Despite multiple delays, the Merge could finally happen in August, as heard in a recent press conference.
Most Important Upgrade for Ethereum
After months of delays, Ethereum is headed for a major milestone in the testing phase before the Merge, now that a date has been set.
Ethereum DevOps engineer Parathi Jayanathi added a pull request for the Ropsten testnet Merge configuration code on May 16, according to Ethereum’s Merge testnet pages on GitHub. Ropsten is a testnet eith much expectation and anticipation for the Ethereum network.
Even though it is deprecated now, it is considered the closest replication of the Ethereum mainnet since the architecture and infrastructure of the testnet are highly similar. The deployment of the Merge on the Ropsten testnet on June 8 will be one of the most important testing grounds for the reliability of the Merge.
“The Merge is by far the most complex upgrade we’ve ever planned for Ethereum. Teams and individual contributors have been working tirelessly for over a year now, and the finish line is finally in sight,” mentioned Tim Beiko, a core developer at the Ethereum Foundation, about the Merge in the latest AllCoreDevs Update. “While everyone is excited to see Ethereum transition to proof-of-stake, this is not the time to cut corners: ensuring a safe and seamless transition for Ethereum users and the rich ecosystem built on the network is our #1 priority. We’re almost there 😁!”
As previously reported by BSC News, Beiko revealed on December 20 last year that the network has launched the Kintsugi public testnet. Kintsugi was the first proof-of-stake (PoS) public testnet launched on the blockchain network. Furthermore, it marked the first step in the testing process, working towards the Merge.
Transition to the Merge
The Merge will serve the final moment when the Ethereum blockchain goes from being a combination of a PoW and PoS blockchain network to a fully PoS network. It entails that the current Ethereum mainnet will merge with the beacon PoS system. Previously, it was said that the network would be renamed to ‘Ethereum 2.0,’ but it was announced last January that the network has been renamed to the ‘Consensus Layer’ while Eth1 will be known as the ‘Execution Layer.’
The Merge will also bring about an innovation known as data sharding, which involves spitting a database horizontally to spread the load more evenly across the ecosystem. Specific to Ethereum, sharding will eventually reduce the network’s congestion and increase the transactions per second by creating new chains, called ‘Shards.’ This process of deploying shard chains was previously referred to as “the docking” by the Ethereum development team.
The conversion of Ethereum to a completely PoS network could reduce the network’s energy consumption by up to 99.95%. This is a critical aspect for the network and its community considering the rising energy concerns surrounding Proof-of-Work (PoW) networks.
The latest update from the AllCoreDevs blog further revealed that the developer team now has robust merge implementations across all Ethereum clients like Geth, Nethermind, Besu, Erigon, and OpenEthereum. The testing process now only requires three prerequisites to be fulfilled before the Merge, as listed below:
A few Mainnet Shadow Forks without any issues.
Clients passing through various Merge testing suites.
Smooth deployments of the Merge across existing public testnets like Kintsugi and Ropsten.
The timelines for the finality of the Merge have been inaccurate and vague in the past. However, the Twitter handle of reputed blockchain podcast Bankless revealed on May 20 that Justin Drake, a Researcher at Ethereum, said that the Merge could happen by August. Drake expressed a strong desire to make this transition before the “difficulty bomb in August.” This revelation was made at Blockworks’ ‘Permissionless’ conference that took place between May 17 and May 19.
What is Ethereum:
Ethereum is the most utilized blockchain network within the Decentralized Finance (DeFi) markets due to its smart contract functionality for developers to deploy. Ethereum was founded back in 2015 by a team of developers that included Vitalik Buterin and the founder of Polkadot, Gavin Wood. After the inclusion of the smart contract functionality, Ethereum went on to become the most popular network for the deployment of Decentralized Applications (dApps) and currently has a total value locked (TVL) of $92.74 billion, as per data from DeFiLlama.
Find more about Ethereum here:
Website | Twitter | Documentation | Whitepaper | Reddit | Discord | Youtube | GitHub | Ethereum Foundation Blog |
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
