cryptocurrency

The Ethereum merge event has a new launch date in September

The Ethereum merge event has a new launch date. Members of the Ethereum community have decided to set a new date for the long-awaited blockchain integration. After wrapping up the summer with fanfare, the network is expected to merge on September 19, from its current state as a Proof of Work (PoW) to Energy Efficiency proof of stake Network (PoS).

The announcement of the new date sent Ethereum up 40% over the weekend, sending it to a 10-day high, trading at $1,516,25, on Monday afternoon CET.

beacon chain manager superphiz.eth . community tweet, “This merge timeline is not final, but it is very exciting to see it coalesce. Please consider this as a timeline to plan and look for official announcements!”

Beacon Chain is a PoS version of Ethereum and is currently running in parallel with the PoW-based mainnet. It is a ledger that manages and coordinates the network of observers. Unlike Ethereum’s Mainnet, it does not process transactions or handle smart contract interactions, but can be considered the first step in Ethereum 2.0 – a massive upgrade set to revolutionize Ethereum. Ethereum network. beacon series first Launched In December 2020, a planned merger event in September will allow Ethereum to move activity to this new ledger.

Sassal.eth, an independent Ethereum educator, investor and advisor, tweeted: “Goerli, the last public testnet to run during the merger transition should do so around August 11th.”

Testnets like Goerli or Sepolia provide developers with an environment to test new updates and make changes to a blockchain network without the risk of that network crashing or causing unwanted disruptions to users.

The announcement of this new consolidation date is approaching after the testnet in the past weeks called Sepolia has also been successfully run. All Ethereum developers must agree that enough testing has been done so that the merger can be detected smoothly. The upcoming merger on September 19 will see Ethereum move into a new era, leaving behind a consensus and initiation mechanism for yet another.

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