The Ethereum Foundation has announced that the system-wide transfer known as the Merge will begin on September 6th. The first domino will fall on September 6th, when the Bellatrix update is activated, kicking off the remainder of the Merge process, with a completion date predicted between September 10th and 20th.
The Merge refers to Ethereum’s transition from proof-of-work to proof-of-stake – two distinct techniques of confirming blockchain transactions. If you’re not engaged in the area of cryptography, the technical distinctions between the two ways may be obscure. The significant difference, though, is that the new proof-of-stake technique will consume considerably less energy – 99.95% less, according to the Ethereum Foundation’s estimations. Given popular criticism of cryptocurrencies as a massive waste of electricity that provides no added use to the world, this is a significant development.
The Merge is a two-step procedure, as described by the Foundation. The first phase is the previously stated Bellatrix update, which is scheduled to be live on September 6th at 11:34:47 AM UTC. When this goes live, it starts another clock counting down to a TTD (terminal total difficulty) of 58750000000000000000000. TTD is difficult to express in a single sentence, but it is simply a measure of activity on the Ethereum network. When this level is achieved, another upgrade, Paris, is activated, and the Merge is completed.
The Merge is by far one of the most significant occurrences in the cryptocurrency industry to date. On the one hand, it’s a technological update that will enable new Ethereum blockchain capabilities, but it’s also something more abstract: a test of the community’s coherence and devotion. If Ethereum lives and thrives following the Merge, it will be a statement of trust in the platform.
