The merger phase of the crucial transition from proof–of-work (PoW), mining consensus, to proof–of-stake (PoS) is approaching for Ethereum network. During a conference call, Ethereum (ETH) developers offered a perpetual merger date.
Core Ethereum developer Tim Beiko (who runs core protocol meetings) suggested September 19 as the tentative merger target date. The core developers didn’t object to the proposed target date.
Later, Ethereum developer superphiz.eth tweeted the roadmap for the merger. He also clarified that the target date proposed should be viewed as a roadmap and not a deadline.
Although this merge timeline is not final, it’s very exciting to see it come together. Please regard this as a planning timeline and look out for official announcements!https://t.co/ttutBceZ21 pic.twitter.com/MY8VFOv0SI
— superphiz.eth July 14, 2022 (@superphiz).
The transition to PoS-based Ethereum 2.0 began with the launch Beacon Chain on December 1, 2020. This was the beginning of Phase 0 of Ethereum’s transition. The launch of Phase 1 was originally scheduled for mid-2021, but it was delayed until the first quarter 2022 due to incomplete work and the complexities of code auditing.
In June, the Sepolia testnet Beacon Chain went online. This set the stage for Merge’s dress rehearsal, which will provide valuable technical insight to Ethereum network developers. On 7 July, the Sepolia was merged with Ethereum network.
The Merge’s final trial will take place on the Goerli network, which is scheduled for August 2nd. The official Merge, which is scheduled for the second half September, will now be a priority for developers.
Ethereum’s transition from PoS-based network to Ethereum is expected to decrease its energy consumption by 99%. The introduction of sharding (expected in the first quarter of 2023) would make the network highly scalable, and comparable to centralized payment processors.
Related: Vitalik claims that proof-of stake is a “solution” to Ethereum’s environmental problems
PoS vs PoW has been a long-running debate. PoS supporters claim that it is more secure and environment friendly, while PoW advocates such as Jack Dorsey call PoS centralized and less secure.
Vitalik Buterin, co-founder of Ethereum, has been aggressively advocating PoS recently, while also arguing that contrary to popular belief PoS doesn’t include voting on protocol parameters like proof-of work (PoW). Buterin explained that nodes reject invalid block in PoS and PoW.
Pro-tip: If there is a long-standing tradition of people debating about A vs. B, based on deep arguments touching math, economics, and moral philosophy and you decide to say that “B is dumb because of one-line technicality involving définitions”, then you are probably wrong. https://t.co/22N0OaHyz1
— Vitalik.eth (@VitalikButerin), July 3, 2022
Buterin is still fighting for PoS. However, a recent report by HOPR highlighted key vulnerabilities that could prove to be critical post Merge.
This is not an emergency. It does not affect funds at the moment. This WILL be a problem after Merge, as validators will try to disrupt each other in order to steal millions of dollars in MEV.
This report revealed that validators on the network leaked their IP addresses while broadcasting attestations and blocks that are linked to their public keys. However, these validators are known in advance, which allows for highly targeted attacks (DoS) against future validators.
@Quantstamp’s @Teku_ConsenSys audit labels the issue “Mitigated”, which we believe is inaccurate and forces us to double our efforts to raise awareness about this privacy and security issue 5/15
— July 12, 2022, HOPR (@hoprnet).
The HOPR team noticed that the audit report had even called the issue “mitigated”, which is false because attackers don’t just attack the Teku node (DoS).