Ethereum’s merge process has taken roughly 2 years at this point, with Beacon chain launch in December of 2020 starting the long journey to PoS. The development of the merge though has been marred with multiple delays over the course of almost 2 years now.
The Ethereum network is gaining on its launch of the merge phase of its transition into a PoS consensus system. It will do this by merging its mainnet with the Beacon chain. The Ethereum devs offered a tentative merger date during a Thursday conference call.
Tim Beiko, Core developer of Ethereum set the date for September 19th as the target for the merger. The date was not met with any scrutiny by the rest of the core developers in the conference call.
Superphiz.eth, Ethereum developer, tweeted a roadmap to the merger that incorporated the target date set by Beiko. He also noted that the roadmap should be seen as something more of a roadmap instead of a hard deadline.
The launch of the Beacon chain on December 1st, 2020, initiated Ethereum’s journey to a proof of stake consensus. Originally called ETH 2.0, the process itself has been officially dubbed the merge. Phase 0 began with the Beacon Chain. Unfinished work and complications delayed the start of phase 1 to the first quarter of 2022, from its initially set date in mid-2021.
June marked a big turn for the development of the merge as the Beacon testnet officially went live where devs were able to set up a “dress rehearsal” for the merge. The merge for the beacon testnet took place on July 7th, 2022.
The Goerli network will be the stage for the next trial of the merge. This is scheduled for the second week of August, a successful merge of which will likely solidify the target date set for the mainnet merge.
Vitalik Buterin, co-founder of Ethereum believes that the merge will help Ethereum out of the technological rut it has been facing against other blockchain technologies, and even other centralized platforms. It is expected that the merge will reduce energy consumption by 99%, lowering gas prices and increasing scalability to a competitive level with its main rival, Bitcoin.
Buterin has been on the defensive over his views of the PoW vs PoS debate and how it will affect the future of the Ethereum ecosystem.
Despite this defense though other skeptics like HOPR try to highlight some key vulnerabilities that may be present post transition.
“We should stress that this isn’t an emergency: It doesn’t affect any funds today. But this WILL be a major problem post Merge and validators are incentivized to disrupt each other to poach a share of millions of $$$ in MEV.”