Ethereum developers have agreed on a timetable for the transition to PoS. Cryptocurrency up 12%

Leading Ethereum developers during the next call preliminarily approved the migration of the blockchain tothe Proof-of-Stake (PoS) consensus algorithm as of September 19, 2022.

The final date will largely depend on the transition to PoS of the Goerli testnet, scheduled for August 11th.

Two weeks before the «merger» in the main network (The Merge) they activate the Bellatrix upgrade.

The Merge: what to expect from the biggest update of Ethereum

The Ethereum team video conference took place afterimplementation in the mainnet of the ninth shadow hard fork. The testing is entirely dedicated to blocking the MEV feature, which allows PoW miners to earn additional income by reordering transactions.

The developers noted that the fork took place earlierscheduled time due to the incorrect definition of TTD - the cumulative complexity of the network. During the update, some clients were also out of sync. These software issues are expected to be fixed within the next month.

In May, team representatives predictedholding The Merge in August. Ethereum co-founder Vitalik Buterin also called this month the most likely time to make the switch. However, he allowed the event to be postponed to September-October in case of "potential risks".

Then the developers noted that they consider the mostIt is acceptable for the main network to switch to the PoS algorithm before activating the «difficulty bomb». This is a mechanism that exponentially increases the difficulty of mining on PoW consensus. On June 30, as a result of the Gray Glacier hard fork, the implementation of the code was delayed by 700,000 blocks, or approximately until the beginning of October.

Against the backdrop of a shadow hard fork and the approval of newterms for The Merge, the price of Ethereum increased by 12.1% per day (CoinGecko). At the time of writing, the asset is trading above the $1,200 level. Bitcoin over this period has risen in price by only 5.6%.

Data: CoinGecko.

Recall that in early June, the developers successfully transferred the Ropsten testnet to PoS. Despite this, it will be closed, like the Kiln and Rinkeby testnets, after the mainnet migration to the new algorithm.

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