The Ethereum network is nearing the merger phase of its crucial transition from proof-of-work (PoW) mining consensus to proof-of-stake (PoS). Ethereum (ETH) developers offered a perpetual merger date during a conference call on Thursday, Cointelegraph reported.
During a conference call, Ethereum core developer Tim Beiko proposed September 19 as the tentative date for the merger. The proposed target date was not objected to by the main developers. Later, Ethereum developer superphiz.eth tweeted about the merger roadmap and also clarified that the proposed target date should be seen as a roadmap rather than a hard deadline.
This merge timeline isn't final, but it's extremely exciting to see it coming together. Please regard this as a planning timeline and look out for official announcements!https://t.co/ttutBceZ21 pic.twitter.com/MY8VFOv0SI— superphiz.eth 🦇🔊🐼 (@superphiz) July 14, 2022
Ethereum's transition to PoS-based ETH 2.0 began on December 1, 2020, with the launch of Beacon Chain, ushering in Phase 0 of the transition. Phase 1 of the program was scheduled to launch in mid-2021, but was delayed until the first quarter of 2022 due to work in progress and code audit difficulties.
Earlier this June, the Sepolia Beacon Chain testnet went live, setting the stage for its Merge dress rehearsal to provide Ethereum network developers with valuable technical insights. Sepolia was eventually merged into the network on July 7. The final test of The Merge is due to take place on the Goerli network, which is scheduled for the second week of August. After its merger, the official Merge slated for the second half of September would become a priority for developers.
The transition of Ethereum to a PoS-based network is expected to reduce power consumption by 99%, and the introduction of sharding (expected in the first quarter of 2023) will make the network highly scalable and comparable to centralized payment systems.
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Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.