vitalik buterin the merge
Ethereum merge

Vitalik Buterin predicts a PoS for Ethereum on September 15 thanks to Merge

After several delays, it looks like D-Day is getting closer and it seems like it’s not a drill. According to Ethereum co-founder Vitalik Buterin, Merge will launch on Ethereum in mid-September.

According to the data presented by Vitalik Buterin, based on the overall terminal difficulty and the number of hashes left to mine, he predicts that September 15 could be the date when the update called Merge will be released on Ethereum.

vitalik the merge
Source: The official Twitter account of Vitalik Buterin.

This prediction from the seen leader of Ethereum is in line with other developers who had set a deadline of September 15-16 for the full “merge” from the rose to the Proof-of-Stake, as commented by Tim Beiko during an open call of Consensus Layer. In addition, Beiko confirmed the proximity of the launch by showing the remaining difficulty target.


Source: Tim Beiko’s Twitter account

Earlier today, August 12, the first pink smart contract was completed after passing the stress of the final exam on Goerli’s tesnet.

What is the terminal difficulty level and why is it so relevant?

The Whole Terminal Issue refers to the difficulty required to extract the last block of Ethereum. At this point, pink will deactivate the Proof-of-Work and switch to the Proof-of-Stake.

While the date could theoretically change if something goes wrong, this is the clearest sign yet that Ethereum is about to move forward with its long-awaited switch to Proof-of-Stake.This historic event has become a major narrative in the crypto universe in recent weeks, and Ethereum’s token, ETH, has benefited from the pump, with its capitalization increasing by 20 billion as its price rapidly climbed.

Ethereum’s Proof-of-Stake has been in discussion since 2014, but it’s famously been delayed for years. Several key industry projects, such as Circle, Tether, Chainlink or Binance, among others, and the Ethereum community itself have largely supported the update.

ETH mining

In recent weeks, some crypto advocates have come up with a plan to fork a Proof-of-Work version of Ethereum to preserve an ecosystem for miners. TRON’s Justin Solar and prominent miner Chandler Gou are among the biggest proponents of the forking project, though their plans have yet to materialize.

In recent weeks, the cryptocurrency market has been on the rise again, and Ethereum has tended to lead the gains. It is currently 100% off its June low, when it fell below $900 in a panic caused by the catastrophic implosion of Three Arrows Capital. Today, it has surpassed $1,900 following the launch of Goerli’s test rose.

Ethereum

ETH is currently trading just below $1,900, bringing Ethereum’s market capitalization to $227.3 billion. Its dominance in the international crypto-market is 18.8%.

It’s clear that the most talked about event of the year in the crypto-industry already has a launch date, something that years ago seemed far away seems to be becoming a reality. The crypto community will soon see the effects. ETH purchases have begun to sprout in anticipation of Merge’s opening, even the possibility of institutional investment, it may be Ethereum’s turn to lead the crypto-market for a while, leaving Bitcoin to go its own way.

Leave a Reply

Your email address will not be published.

back to top