The second merging test is likely to take place on Saturday, according to a tweet by Barcelona-based Ethereum 2.0 core developer “Dapplion.”
The merge’s first rehearsal took place in April of this year. Developers used a so-called “shadow fork” to test their ideas before making the full switch to proof-of-stake.
The next phase will shed further light on the timeframe for the much-anticipated shift.
The next phase will shed further light on the timeframe for the much-anticipated shift.
The major technical upgrade was expected to take place in June. The integration, however, will take “a few months after,” according to Ethereum engineer Tim Beiko.
At this point, it appears that the second-largest blockchain will be able to switch to the proof-of-stake consensus mechanism in the fall, although no exact date has been set. Beiko did clarify, though, that Ethereum was in the “last chapter” of proof-of-work.
In early December 2020, the Beacon Chain, the backbone of Ethereum’s proof-of-stake system, was released. The brand-new blockchain allowed ETH holders to stake their coins in ETH2.
However, until the Beacon Chain joins with the main proof-of-work chain, ETH2 cannot be converted back.
After switching to proof-of-stake, Ethereum is projected to significantly cut its carbon footprint. Its power usage is predicted to shrink by 99.95 percent.
The improvement could be critical for Ethereum, since cryptocurrencies with favorable environmental, social, and governance (ESG) features are expected to rise in popularity.
Aside from reduced energy use, abandoning mining will also allow Ethereum to slash gas fees.
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