ETH Rallies on September ‘Soft’ Timeline for Upcoming Merge

July 19, 2022, 10:15 AM AEST - 3 weeks ago

Ethereum core developer Tim Beiko has said that Ethereum’s long-awaited upgrade, the Merge, may take place from September 19, pumping ETH’s price 8 percent since the announcement.

‘It’s All Coming Together’

According to recent tweets from the Ethereum community, Goerli will be the last testnet to go through the proof-of-stake transition around August 11. If everything goes according to plan, the Ethereum mainnet merge could take place in the week starting September 19:

However, Beiko repeatedly said on Discord and Twitter that the timeline might change again. According to Beacon Chain community manager superphiz.eth, this merge timeline “isn’t final, but it’s extremely exciting to see it coming together”:

If all goes well, the Ethereum blockchain could finally transit from its current energy-intensive proof-of-work (PoW) blockchain to a more environmentally friendly proof-of-stake (PoS), providing users with faster and cheaper transactions.

Success For All Testnets So Far

So far, all testnets moved into PoS have thrown successful results. Last week, the Ethereum Foundation moved the Sepolia testnet to PoS.

On June 10, the Ropsten testnet went live on Ethereum’s new PoS chain, which Beiko referred to as a “dress rehearsal for node operators”. Once the final testnet goes live on the PoS chain, it will be Ethereum’s turn after seven long years.

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