Ethereum’s transition to proof-of-stake is closer than ever after developers agreed on a tentative date for mainnet integration.
The Ethereum merger could come sooner than planned after core developers announced a tentative merger date on September 15, which will see the blockchain transition to proof-of-stake (PoS).

The Ethereum mainnet merger came after core developers such as Tim Beiko and Prysmatic Labs co-founder Terence Tsao agreed to call a third-date developer when the terminal difficulty (TTD) score reached 587550000000000000000000.

This was confirmed in a GitHub post titled “Tentative mainnet TTD” that Beiko committed to Thursday.

While the exact date and TTD are still subject to change, the successes of various testnet integrations could be a promising sign that the Ethereum mainnet will seamlessly transition to Proof of Stake (PoS) consensus next month.

The new official schedule comes at least three days ahead of Ethereum Core developer Tim Beiko’s final forecast on September 19.

The long number provided is called Total Final Difficulty (TTD) and indicates the end of Proof of Work (PoW) and when Proof of Stake will begin. TTD is the total difficulty required to extract the last block before moving to PoS.

For the merge to be complete, a fork of Bellatrix must be executed, which will implement the software required for clients to run the consensus layer. This is scheduled to happen on September 6, about 10 days before the merger.

The Goerli testnet on Friday became the last remaining testnet to successfully implement its own migration to PoS after the merger of Sepolia on July 7 and Ropsten on June 9.

After the merger, the power consumption of the Ethereum network is expected to decrease by more than 99.99%. It will be able to fend off attacks on the network and increase scalability.

To keep PoW miners
However, there’s that ethereal noise
ETH

down cursors
1,237 dollars

Miners, many of whom depend on the revenue from Proof-of-Work block rewards, will continue to run the original Proof-of-Work version of Ethereum to maintain their earning potential.

bitcoin
BTC

down cursors
$16,818

And Chandler Gou, an ETH miner and crypto angel investor who is an outspoken advocate of Proof-of-Work (PoW) chains, is leading the charge of miners smashing the Ethereum network to create the Ethereum PoW (ETHW) chain. Guo seems to think there is enough room in the industry for two types of Ethereum, and he retweeted a number of opinions that support the idea.

To discourage miners from trying to produce more blocks, he promised to release the code needed to perform an ETH PoW fork that surpasses the bomb difficulty, a mechanism that drastically reduces the block reward. The difficulty bomb comes right before the main grid merge.

Related: Is It Stupid to Expect a Huge Increase in Ethereum Prices Before and After the Merger?

ETHW is trading at $72.5 on Poloniex, down about 7.5% in the past day. Meanwhile, ETH is up 1.5% in the last 24 hours to $1,881.54, according to CoinGecko.

Source: CoinTelegraph

LEAVE A REPLY