.
We recently released a game for solidity and dapp along with the new Edgeware challenge: Play - SecDim
The challenges are built on the back of real security incidents, so investing time in training your skill on Smart Contract Security is sure to pay dividends especially now that the ETH Merge is going live.
Sources:
The Ethereum Merge is Imminent. Here’s Why It Matters (msn.com)
Ether Continues to Steal Crypto Market Share (coindesk.com)
Ethereum price today, ETH to USD live, marketcap and chart | CoinMarketCap