Ethereum is a smart contract platform that enables developers to build tokens and decentralized applications (dapps). ETH is the native currency for the Ethereum platform and also works as the transaction fees to miners on the Ethereum network. Ethereum is the pioneer for blockchain based smart contracts.
The most anticipated event in crypto space has a new tentative date and all indications are that it will happen in just under 40 days. The Merge is coming to Ethereum in September.
- New tentative schedule for The Merge on Ethereum.
- Final transition to PoS could occur between September 15 and 16.
- There is no definite date, but everything indicates that the update is very close.
After completing the last rehearsal before your official transition to participation testing, Ethereum a decentralized open-source blockchain with smart contracts functionality. is almost ready to move forward to its long-awaited update ‘The Merge‘.
The developers of Ethereum discussed potential hard bifurcation dates, or hard fork The anticipated update could be coming slightly sooner than expected, and it looks like it might. During a call with Consensus consensus is achieved when all participants of the network agree on the order and content of the blocks in the blockchain. Layer on Thursday, established that the launch of The Merge on the main grid could occur between September 15 and 16. .
According to a informs of CoinDesk During the meeting, a document was shared showing a tentative schedule, which included the dates of September 15, 16 and 20. The new schedule is slightly ahead of schedule, as the developers had previously confirmed the 19 September as a tentative deployment date.
In any case, everything seems to point to the merger of Ethereum arguably the most anticipated cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. space event of 2022, will inevitably occur next month.
The Merge: Possible Scenarios and Tentative Dates
This week’s paper provided some details on possible upgrade scenarios. CoinDesk reported that most of the developers agreed that they would try to get the updating of Bellatrix active around 6 September . Bellatrix is the name of the update that will start the process ofThe Merge and set everything in motion.
In this case, there would be a period of 14 days between the update of the Bellatrix and merging into the main network. That’s how long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. it will take before the network reaches a specific total terminal difficulty a measure of how hard it is to validate a new block on a blockchain. (TTD) which, in turn, will trigger the merger, as the media outlet explains. Tim Beiko of the Ethereum Foundation, confirmed that l TTD’s tentative mark is 58,750,000,000,000,000,000,000,000,000,000,000.
– Tim Beiko | timbeiko.eth ???? (@TimBeiko) August 11, 2022
Sin embargo esto no es definitivo. Según ese informe, otro escenario posible es que la actualización de Bellatrix take place on September 1, with the merger two weeks later, or around September 15. The developers also discussed the possibility of expediting the hashrate which would also imply that the merger could be brought forward to that date, even with Bellatrix September 6th.
For now there is no definite date, although the developers already seemed to have agreed that they don’t want the merger to happen over a weekend. A further discussion on dates and estimates is expected to happen next week, during the all-core developer call, as picked up by CoinDesk .
Ethereum is one step away from PoS
‘The Merge‘, or merging, is the name of the update for the Ethereum by which such a network a network refers to all nodes in the operation of a blockchain at any given moment in time. will abandon its current proof-of-work poW is a type of consensus algorithm that rewards validators according to the amount of computational power they have expended. (PoW) consensus mechanism for a proof-of-stake poS is a type of consensus algorithm that rewards validators according to the amount of crypto they have staked. (PoS) one. The term refers to the coupling of the PoW implementation layer of Ethereum and its PoS consensus layer, which is also known as the Beacon Chain .
Beacon Chain the PoS version of Ethereum is currently running in parallel to the main PoW-based network. It launched in December 2020, marking the beginning of the multi-stage upgrade. The eventThe Merge in September will effectively move the core business of Ethereum to your PoS chain.
- Ethereum: As The Merge approaches, one miner the term “miner” can refer to both the person doing the mining and the device that is used to mine crypto. proposes fork to conserve PoW
Discussions on the new schedule come after the execution of the final test of The Merge in the test network ( testnet an alternative blockchain used by developers for testing. ) Goerli . The milestone saw Goerli a PoW test string of Ethereum successfully merge with Beacon Chain.
This step was crucial, as it is the last trial run of theThe Merge before the final upgrade to the core network. Test networks provide developers with a test environment to try out updates and changes before making modifications to the mainnet an independent blockchain running its own network with its own technology and protocol. . Sepolia y Ropsten the other two test networks of Ethereum already successfully merged.
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- Circle reports it will only support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. Ethereum PoS version once The Merge arrives
Article by Hannah Estefania Perez / DiarioBitcoin
Imagen de Unsplash published in Canva