Ethereum Price Going up After The Announcement

By July 31, 2022Ethereum
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  • The Merge will take place shortly, and sources indicate that the engineers are nearing the crucial last testing stage before the important event.
  • The date will fall between August 6 and August 12.
  • On obsolete testnets, the developers have finished several devnets, mergers, and shadow forks.

The Date Announcement

The transition from the Proof-of-Work (PoW) to the Proof-of-Stake algorithm has been anticipated by the Ethereum community. Fortunately, the Merge will take place shortly, and sources indicate that the engineers are nearing the crucial last testing stage before the important event. These specifics were revealed on July 28 by Tim Beiko, the Ethereum project’s chief developer. He claims that the Goerli testnet, a near replica of the Ethereum mainnet, would be used for the testnet changeover.

The date will fall between August 6 and August 12. This version is referred to as Prator. Paris will be the name of the network improvement, but Bellatrix will better prepare Prater for the Goerl Merge. Beiko claims that the Bellatrix update will take place on August 4. The lead developer said that validators and node operators should go through the procedure to adequately prepare for the mainnet switch to PoS.

Community Statements Given by Ethereum

The network has to finish one more testnet, according to the material that has been made public. On obsolete testnets, the developers have finished several devnets, mergers, and shadow forks. For instance, the engineers finished testing the MEV boost function at the beginning of July. The announcement’s principal developer noted that node operators must simultaneously update their clients for the execution and consensus layers. However, there is currently nothing can be done for Ethereum holders and stakers. The testnet users and node administrators must take action.

The community is already aware that the important Merge will occur on September 19, as the devs had previously said. But the date can be advanced one more if there is a problem with the Goerli testing phase.

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