Ethereum’s second-to-last major Merge trial has been completed on the public test network Sepolia. This will pave the way for the transition to the PoS consensus mechanism.
It was not an accident-free event, even though it has been largely a success.
Over the next few weeks, the final Merge trial will be held on the Goerli network. The official Merge on Ethereum can then take place.
Anthony Sassano (ETHEXT educator), hosted the Sepolia Merge YouTube livestream on July 6 and confirmed via Twitter that the Merge transition was “successful”. He also added that testnets will be closely monitored over the coming days.
We are grateful to everyone who viewed the Sepolia merger livestream! The Sepolia merger transition was successful (and the chain completed!) Now it’s time to monitor the network over the next few hours. We will then merge Goerli… and then mainnet The Merge.
— July 6, 2022, sassal.eth @sassal0x
Terence Tsao is an Ethereum protocol developer. He also stated that the Merge transition was a success but added that around 25%-30% of validators went offline following the Merge because of “wrong configurations”. However, he said that “hiccups won’t delay the Merge.”
Summary of Sepolia: – The merge transition was a success. – Between 25-30% and 25% of validators went offline within minutes. – The incorrect configs were responsible for the offline validators going offline. – Validators have been up since then.
— terence.eth July 6, 2022 (@terencechain).
Superphiz, a founder member of the ETHStaker Community, warned during the stream that the Merge’s actual success won’t be known for several hours or until tomorrow.
Final trials will take place on the Goerli network. Superphiz said that the Merge’s timing will be determined by the results of the Sepolia tests.
Testnet Merges are a “dress rehearsal” to help Ethereum developers and independent developers understand what to expect when the actual Merge occurs.
Vitalik Buterin, co-founder of Ethereum, said that the main network Merge will face “much more third party infrastructure that’s not present on the testnets.”
Related: Ethereum Name Service registrations rise by 200% due to lower gas prices
“So, there may be non-critical issues such as that which will just pop up with the Merge that you’re not catching using these tests […] There are a lot peripherals that just don’t get tested and that’s probably okay.”
In the meantime, you can find exchanges…
Despite this, Santiment warned of a possible ETH sell-off. Total ETH supply on exchanges reached a new high on July 4th at 13.8%. This is the highest level since January 3, 2022.
The price of #Ethereum has moderately rebounded to $1,120 at America’s birthday. Despite this, $ETH is still moving quickly back on exchanges and is very close to breaking the 2022 highs. While coins are increasing on exchange wallets, there is a greater risk of a saleoff. https://t.co/kJFZNCXV54 pic.twitter.com/JcmrHp80VK
— July 4, 2022, Santiment (@santimentfeed).
The percentage of ETH available on exchanges has fallen slightly to 13.25% as of July 7.
At the time of writing, Ethereum’s price is $1,186.