Ethereum is on the cusp of adopting a Proof of Stake (PoS) consensus mechanism. We have entered the final phase of “The Merge”, the fusion of Ethereum’s execution and consensus layers. For details, continue reading Kriptokoin.com.
Ethereum started working on post-merge upgrades
According to a post from Ethereum core developer Tim Beiko, the Kiln Testnet will be the last new public testnet to try consolidation. In addition, Tim Beiko stated that Kiln Testnet is being followed as it progresses step by step. Many projects are being tested on Testnet, including Kurtosis, Tenderly, Lido, Uniswap, EthStaker, Infura, and Blockdaemon, with developers standing by to fix any bugs.
“Our main priority remains ‘Integration’ with a renewed focus on testing,” said Tim Beiko. is doing.
While there is no date for when all the glitches will be resolved, the long-delayed difficulty bomb will be implemented soon. Tim Beiko predicts that the impact of the upgrade, which will make Ethereum mining less rewarding, will start to be felt from June.
Meanwhile, Ethereum’s developers are already exploring the post ‘Merge’ era for Blockchain. Tim Beiko emphasized that the Shanghai Upgrade work started in the background. Describing this as “one of the biggest upgrades to date”, he noted that it will bring three major changes to Ethereum that will encompass both the execution and consensus layer.
These changes, which include EVM upgrades, Beacon Chain Withdrawals and L2 Fee Discounts, will mark the beginning of Ethereum’s journey towards greater scalability and lower transaction fees. Other minor changes from Ethereum Improvement Proposals (EIPs) being worked on will also be packaged in Shanghai. Additionally, the ecosystem is ready to launch Protocol Guild, an initiative to ‘provide token-based compensation to client developers and researchers’.
ETH price gains support from rising expectation
The merger has become one of the centers of interest in the crypto market. Google Trends data shows that searches for the term “Ethereum merge” are currently at an all-time high.
With all the excitement around the merger, it’s no surprise that the Ethereum price is going up. Last month, ETH rose 33.4%. At the time of writing, it was trading around $3,121, down 0.62% on a daily basis.
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