Ethereum Merge is on Track with the Success of the Goerli Test Merge
The Merge has successfully been implemented into Ethereum’s third
and final testnet, Goerli, after previously adding Merge support to the
testnets Sepolia and Ropsten. The Merge was added to Goerli at approximately
9:45 p.m. (EST) on Wednesday, transitioning to a full proof-of-stake (PoS)
network.
Ethereum Will ‘Reduce Energy Consumption by -200x’
The
Merge is getting closer by the day, and it’s expected to take place on
September 15-16, according to sources revealed by Ethereum developers. The new
PoS system was added to the first two major Ethereum testnets, Ropsten and
Sepolia, and the latest implementation took place on the Goerli testing
network. The upgrade happened when the network’s Terminal Total Difficulty
(TTD) surpassed 10,790,000.
The news
follows the controversy surrounding The Merge, as a few crypto community
members plan to fork the chain and create a new proof-of-work (PoW)
version of Ethereum. Vitalik Buterin recently denounced the PoW fork
concept, and the stablecoin Tether announced its intentions to support the PoS
version of ETH following The Merge.
"Tether
believes that to avoid any disruption to the community, especially when using
our tokens in (decentralized finance) projects and platforms, it’s important
that the transition to PoS is not weaponized to cause confusion and harm within
the ecosystem," the company’s blog post noted on August 9.
"For this reason, Tether will closely follow the progress and preparations
for this event and will support PoS Ethereum in line with the official
schedule," Tether added.
Pseudotheos,
a researcher from the venture capital company Variant, has stated that the
ETHW, or Ethereum PoW fork idea, is a retail trap. "The fact that people
think an ETH PoW fork will be anything more than a retail trap means
we haven’t learned anything from nearly a decade of social consensus hard
forks," Pseudotheos tweeted. "Nearly every smart contract on the
POW fork will be broken in some capacity."
Prior to The
Merge being implemented on Ethereum’s Goerli testnet, Vitalik Buterin’s father,
Dmitry Buterin, published a post on Facebook talking about the transition,
while sharing an image of him playing chess with his son. "Ethereum teams are
getting ready for the Goerli testnet merge today, the last one before the Merge
that will reduce Ethereum energy consumption by -200x. We are not the
same," Dmitry wrote.
Meanwhile, the price of Ethereum has risen 4.1% during
the last 24 hours, and a single ether is exchanged for $1,914.80 per unit.
Ethereum has increased 74.5% during the last 30 days against the USD.
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