The long-awaited Ethereum migration to a Proof-of-Stake (PoS consensus mechanism) looks like it will occur in August, hopefully.
Preston Van Loon was a core developer for the Ethereum network and told attendees at Permissionless that The Merge would take place sometime in August, provided everything goes according to plan.
@preston_vanloon, Ethereum core Dev, just announced that the eth merge was ready. They are currently only testing and anticipate the merge to occur in August. It’s exciting! Great question @TrustlessState. Also on panel @drakefjustin pic.twitter.com/vX4beNatJ5
— Benjamin Cohen (benjicohen.eth) (@benjicohen421) May 19, 2022
Van Loon explained to the 5000 people that the team wanted to complete the transition before the “difficulty Bomb” would cause the network to fail as planned.
“August, as far as we know, is a good idea if everything goes according to plan. Let’s move the difficulty bomb as quickly as possible, if we don’t need to.
Justin Drake, a fellow Ethereum researcher, echoed this sentiment and stated that it was important to ensure the Merge goes ahead quickly. He shared his “strong desire” to see this happen before August’s difficulty bomb.
The “difficulty Bomb” is a program that deliberately slows down Ethereum’s network. It was created to encourage PoS transition by making it harder for miners to remain on the proof of work (PoW), chain after The Merge.
Tim Beiko, an Ethereum developer, announced on April 11 that The Merge was being delayed once more. Beiko stated that The Merge would not go ahead in June despite a successful shadow fork test. Beiko stated that developers must act quickly to avoid the difficulty bomb. If they fail to do so, then they will have to release yet another update in order to delay the bomb.
“If client developers don’t believe they can deploy The Merge on mainnet before block times get slowed too much,” it will be delayed again.
This week’s news that the Ethereum network will experience a “huge milestone in testing” has prompted the recommitment of the timeline. The Ropsten testnet Merge is scheduled to take place on June 8. The Ropsten testnet Merge will combine the PoW test network with a PoS consensus layer testingnet. It will simulate what happens when the Merge between Ethereum & the Beacon Chain takes place, and it becomes an actual PoS network.
The Merge, previously known as Eth2, will be implemented successfully in August. The final landmark on Ethereum’s roadmap is the upgrade to sharded chain, which is scheduled to go live in 2023. The network will use layer-2 networks such as Polygon and Optimism until then to manage high transaction volumes and scale.