Ethereum’s “merge” upgrade will come later than June

OOne of the leading Ethereum software developers said that the much-anticipated technical upgrade of the blockchain network, known as a merge, will likely be completed a few months after June.

The comment helps set a possible timeline for completion after Ethereum passed another major test on Monday. The developers of the network had started a mainnet shadow fork to stress test the new upcoming software.

“No set date yet, but we are definitely in the final chapter of PoW on Ethereum,” tweeted Tim Beiko, a computer scientist who coordinates Ethereum developers, on Tuesday, referring to the way transactions are processed on the Ethereum network are classified, which are known as proof of work.

Continue reading: The man behind Ethereum is concerned about the future of crypto

The merger will allow the blockchain to move from the proof-of-work consensus mechanism, which uses energy-intensive specialized computers to validate transactions and secure the network, to proof-of-stake. The new mechanism allows ether holders or players to act as validators to perform these tasks.

Beiko previously said he wouldn’t be surprised the merger will take place in the fall, but didn’t give a more specific timeline. Ether outperformed Bitcoin in late March when another test for the March 15 upgrade was conducted. Beiko did not immediately respond to a request for additional comment.

The Merge, which aims to make the network run more efficiently and reduce its carbon footprint, has experienced several delays since its launch.

Some Ethereum miners, using specialized computers like repurposed graphics cards or machines with application-specific integrated chips to secure the network and receive subsidies in ether from the blockchain, are counting on another delay so they have more time to make profits their mining operations.

Ether is up around 2% on Wednesday to around $3,000. It’s down about 18% this year, while larger rival Bitcoin is down about 14%.

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https://time.com/6166507/ethereum-merge-upgrade/ Ethereum’s “merge” upgrade will come later than June

Justin Scacco

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