One of the world’s largest blockchains Ethereum is testing a new way to approve transactions. It will merge the existing Ethereum mainnet with the Ethereum 2.0 system’s Beacon chain. The launch is planned for the second quarter of 2022. An exact date has not been announced, however.
Logical month for the merger
It is expected that after some reshuffling, dubbed ‘Eth2’ or now ‘consensus layer’, it may finally have a firm launch date.
A Reddit member (u/superphiz) of the r/ethsaker community predicted that this would happen in June of this year. In an extensive post on Reddit, u/superphiz outlines the following five reasons why June is a logical month for the merge.
Furthermore, on February 19, Ethereum researcher and implementation organizer Danny Ryan explained that the merger was very close. Ryan quoted:
“It’s actually very close. I think that he [the difficulty bomb] will be impeccably timed. The difficulty bomb will go off, sometime in June, start to feel it sometime in July.”
Notably, during Consensus Layer call #83 on March 10, the discussion surrounding the Kiln Tesnet launch implied that the ‘merger’ could happen soon.
The Kiln testnet was intended to be the last major testnet before the merger. And it should take three months. In addition, Marius Van Der Wijden announced the launch of Kiln’s public merge testnet. A Reddit user pointed out the importance of this announcement by making the following statement:
It’s time to go #TestingTheMerge goes again! We have turned the oven 🧱🔥 test net to test #Ethereum‘s upcoming move to proof-of-stake (this should be the last testnet before we start merging Ropsten, Rinkeby, Goerli, etc.).
This thread explains how *YOU* can get involved 🚀🚀🚀 pic.twitter.com/XthSZN8L2e
— MariusVanDerWijden (@vdWijden) March 10, 2022
he continues claimed†
“Anyone who has seen these events before knows that those test nets are being put together into a product ready for launch. While I don’t know the planned timing for those testnet launches, it’s quite reasonable to expect a two-week delay between each testnet merge.”
On March 11, the configuration for the Kiln testnet was announced. Finally, the aforementioned difficulty bomb is expected to “detonate” around June 2022. In this regard, the Reddit user wrote:
Source: Reddit
Is it worth the wait?
More than 10 million ether (ETH) is locked on Ethereum’s Eth 2.0 staking contract prior to a planned upgrade. It was worth about $25.5 billion at the time of going to press.
Source: Dune Analytics
In fact, this month saw a spike in ether deposits on the Eth 2.0 contracts after a relatively lean spell in January and February this year.
This post The highly anticipated merger of Ethereum with the Beacon chain may take place in…
was published first on https://ambcrypto.com/the-much-anticipated-ethereum-merge-with-the-beacon-chain-might-occur-on/
