Irrational exuberance/everyone losing their sh1t re the upcoming Merge, is great to watch. Everyone involved in pushing code that works and is useful to production, in any given scenario, is a hero in my book.
Those that are pushing the decentralised future of finance and a new general purpose technology to production deserve the spotlight. This is very much a space shuttle launch moment for the world. That launch is happening without a boss or mission control, and the essence of the event will be a bunch of “dudes/dudettes” sipping tea in their pajamas, which makes it that much cooler.
Launchnodes’ goal has always been to provide maximum usefulness to our customers and the ecosystem of non custodial staking. We focus on Ethereum for a reason, because we are sceptical of the multi-chain world, and the multi-chain world is new and full of huge amounts of bullsh!4t and bullsh!4ters. So as the Merge approaches, rather than explain “all the things”, I thought it would be useful to try and explain important bits of the Merge. One digestible piece at a time rather than go all the way up starting from the transistor.
Digestible bite 1: The execution Layer
What is the execution layer?
Its ETH1, which refers to Ethereum using the proof-of-work (PoW) consensus mechanism, the clients that handle this are below. The only ones you need to care about are Geth and Erigon.
If I’m staking, is the execution layer client in place for me and my node post the Merge?
Yes! If you are using Launchnodes it is, the Beacon nodes you are running or connecting to through Launchnodes, have Geth running. So post Merge, you don’t need to do anything, just enjoy the spike in revenue from the MEV you might be lucky enough to get in addition to your baseline staking rewards.
Dazed and Confused
Ethereum’s YouTube video you’ll find below, boasts the following statement:
“Some stakers outsource this functionality (running a proof of work node), at the Merge, this is no longer outsourceable because you want to be able to build blocks, you want to have a mempool, you want to do verifications real quick, so if you do not currently run a proof of work node you do need to sync a proof of work node, and have to get it set up and configured and ready to go.Your proof of work node at the transition will become your execution engine… so you are not running a proof of work node in your set up now, I would consider doing that soon, syncing a main net proof of work node, getting that configured, and making sure the two talk to each other and you’re not outsourcing that duty anymore.”
…confused the pants off many of our customers. So I hope this clears it up. Launchnodes’ customers have this covered!
Happy staking, folks!