The merge postponed after June
Ethereum (ETH) users will have to wait a few more months to finally witness the merge of the network. In a nutshell, this major step will connect the executive layer of Ethereum — the one on which the decentralized applications (dApps) are deployed — with the consensus layer — namely the Beacon Chain, based on Proof-Of-Stake (POS).
Several times postponed, this update was to take place in June 2022. Eventually, one of the Ethereum Foundation developers, Tim Beiko, announced on Twitter that the merge will be postponed again:
“It won’t be in June, but probably in the next few months. No date set yet, but we are definitely in the final chapter of Ethereum PoW. »
However, the announcement of this postponement does not seem to be unanimous. On a Reddit forum dedicated to Ethereum miners, a mining pool operator claimed to have “examine code and run nodes on the merge testnets”. According to him, the merge cannot take place before 2023:
“We plan to actively dedicate our developers to testing the merge once it goes public and do our best to identify bugs to further delay the merge. This will make it safer. »
It would seem that Ethereum’s transition to a Proof-Of-Stake consensus is not just a technical issue, but a problem of governance.
? All about Ethereum (ETH)
The Proof-Of-Stake and Ethereum Miners
Commonly dubbed Ethereum 2.0, although officially titled Consensus Layer, Ethereum’s move from a Proof-Of-Work (PoW) consensus model to a Proof-Of-Stake model is one of the most important milestones in the history of the network.
This update is presented as the fundamental change which will put an end to the debates on the energy consumption of the network and the decentralized applications that are implemented there. Moreover, it also marks the end of Ethereum mining as we currently know it, a subject that obviously concerns minors.
Moreover, Tim Beiko’s comment on Twitter comes in response to a user who questioned him on the future of Ethereum miners, having supported the project for several years. While the transition to PoS no longer involves mining activity, these miners “Will they be left behind? “.
The head of the merge developers simply replied that he strongly advises against “to no longer invest in mining equipment now”.
? To deepen — There are only 18% of Ethers (ETH) left on exchanges
Source: Reddit
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About the Author : Lilian Aliaga
Freelance writer located between Paris and Toulouse. I want to share my passion for the world of cryptocurrencies to as many people as possible. I am also interested in technical analysis and trading.
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