The Ethereum merge from a proof-of-work consensus to proof-of-stake is set to take place around the 15-16th of September this year. The merge will bring many benefits to the Ethereum blockchain including drastically low transaction fees and 99.9% in energy reduction.
- The Ethereum developers had a Consensus Layer Call yesterday in which the merge was discussed. The developers predict that it will occur in mid-September, later being confirmed by Ethereum co-founder, Vitalik Buterin, that it will occur once a hash rate of 58750000000000000000000 is reached.
- Hash rate defines how hard it is to mine a block using proof-of-work (PoW) on Ethereum, once it passes this point the merge into proof-of-stake (PoS) will occur on the network. The hash rate isn’t a fixed increase, so the date is the best prediction we have – it could be a few days more or less.
- The final merge on Ethereums Goerli testnet also occurred yesterday, this was the third and final testnet to merge to PoS. After this there is the “Bellatrix”, occurring on September 6th which prepares the mainnet for the merge before the final step, “Paris” this is when the hash rate is finally reached.
- The announcement of the merge taking place in September comes after it was originally planned to merge in August, although there were problems encountered pushing it back to the current date.
See Related: The Misconceptions With The Ethereum Merge
At the time of writing Ethereum is trading at US$1,886 – up almost 100% since June.
