The Merge is the most significant upgrade in Ethereum history. When the process is done, Ethereum will officially replace ETH mining Proof-of-Work (PoW) mechanism with Proof-of-Stake (PoS) mechanism to improve network scalability and be more environment friendly by more than 99%.
Ethereum successfully completed its third and final testnet merger Goerli on Wednesday, marking the blockchain’s last major milestone before transitioning to an energy-efficient proof-of-stake (PoS) model. Previously, Ethereum deployed The Merge testnet on Ropsten in June and Sepolia in July.
With Proof-of-Stake being run smoothly, all three testnet merges are complete, now that Ethereum is one step closer to the mainnet upgrade merge.
A recent call among Ethereum developers showed several scenarios for when the Merge on the Ethereum mainnet might occur. Likely dates include September 15, 16, or 20. The process will be divided into two phases, Bellatrix and Paris, activated at the network’s Terminal Total Difficulty (TTD).
Accordingly, the Bellatrix upgrade, prepared for the Ethereum 2.0 Beacon Chain, will live on September 6. Then Bellatrix will merge with the existing Ethereum chain through the Paris upgrade at a TTD of 58750000000000000000000, which is expected to happen around September 15-16.
However, these are predictions based on current blockchain data. The exact dates may change based on fluctuations in hashrate or network block time. Technical details on The Merge upgrade will be published by the development team in a document published on August 23.
ETH price is rocketing thanks to The Merge, reaching a peak of $ 1,942 on August 11th. This is Ethereum’s highest value since the beginning of June and compared to the low of $881 on June 18, the world’s second-largest cryptocurrency has recovered nearly 120% in the past six weeks.
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