Reshab AgarwalEthereum proof-of-work to proof-of-stake merge is nearing, and the developers are all set up for it. The merge has already been delayed multiple times, and until it actually happens, we cannot be 100% sure of the date even now. However, the positive news for those who have been waiting for it is all the preparations for the merge are completed as per their checklist, said Tim Beiko, core developer at Ethereum.
Ethereum merge is quite near
We will finally see the shift of Ethereum from the POW to POS consensus as the developers complete the required tasks and buckle up for the much-awaited merge. They have the Merge Mainnet Readiness Checklist, which includes software implementation, testing, doc launch, analysis, and many more. Since these activities have been completed, the merge is one step close to happening. At present, we are not even a month away from the event, with the expected date being September 15.
Credits: BitPay
When the merge is implemented Ethereum mainnet will combine with the Beacon chain, and POW to POS shift will happen successfully. It is good to have so many checklists to ensure that nothing is compromised. No one would want the 2nd large cryptocurrency to break when consensus shifts.
For now, everything is on track, but the Ethereum merge is well-known for its delays. So, until there is a final announcement or it actually happens, let’s not be too sure.
Is the merge good for Ethereum?
In most cases, yes, it is a positive step for Ethereum. Shifting to the proof of stake consensus will make it more environmentally friendly, making it the main crypto choice by the authorities. Secondly, it will impact the price of Ethereum positively, and we can already see its impact as the price rallied to $2000 a few days back before tracing down to $1,800s. This is because Ethereum will become deflationary with its burning mechanism after the merge completes.
The only negative thing about the merge is that the mining business for Eth will end. ETH miners can’t mine Bitcoins because of the requirements of specialized hardware, and there is no other coin that will give as much profitability as ETH. So, miners will have to shift to some other coin or look for something else.
What are your thoughts as Ethereum developers are all set up for the merge? And do you think it will happen on the expected date? Let us know in the comments below. And, if you found our content informative, share it with your friends.
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