Critical Move from Privacy Coin Makes a First After Ethereum (ETH)!

Privacy focused Gnosis (GNO) chain will perform its own Proof-of-Stake ‘Merge’.
This will be the second time in blockchain history that a chain has replaced its legacy model with proof-of-stake.

Update on Privacy Coin Gnosis Will Be First After Ethereum

Privacy-focused Gnosis, one of Ethereum’s first sidechains, will implement its own version of Merge to replace its own proof-of-authority (PoA) chain with the Gnosis proof-of-stake (PoS) token chain.

Consolidation will occur today when a certain predetermined Total Terminal Difficulty (TTD) is reached.

While TTD is a benchmark typically used for proof-of-work (PoW) blockchains, it can be used to schedule forking for PoA chains.

This will be the second “Merge” event in Blockchain history, following its September Merge, when the Ethereum Blockchain replaced the old PoW model for PoS. This time however, the Gnosis “Convergence” will be a little different as it replaces PoA with PoS.

Once Gnosis goes through the Merge process, it will grow to over 100,000 from the less than 20 validators running the Blockchain.

“In the triad of scalability, decentralization and security, we focus on decentralization,” Stefan George, co-founder and chief technology officer of Gnosis, said in a statement.

Ethereum developers have said they hope the protocol’s transition to PoS will encourage others to abandon their legacy models and switch to staking for energy efficiency or centralization reasons.

“We were delighted to see that the Ethereum Consolidation was successful and our confidence has increased that we can successfully implement the Consolidation into the Gnosis Chain,” said George.

The success of Ethereum’s Merge confirmed that such a complex undertaking could be made and encouraged Gnosis Chain developers in their efforts to complete their own Merge.

At the time of this writing Gnosis (GNO) $88.87 traded at levels.

*Not investment advice.