Not only the leading altcoin Ethereum (ETH) developers and investors, the entire cryptocurrency market is focused on this date. Vitalik Buterin has announced a revised possible date for the highly anticipated Merge upgrade.
The cryptocurrency market is waiting for this date!
In a tweet published on August 12, Vitalik Buterin stated that the developers are fixing the remaining hash count. Therefore, the transition is highly likely to occur around September 15. Ethereum developers had previously predicted that the transition to the Proof of Stake (PoS) mechanism could happen on September 19. Buterin added that although the developers set the cumulative terminal difficulty to be 5875000000000000000000000, the exact migration date depends specifically on the hash rate.
Ethereum TTD chart / Source: bordel.wtfEthereum co-founder Vitalik Buterin said:
This means that the Ethereum PoW network now has a (roughly) fixed number of hashes left for me. The exact date depends on the hash rate. However, bordel.wtf predicts that Merge will occur around September 15.
ETH team successfully rehearsed Merge
As you follow on Kriptokoin.com, Ethereum developers successfully implemented the third and final testnet for Merge on August 10. It is worth noting that this is really important. Described as ‘Goerli’, the upgrade is considered a dress rehearsal of Merge. Meanwhile, with the upgrade, Ethereum is trying to eliminate mining from the network. Even so, it’s worth noting that several players in the Blockchain are opposed to the upgrade, speculating that they might opt for a fork to maintain their Proof of Work (PoW) status.
However, Vitalik Buterin advised miners to switch to other relevant ecosystems such as Ethereum Classic (ETC). Also, Buterin says that a fork will not significantly harm the Ethereum ecosystem. At the same time, f2Pool, Ethereum’s second largest mining pool, suggested that the final decision to support the Merge upgrade is up to the mining community. Everyone involved in the cryptocurrency market in general considers the Merge upgrade monumental to Ethereum. Meanwhile, analysts are predicting a bullish outlook for the second-ranked coin.
The Merge upgrade has been the most important catalyst for Ethereum in the last month. The leading altcoin has gained more than 15% in the past week, according to CoinMarketCap data. In the last month, it has gained approximately 70% in value. Meanwhile, Ethereum is trading just under $2,000 at press time. Ethereum, on the other hand, is 60% off from its all-time high of $4.9k.
Ethereum 1-month price chart / Source: CoinMarketCap
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