Ethereum core developer Tim Beiko said yesterday that the highly anticipated transition from its current proof-of-work (PoW) mechanism to a proof-of-stake (PoS) consensus algorithm would happen between August and November and that only a catastrophic event or failure will prevent it from happening this year.
<h2>Timeline Revealed for Ethereum Merge</h2>
In a Twitter conversation between Ethereum developer and researcher Bed Edgington and core developer Tim Beiko, it was revealed that the highly-anticipated "merge" could likely happen between August to November.

https://twitter.com/TimBeiko/status/1535375676848558081
<blockquote><em>“If we found 0 more bugs, we can probably merge in a couple months. I just don’t think that’s realistic. Also don’t think it’s likely we will find 10, or even 5?, more severe issues. Confidence shrinks exponentially within that range, though,”</em> Beiko added in his reply.</blockquote>
However, Edgington does not seem pleased with the estimate, which he claimed is “way too rough” for any planning.
<h2>Most Significant Upgrade in Ethereum's History</h2>
Just a few days ago, Ethereum’s Ropsten public testnet, which allows for blockchain development testing before deployment on the mainnet, went through "<a href="https://www.cryptoknowmics.com/news/ropsten-testnet-completes-merge-to-proof-of-stake" target="_blank" rel="noopener">the Merge</a>". This followed the launch of its <a href="https://ethereum.org/en/upgrades/beacon-chain/" target="_blank" rel="nofollow noopener">beacon chain</a> on May 30.

The Merge is the most significant upgrade in Ethereum’s history. The transition to Proof-of-Stake consensus will usher in a 99% reduction in the network’s energy consumption alongside a 90% drop in ETH issuance to validators.

Combined with base transaction fees being burned since the introduction of EIP-1559 last August, the upgrade is expected to result in more ETH being destroyed than created, making Ether (ETH) increasingly scarce over time.

Ethereum Merge Will Happen Between August-November, Says Core Developer

Ethereum core developer Tim Beiko said yesterday that the highly anticipated merge would happen between August and November.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Ethereum Merge Will Happen Between August-November, Says Core Developer

Top Picks