Bitcoin
BTC$23 111.56

1.40%

Ethereum
ETH$1 597.71

1.63%

Tether
USDT$1.000214

0%

Binance Coin
BNB$307.54

1.77%

USD Coin
USDC$0.999961

-0.01%

XRP
XRP$0.411374

1.67%

ETH devs move up the date for Merge


12 Aug 2022

#Ethereum

Ethereum’s transition to proof-of-stake is inching ever closer after developers agreed to a tentative date for the mainnet Merge. The Ethereum Merge may be coming sooner than planned, after core developers announced a tentative Merge date of Sept. 15, which will see the blockchain transition to proof-of-stake (PoS).

The Ethereum mainnet Merge date came into view after core developers such as Tim Beiko and Prysmatic Labs co-founder Terence Tsao agreed in a Thursda developer call it would be when Total Terminal Difficulty (TTD) hits 58750000000000000000000. This was confirmed in a GitHub post titled “Tentative mainnet TTD,” which was committed to by Beiko on Thursday. 

While the exact date and TTD could still be changed, the successes of the various testnet merges could be a promising sign that the Ethereum mainnet will transition to proof-of-stake (PoS) consensus next month without issue. The new official schedule is at least three days earlier than Ethereum core developer Tim Beiko’s last prediction of Sep. 19.

The lengthy number provided is referred to as the Total Terminal Difficulty (TTD), specifying the end of proof-of-work (PoW) and when proof-of-stake will begin. The TTD is the total difficulty required for the final block that will be mined before the transition to PoS. Before the Merge can be completed, the Bellatrix fork must be performed, which will implement the software needed for clients to run the consensus layer. This is scheduled to happen on Sep. 6, roughly 10 days before the Merge.

On Friday, the Goerli testnet became the last remaining testnet to successfully perform its own transition to PoS, following the Sepolia merge on July 7 and Ropsten on June 9.

After the Merge, the Ethereum network’s energy consumption is expected to go down by more than 99.99%. It will be able to stave off attacks on the network and scalability will improve.

PoW miners to hold on

However, there are rumblings that Ether (ETH) miners, many of whom rely on the income generated from PoW block rewards, will continue running the original PoW version of Ethereum in order to maintain their earning potential. Bitcoin (BTC) and ETH miner and crypto angel investor Chandler Guo, an obvious proponent of PoW chains, is leading the charge for miners to fork the Ethereum network to create an Ethereum PoW (ETHW) chain. Guo seems to think that there is enough room in the industry for two types of Ethereum to exist and has retweeted a series of opinions supporting the notion.

He has vowed to release the code needed to perform an ETH PoW fork that bypasses the difficulty bomb, which is a mechanism that significantly reduces the block reward for miners to disincentivize them from attempting to produce any more blocks. The difficulty bomb will immediately precede the mainnet merge.

ETHW is trading about 7.5% down over the past day at $72.5 on Poloniex. Meanwhile, ETH has gained 1.5% over the past 24 hours to $1,881.54, according to CoinGecko.


Related

A beginner’s guide to NBA Top Shot NFTs
A beginner’s guide to NBA Top Shot NFTs
Soaring growth of Ethereum layer-2 networks set to continue in 2023
Soaring growth of Ethereum layer-2 networks set to continue in 2023
Five tips for investing during a global recession
Five tips for investing during a global recession
Redeeming physical NFTs: Easier said than done?
Redeeming physical NFTs: Easier said than done?
The crypto market in retreat
The crypto market in retreat
Thanks to Ethereum,
Thanks to Ethereum, "altcoin" is no longer a slur
NFT rides shotgun as Red Bull Racing closes out F1 season
NFT rides shotgun as Red Bull Racing closes out F1 season
Ether staking withdrawal schedule removal faces harsh criticism
Ether staking withdrawal schedule removal faces harsh criticism
NFTs are the key to turning passive fandom into an active community
NFTs are the key to turning passive fandom into an active community

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 58% 88 $23 111.56 1.40% 2.46% $445 467 385 928 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 58.8% 85 $1 597.71 1.63% -3.12% $195 518 478 203 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000214 0% 0% $67 518 894 139 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 64.8% 72 $307.54 1.77% 1.44% $48 561 092 766 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 92% 1 $0.999961 -0.01% 0.02% $43 079 802 564 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 67.2% 74 $0.411374 1.67% 0.42% $20 899 274 392 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 93.2% 1 $0.999970 -0.02% 0% $15 797 945 581 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 60.8% 79 $0.389742 4.62% 8.05% $13 479 166 661 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 61.6% 75 $0.087530 3.33% 2.02% $11 612 632 457 DOGE 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 90.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 62% 78 $1.15 6.65% 12.37% $10 012 288 547 MATIC 7 days price change
12 Solana (SOL) SOL Solana predictions 56% 90 $24.46 2.79% -1.52% $9 087 126 673 SOL 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 57.2% 87 $6.59 3.51% 6.21% $7 583 086 372 DOT 7 days price change
14 Avalanche (AVAX) AVAX Avalanche predictions 54.4% 92 $20.95 17.58% 20.92% $6 593 829 036 AVAX 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 59.6% 84 $0.000012 3.13% -2.02% $6 476 713 621 SHIB 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2023 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.