Bitcoin
BTC$26 889.42

1.99%

Ethereum
ETH$1 650.74

2.84%

Tether
USDT$0.999955

0.08%

Binance Coin
BNB$214.70

1.20%

XRP
XRP$0.510427

2.17%

USD Coin
USDC$1.000039

0%

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

Crypto may be ready for a new leg down
Crypto may be ready for a new leg down
Cryptocurrencies wait for a signal
Cryptocurrencies wait for a signal
What are dynamic NFTs?: Use cases and examples
What are dynamic NFTs?: Use cases and examples
Shanghai Upgrade Fires Up ETH and Altcoins
Shanghai Upgrade Fires Up ETH and Altcoins
Challenges of data accessibility in the NFT market
Challenges of data accessibility in the NFT market
Is the A.I. revolution about to pump Nvidia stocks?
Is the A.I. revolution about to pump Nvidia stocks?
Five tips for investing during a global recession
Five tips for investing during a global recession
What is NFT ticketing and how does it work?
What is NFT ticketing and how does it work?
The crypto market is cheaper than a trillion again
The crypto market is cheaper than a trillion again

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 95.6% 2 $26 889.42 1.99% 1.21% $524 310 325 162 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 90.8% 5 $1 650.74 2.84% 3.91% $198 478 152 971 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.6% 1 $0.999955 0.08% 0% $83 272 842 471 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 92% 4 $214.70 1.20% 1.50% $33 030 424 118 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 88.4% 9 $0.510427 2.17% 0.06% $27 212 086 699 XRP 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 93.2% 1 $1.000039 0% 0.01% $25 590 467 629 USDC 7 days price change
7 Lido stETH (STETH) STETH Lido stETH predictions 95.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
8 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 84.4% 24 $0.088655 3.98% 6.67% $9 014 096 765 WTRX 7 days price change
9 Cardano (ADA) ADA Cardano predictions 92.4% 6 $0.250264 2.34% 2.20% $8 791 380 177 ADA 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 93.6% 5 $0.061430 1.36% -0.17% $8 673 848 320 DOGE 7 days price change
11 Solana (SOL) SOL Solana predictions 87.2% 20 $20.19 4.78% 3.31% $8 336 099 498 SOL 7 days price change
12 TRON (TRX) TRX TRON predictions 87.2% 22 $0.087251 2.02% 4.97% $7 772 636 407 TRX 7 days price change
13 Toncoin (TON) TON Toncoin predictions 59.2% 84 $2.21 3.04% -4.14% $7 584 120 041 TON 7 days price change
14 Dai (DAI) DAI Dai predictions 93.2% 1 $0.999735 -0.01% 0.01% $5 346 471 546 DAI 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 88.4% 7 $4.07 1.85% 1.21% $5 003 217 488 DOT 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.