The migration of the Ethereum blockchain to a new consensus mechanism, which will revolutionize its operation, could take place sooner than expected. According to the Ethereum Foundation blog, this update called The Merge should come on September 15th.
This is the event that puts the whole cryptosphere in turmoil. The Merge, the transition of Ethereum blockchain networks to the consensus mode called Proof of Stake (PoS), originally planned around September 19, could be realized sooner than expected.
According to the Ethereum Foundation blog, the latest “Consensus layer call”, a conference bringing together Ethereum developers, organized on Thursday and broadcast live on Youtube, resulted in the determination of a new date for The Merge. The “target date” is now set for September 15, 2022. “But this estimate could have a week’s margin of error”, specifies the blog, in case of unforeseen events.
After successfully simulating its update on testnets on Wednesday, and the surge in the price of its token the next day is another positive signal for the cryptocurrency. With this technically demanding update, Ethereum should eventually consume 99% less energy. The blockchain software platform has been working on this major shift for seven years.