Ethereum Will Deploy The Merge On September 15-16

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2022-08-11 14:07:41

Ethereum developers have estimated the exact time to deploy The Merge upgrade after a successful test on the Goerli testnet this morning.

Ethereum Will Deploy The Merge On September 15-16

As explained by CHK, The Merge is Ethereum’s most significant upgrade since its launch in 2015 and will officially end ETH mining with the current energy-intensive Proof-of-Work (PoW) mechanism, replacing it with Proof-of-Stake (PoS) model is expected to improve network scalability and be more environmentally friendly by more than 99%.

On the morning of August 11, Ethereum successfully tested the upgrade of The Merge on the Goerli testnet. This is already The Merge’s third testnet test, following Ropsten in June and Sepolia in July.

With Proof-of-Stake being applied smoothly on the Goerli testnet, The Merge has met all the necessary conditions to be able to officially launch the Ethereum mainnet.

During the Ethereum team meeting this evening, the developers identified the timelines for the launch of The Merge on Ethereum. Specifically, the upgrade will consist of two parts, Bellatrix and Paris, activated at the network’s total mining difficulty milestones, called TTD.

Accordingly, the Bellatrix upgrade, which prepares the Ethereum 2.0 Beacon Chain, will be implemented on September 6. Next, Bellatrix will merge with the existing Ethereum chain through the Paris upgrade at TTD 58750000000000000000000, which is expected to happen around September 15-16.

However, these dates are estimates based on current blockchain data and may change based on fluctuations in hashrate or network block time. Technical details on this most important upgrade in Ethereum history will be published by the development team in writing on August 23.

Even so, the Ethereum community is extremely excited by the news that The Merge has a specific time to deploy to the mainnet, with countless memes being posted tonight. Someone even took The Merge’s TTD number and registered an ENS domain name as a souvenir.

ETH price is extending a series of days of recovery thanks to The Merge momentum, reaching a peak of $ 1,942 on the evening of August 11th. This is Ethereum’s highest value since the beginning of June, and compared to the low of $881 on June 18, the world’s second-largest cryptocurrency has recovered nearly 120% in the past six weeks.

4h graph of ETH/USDT pair on Binance exchange at 11:25 PM on August 11, 2022

Synthetic CHK

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