Good news for those eagerly awaiting The Merge. The long-awaited transition of the Ethereum (ETH) network from proof-of-work (PoW) to proof-of-stake (PoS) is set to take place on September 19. While waiting for the mainnet update, the Goerli testnet should perform its own on August 11.
A date for the Ethereum update
The members of theEthereum Foundation seem to have agreed on important future dates regarding the future of the Ethereum (ETH) blockchain.
According to a recently established timetable, put forward by superphizcommunity manager of the Beacon Chainthe long-awaited update “ The Merge ” should be deployed on mainnet on September 19.
This merge timeline isn’t final, but it’s extremely exciting to see it coming together. Please regard this as a planning timeline and look out for official announcements!https://t.co/ttutBceZ21 pic.twitter.com/MY8VFOv0SI
— superphiz.eth 🦇🔊🐼 (@superphiz) July 14, 2022
“This schedule for The Merge is not final, but it is extremely exciting to see it come together. Please consider this as a planning timeline and wait for official announcements! »
As a reminder, The Merge constitutes the total Ethereum migration from proof of work (PoW) to proof of stake (PoS) provided by the Beacon Chain.
Second interesting announcement, which concerns an antecedent date: The Merge update could be applied to the Goerli testnet on August 11. This is a very important date, Goerli being the last big step before the final migration.
By the way, as specified in the screenshot, the mainnet update will be applied on the quoted date if ” Goerli’s Merge does not explode “.
Note that these dates are not engraved in stone, and that this is an indicative timetable.
👉 To understand everything: What is proof of stake or proof-of-stake (PoS)?
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The positive signs, and the not so good ones
Latest good news for the Ethereum blockchain: the 9th shadow fork, carried out on July 14, was successfully completed. A shadow fork consists of evaluating the impact of a few new features on the mainnet.
In this case, the aim was to test the Miner Extractable Value (MEV) to see how validators would be rewarded (which will replace the miners) of the network once the update has been made.
Previously, on June 9, the Ropsten testnet migrated to proof-of-stake, and it happened without any major problem. This is also very good news, as the Ropsten network is closest to Ethereum’s mainnet in structure.
On the other hand, some have expressed doubts about this new date of September 19, in particular because of the recent Gray Glacier update, serving to roll back the difficulty bomb by 100 days. Currently, the latter is postponed to October 2022.
The difficulty bomb is used to trick miners into redirecting to the validation process by making the mining difficulty extremely difficult.
Ether (ETH) shows today a course at 1263 dollarswhich is an increase of 2.2% over the last 24 hours. Significantly more than Bitcoin (BTC), which only climbed 0.2% over the same period.
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published by editions Larousse
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