Ethereum will be soon shifting its platform to proof-of-stake (PoS) mode and has set a tentative date of September 19 for the rollout. Ethereum engineers are working overtime to effect this merge and it will come after one more testnet- the last before the merge- is transitioned to PoS.
The start of the deployment of the merge exercise will start on the Goerli testnet in the second week of August. This will be followed by the deployment of the Bellatrix update in early-September. The full roll out of the Ethereum Merge will happen two weeks later. The rollout of the merge is in line with the time frame suggested by founder Vitalik Buterin earlier this year.
Goerli Merge Success Crucial For September Roll Out Of The Ethereum Merge
The success of the Ethereum Merge operation will be dependent on the smooth execution of the Goerli merge. The earlier testnets have been executed successfully but it was not without hiccups. Therefore Ethereum engineers will be on their toes and only after the successful Goerli merge can they expect a smooth merge changeover.
Recently a shadow fork on the mainnet led to deactivation of 20% of nodes, post the rollout and it raised fears that the stability of the platform could be affected post merge operations. In May, Ethereum prices had tanked after the Beacon chain underwent a 7-block deep reorganization.
Ethereum Prices will Surge Post The Ethereum Merge?
ETH community is eagerly waiting for the Ethereum Merge operation to conclude successfully and the transformation to proof-of-stake (PoS) mode is concluded. The merge is sure to surge the values of ETH . Additionally rewards for staking will make the ETH much like a debt instrument, increasing its institutional appeal.
However a lot will depend upon the smooth execution of the merge software update. The shift to POS will be one of the biggest update in the history of the Blockchain since 2016 hard fork and creation of Ethereum Classic.