The merge of the Ethereum blockchain is perhaps the most significant event in the crypto industry this year. After this merge, Ethereum will be based on the proof-of-stake consensus algorithm rather than the proof-of-work consensus algorithm. With the successful rehearsal merge of Ethereum’s Goerli testnet, the mainnet merge is closer than ever.
It was reported that the expected date of the merge is September 19. But recent developments suggest that it might come sooner. During a developer call, several core developers including Tim Beiko and Terence Tsao confirmed that the mainnet merge can occur when the Total Terminal Difficulty (TTD) hits 58750000000000000000000. It was also confirmed by a GitHub post.
Total Terminal Difficulty marks the end of PoW and the beginning of PoS. The TTD is the difficulty required to mine the final block before transitioning to PoS. According to developers, there is a high probability that this might happen by September 15. But nothing is for sure until the merge is in client release. There can be last-minute changes due to any unexpected circumstances.
Ethereum On the Charge!
Ethereum is marking the beginning of a new era. There is only a month or so left in the biggest breakthrough in the blockchain space. However, before the occurrence of the actual merge, the Bellatrix fork will be performed. It will apply the needed software to run the consensus layer and is scheduled to happen 10 days prior to the mainnet merger.
Tentative Mainnet Bellatrix fork slot/time 👇
Epoch: 144896
Time: 9/6/2022, 11:34:47 AM (UTC)— terence.eth (@terencechain) August 11, 2022
Moreover, Ethereum has successfully conducted the transition of its three testnets, as Goerli transitioned on Thursday. Sepolia merged on July 7 and Ropsten merged on June 9. It is expected that the energy consumption of Ethereum’s network will go down by over 99.99% after the merge. Also, the network will be able to avoid attacks, as the scalability will increase as well.
On the other hand, it is expected the existing ETH miners will persist with the original PoW version of Ethereum. They earn income from the PoW block mining rewards. They will continue with the same version to maintain their earnings. Many experts believe that there is enough room for two types of Ethereum to exist in the industry.
Nonetheless, the developments of the Ethereum blockchain have enhanced the performance of its native token in the market. It has posted a two-month high in the market. The coin is trading around the $1,900 mark. The mainnet merge is expected to have a further positive impact on the token.
