Vitalik Buterin believes that Ethereum Merge will happen in August
When the world is eagerly waiting for the "merge" of Ethereum from proof-of-work (PoW) to proof of stake (PoS), the co-founder Vitalik Buterin today talked about the same in the "ETH Shanghai Web 3.0 Developer Summit."
Ethereum's long-awaited merge
Ethereum co-founder Vitalik Buterin said that the team is aiming to make "Merge" happen in August. However, the event could be pushed to September or October if any potential risks come into the picture."The Ethereum Merge," one of the most awaited crypto events of 2022, is a crucial step toward developing ETH 2.0 and its shift from PoW to PoS consensus. Buterin spoke about the future of the network and the mechanics of The Merge. During the ETH Shanghai Summit, which is organized by Ethereum Shanghai and Mask Network, Buterin talked about "The Merge," set to happen on the Ropsten testnet on June 8. He said that this is "larger than any other testnet we've done before."
A large number of current test networks that use PoS consensus will switch to PoW consensus via this event. Buterin brings the good news that "The Merge" could happen by August if everything goes well with the Repsten testnet. Until then, the network will continue to use layer-2 networks like Polygon and Optimism to accommodate scalability and huge transaction volumes.
Buterin also hinted at expanding the capabilities of the Ethereum ecosystem by stating:
"I think we could benefit from having more applications than we have today."
Ropsten testnet Merge
The PoW test network will be paired with a new PoS consensus layer testnet in the Ropsten testnet Merge. It will model the happenings of Ethereum and the Beacon Chain merge and the PoS network.The research associate at investment firm Galaxy Digital, Christine Kim, said that activating "The Merge" on Ropsten will "provide valuable feedback for devs to see how their clients behave through the upgrade in a less controlled and public test network environment."
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