The Ethereum Foundation has uncovered further details concerning the highly anticipated merge. According to Ethereum.org, the merge will be in two stages. The first stage would be the Bellatrix upgrade, set to occur on the 6th of September. Next would be the Paris upgrade, estimated to occur between the 10th and 20th of September.
Initially, Vitalik Buterin revealed that the merge would be finalized on the 19th of September. Upon further examination, the estimated date was brought closer to the 15th.
The transition from proof-of-work to proof-of-stake will be the most complex change in the history of Ethereum. Perhaps, it would also mark the most complex transition in the crypto ecosystem.
Ethereum has come a long way since its creation in 2015. Network users have called for scalability and expansion. Finally, these concerns would be resolved. The Ethereum network hosts thousands of cryptocurrencies, dApps, and non-fungible tokens.
Ethereum community members are excited to see how the merge will impact the network and ecosystem. Three core features that will be improved on the Ethereum network are scalability, security, and sustainability.
After the merge, the Shanghai upgrade will be implemented. The Shanghai upgrade would make it possible for stakers to unlock their tokens. According to the Ethereum Foundation, staked Ether would be unlocked in batches. In preparation for the merge, users staked over 10 million Ether tokens.Â
The Ethereum team is working hard to ensure that the proof-of-stake transition goes as planned. Several crypto analysts believe a successful network upgrade may positively impact the crypto asset’s price.
Also, a significantly negative result may cause the price of Ethereum to tank in September. As it stands, all infrastructure needed for success has been implemented by the Ethereum team.
