The final test merge was performed on the Goerli network. Developers are eliminating a potentially dangerous malfunction before The Merge. And Vitalik Buterin confirmed that Ethereum’s transition to Proof-of-Stake will be implemented on September 15.
Finally, the specifics! Now we don’t have to guess when The Merge (the complete transition of Ethereum to Proof-of-Stake (PoS)) will happen. So far, Ethereum works on Proof-of-Work (PoW), and PoS is carried out using the Beacon Chain.
Vitalik Buterin– the founder of Ethereum, recently announced (almost) the exact date when The Merge will happen. This (most likely) will take place on September 15.
Why is the date not accurate? In order to stop PoW, Ethereum developers have limited terminal total difficulty to 58750000000000000000000. The Merge will happen when the last hash in PoW is calculated. This will happen around September 15th, but the date may vary depending on the Ethereum hashrate.
As we wrote earlier, the Goerli network became the last test network in which the test merge will happen. On August 11, a successful transition from PoW to PoS was implemented on the Goerli network. This event was the final successful test of The Merge. Now all that remains is to transfer Ethereum to PoS .
But in order for everything to go smoothly, Ethereum developers need to work out potentially dangerous malfunctions. One of the potential hazards may occur in MEV-Boost. What is it? The answer to this question rests on the website of the creators of this software:
“MEV-Boost is an implementation of proposer-builder separation (PBS) built by Flashbots for proof of stake Ethereum. Validators running MEV-Boost maximize their staking reward by selling their blockspace to an open market while protecting Ethereum decentralization. It is estimated that validators running MEV-Boost can increase their staking rewards by over 60%. MEV-Boost is free, open-source, neutral software built with love, for the community.”
Simply put, MEV-Boost is a tool that helps validators benefit greatly. But, what can go wrong with it? If an error occurs in MEV-Boost, it will cause the PoS to malfunction. A failure in PoS will lead to problems in The Merge. Developers are already solving this problem. They recently discussed it on Consensus Layer Call #92.
And now “all hands on deck”! There is no way back. The process is running. “The Merge mainnet sequence is engaged.”This is what the developers stated in the Ethereum blog.
We hope that this time The Merge will not be delayed. To find out what price ETH will have after The Merge, contact wizards and fortune tellers. We continue to observe.