One of the leading Ethereum software developers said the blockchain network’s much-anticipated technical upgrade known as the Merge will likely be completed a few months after June.
This comment can help to determine a timeline for completion, after Ethereum had passed another important test Monday. The network’s developers had launched a mainnet shadow fork to stress test the new upcoming software.
“No firm date yet, but we’re definitely in the final chapter of PoW on Ethereum,” Tim Beiko, a computer scientist who coordinates Ethereum developers tweeted on Tuesday, referring to the way transactions on the Ethereum network are ordered that is known as proof of work.
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
— Tim Beiko | timbeiko.eth (@TimBeiko) April 12, 2022
Continue reading: The Man Behind Ethereum Is Worried About Crypto’s Future
Merge will allow the blockchain to transition from the proof of work consensus mechanism which relies on energy-intensive, specialized computers to verify transactions and secure its network to proof-of stake. This new mechanism will allow Ether holders and stakers operate as validators in order to complete those tasks.
Beiko earlier said he wouldn’t be surprised the Merge happens in the fall but didn’t give a more specific timeline. In late March, Ether outperformed Bitcoin. A second test to upgrade was completed on March 15. Beiko didn’t immediately respond to a request for additional comment.
Merge is a network that aims to reduce carbon footprint and run the network more efficiently. However, there have been multiple delays in its implementation.
Others, such as Ethereum miners who use special computers, like repurposed graphics card or machines with app-specific integrated chip chips to protect the network and obtain subsidies in Ether through the blockchain, bet on another delay, so they are able to profit more from their mining operations.
Ether rose 2% to $3,000. This year it has declined by 18% while Bitcoin, a larger rival, has fallen around 14%.
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