The long-awaited transition of Ethereum to the PoS (proof-of-stake) consensus mechanism has been delayed several times. As the exclusive reports indicate, a probable time for this to happen would be the coming August. Vitalik Buterin, the co-founder of Ethereum, recently appeared at the ETH Web3 Developer Summit.
On that very occasion, he stated that the schedule for the PoS evolution has been set for going live on Ropsten (the testnet of Ethereum) on the 8th of the coming month. A core developer dealing belonging to the Ethereum network, Preston Van Loon, has additionally cited that The Merge is planned to take place in August with the current pace of everything in the strategy. At the event of the Ethereum Summit, Vitalik Butern revealed that this will prove to be a chief test, even bigger than those that the network has carried out previously.
He elaborated that in the above-mentioned test there would be several applications having proof-of-work to be converted into proof-of-stake. Van Loon, while speaking at the Permissionless conference, expressed that – according to their perception – if the strategy does not experience any hindrance in its course of work and the difficulty bomb does not bother them then they will endeavor to do their best in this regard to complete the process as shortly as they can.
Ethereum Co-Founder Says Interruptions Are The possibilities
It has been confirmed by Vitalik Buterin that the time of the execution of The Merge has been specified as August of the present year. Apart from this, he focused on the delay factor as well. He spoke that the hazard of delays is always there as is the case with some other issues. He moved on to elaborate that the delays may take the project to September or even October if something bad happens.
The respective statement was made by the Ethereum researcher to discard the perception of the community members that August will be a definite time for the occurrence of the planned project. As per Justin Drake, the group is making effort to guarantee that the timeline is followed by The Merge because this is their priority in the program. He also highlighted his extreme desire to turn this into reality in August in advance of the difficulty bomb.
The concept of the “difficulty bomb” symbolizes the program that the Ethereum blockchain has been coded with. The respective program causes the network to slow down. The purpose of incorporating the specific program was to make it difficult for the miners to do proof-of-work-based mining and to encourage the others to utilize proof-of-stake after the occurrence of The Merge.
What comes next to The Merge?
The Merge counts to be the initial among the key upgrades of the Ethereum network. Following The Merge, The Splurge, The Purge, The Verge, as well as (the closest) The Surge will be the upgrades that the Ethereum network will contemplate incorporating. The Surge reportedly deals with scaling as well as the advancement thereof. Sharding techniques will be utilized to execute this. Following that “Verge” will apply Verkle trees to persuade toward decentralization by utilizing the upgrade of Merkle proof. Purge will be directed to incorporate the EVM simplification route as well as erase the technical and historical debt.