More On: eth
Who is worse for your wealth, politicians or billionaires?
Why Jim Cramer suggests purchasing bitcoin or ethereum, with one exception
Official death certificate revealed Queen Elizabeth II’s cause of death
After losing, the women's basketball team from Mali gets into a fight
Meghan Markle didn't know how to act around the Crown Jewels
Developers have set a date for the Merge to go live on the testnet following last month's dismay over delays.
In a key development for Ethereum, the Ropsten public testnet is slated to "Merge" the next month.
The "Merge" refers to combining the Proof-of-Work (PoW) chain with the Proof-of-Stake (PoS) scheme of the beacon chain. It signifies the end of PoW on Ethereum and ushers in a future that is more scalable, sustainable, and environmentally benign.
The release is expected for June 8, according to Core Dev @preston vanloon.
Ropsten testnet is getting merged on June 8!
— prestonvanloon.eth @ Permissionless (@preston_vanloon) May 18, 2022
Merging Ropsten is a huge testing milestone towards Ethereum's mainnet merge later this year. 🎉 https://t.co/X7eLIMA72g
Ethereum
Previously, Ethereum developers stated that the mainnet Merge would occur in June, however in April, developer Tim Beiko confirmed on Twitter that the upgrade will not occur until late 2022.
“It won’t be June, but likely in the few months after. No firm date yet, but we’re definitely in the final chapter of PoW on Ethereum.”
The Ethereum community debated Beiko's announcement in regards to when the Merge will occur. On the basis of a code review and the execution of test nodes, an anonymous pool operator estimated early 2023.
Others, including Evan Van Ness, the founder of Week in Ethereum News, stated that the Merge was off schedule as opposed to postponed. Van Ness stated that transitioning to PoS needs coordination with "the bomb," which is infamously unpredictable owing to the variable nature of hashrate and price.
The bomb refers to a procedure that makes mining increasingly difficult and unprofitable over time. It is considered a transitional phase to wean miners off the network so that validators can take their place under a PoS scheme.
All systems go
Van Ness emphasized that the delay, which is not a delay, will be several weeks, not early 2023 as had been expected by some. Given that the testnet Merge is slated to take place on June 8, Van Ness's prediction has been validated.
The testnet, according to Van Loon, is a key step toward the mainnet Merge later this year.
"The Ropsten merge is a significant testing milestone leading up to the Ethereum mainnet merge later this year."
Unless serious issues are discovered, the Merge will be released in Q3/Q4. However, no specific date is available at this moment.
** Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of USA GAG nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
