The Goerli testnet merge, Ethereum (ETH)‘s third and final testnet merge prior to the blockchain transitions to proof-of-stake (PoS) from the current proof-of-work (Bang) mechanism, has evidently been effective.
The merge was performed today around 1:45 UTC. The testnet merge saw the Goerli testnet merge using the Prater testnet, a PoS beacon chain, to represent the ultimate test run prior to the actual Merge happens.
The Merge is Ethereum’s much-anticipated upgrade once the current Ethereum Mainnet will merge using the beacon chain PoS system. The 2 previous testnet merges, Ropsten and Sepolia, were largely effective, and Goerli appears to become effective too.
“The probability the Merge may happen the following month just increased significantly [for me,” Lucas Nuzzi, mind of R&D at crypto intelligence firm Gold coin Metrics, stated.
The ultimate transition to PoS is believed to occur around September 20.
However, the Goerli testnet merge wasn’t quite seamless. Ethereum developer Marius van der Wijden stated the developers did not finalize on Goerli earlier since there “was some confusion around the network due to two different terminal blocks and a lot of non-updated nodes.” However, he added that to date, “it appears quite good.”
When requested concerning the two terminal blocks and just how it might have affected the merge whether it was mainnet rather of the testnet, Wijden stated theoretically, this might have happened, plus they “have code to deal with two terminal blocks.” Also, he stated the merge could have been effective if the was the mainnet.
Based on the Ethereum Foundation, the Goerli merge may be the final chance for users to ensure their PoS validators are configured properly prior to the mainnet transition.
At 06:15 UTC, ETH trades at USD 1,896 and it is up 13% per day and 17% per week. The cost also leaped 73% inside a month, trimming its annual loss to under 40%.
____
Find out more:
– The Merge’s Lengthy Term Effect on Ethereum
– EthereumPoW Fork Will not ‘Significantly’ Harm Ethereum – Vitalik Buterin
– Major Bitcoin & Crypto Companies Warn of ‘Extreme’ Risk in Proof-of-Stake Systems
– Hayes Asks ‘Forgiveness’ for Calling Ethereum a Shitcoin, Doubles Lower on ETH
– The Compromises and Advantages of Ethereum Switching to some Proof-of-Stake Network
– Vitalik Buterin states The Merge isn’t ‘Priced in’ as Investor Offers to Fork Ethereum
