Sunday 7 August 2022
Home / Algorithmic Stablecoins / Ethereum dev confirms Goerli merger date, the final update before the Merge

Ethereum dev confirms Goerli merger date, the final update before the Merge

The Ethereum mainnet is just one testnet merger away from officially transitioning to a proof-of-stake (PoS) blockchain. After multiple shadow forks and testnet merges, the years-long journey has reached the final stage with the announcement of the final testnet merge to the Beacon chain.

The transition to PoS began in December 2020 with the launch of the Beacon chain, starting Phase 0 of the three-phase process. Phase 1, the current phase, was slated to be completed by 2021. However, due to numerous delays and unfinished work on the developers’ end, it is expected to be completed by the third week of September. The final phase of the transition is slated to be completed by late 2023.

Lead Ethereum developer Tim Beiko took to Twitter to announce the details of the Goerli testnet transition. The Goreli testnet will merge with the Beacon Chain called Prater and the combined Goerli/Prater network will retain the Goerli name post-merge.

The testnet merger will be completed in two phases starting on Aug. 4 with the Bellatrix upgrade on the consensus layer. The Bellatrix upgrade will be triggered by the epoch height of 112260.

Ethereum’s PoS network progresses in epochs instead of blocks, where one epoch is a bundle of up to 32 blocks.

The second phase of the upgrade will be called Paris, where the execution layer will transition from proof-of-work (PoW) to proof-of-stake. This phase is expected to be completed between August 6–12. The Paris upgrade will be triggered by a specific Terminal Total Difficulty (TTD) of 10790000. Once the execution layer crosses the threshold TTD, the next block will be solely produced by a PoS validator.

The official announcement noted that the upcoming Goerli merge will be different from the early testnet integration since the node operators need to update both their consensus layer and execution layer clients in tandem, rather than just one of the two. The developer team also attached numerous client releases that support the testnet Merge.

Related: Ethereum options data show pro traders ready to go long into ETH’s Merge

The upcoming final testnet merge will only impact the node operators and testnet participants, Ether (ETH) holders and stakers won’t have to make any changes from their end. The testnet merge will be the final rehearsal before the Ethereum mainnet officially merges with the Beacon chain on Sept. 19. However, the perpetual Merge date could see a change depending on the outcome of the Goerli test net.

The PoS transition of the Ethereum network is being slated as the biggest upgrade for the blockchain network since its inception. The upgrade is focused on increasing scalability through the introduction of sharding and reducing high transaction costs. However, most of the scalability features are expected to be integrated after the completion of the final phase of the transition, which is expected by the second half of 2023.

About Sean Patterson

Check Also

Cardano Pulls Up 5% In 24 Hours, Unfazed By Vasil Hard Fork Delay

Cardano (ADA) had no problems pulling off a 5% spike in roughly 24 hours despite the delay of the Vasil Hard Fork upgrade. Analysts forecasted that the hard fork can help ease Cardano out of its bearish stance but it seems the coin didn’t struggle a bit despite the postponement. Over the past 24 hours, Cardano’s value has jumped by 5% as it now trades at $0.58% in sync with the current crypto market price momentum. Over the past couple of weeks, ADA was seen to have fluctuated wildly as the coin’s being jerked sideways brought about by the mounting buying and selling pressure. In all likelihood, ADA seems to be mirroring the current crypto market trends as it adds and shaves off value. Vasil Hard Fork Moved For August Launch Vasil Hard Fork was supposed to be launched in June and then moved to the end of July. However, IOG, Cardano developer, made some announcements that there will be some delays and the upgrade will be rolled out by August to give way to smooth transitions in networks. According to Kevin Hammond, Technical Managerof IOHK, the purpose of the delay is to ensure that everyone is all set for the upgrade including API developers, stakeholders, and exchanges. This upgrade will set the stage allowing many developers to easily build on Cardano. Still, ADA outlook remains to be optimistic as the network constantly works to improve the network. And this upgrade is expected to push the token up to its next target of $1. Everyone is banking on the likelihood that ADA price will spike once the upgrade is launched similar to what happens following upgrades on other DeFi tokens. Cardano Unable To Keep Up With Strong Crypto Recovery? Cardano has developed a strong community that supports the coin following the rollout of smart contacts. It’s only Achilles heel at this point would be the recent crashes that assailed ADA’s value. Nevertheless, Cardano was able to muster an all-time high back in 2021 when the coin surged at $3.10 but it was a flash in a pan, as the price declined shortly. The plunge continued yet stopped when ADA’s value hit $0.51 as it has been trending with the observation that it may not be able to keep up with the recovery that the crypto market is enjoying at the moment. And so, the bearish sentiment continued for ADA. The CoinMarketCap community has predicted that Cardano will most likely trade at $0.7311 come August 31 of this year. Others forecast that ADA may surge by 19% in August. ADA total market cap at $17.7 billion on the daily chart | Source: TradingView.com Featured image from Cryptocurrency News, chart from TradingView.com

Leave a Reply

Your email address will not be published. Required fields are marked *