Buterin Says ETH Merge (PoW to PoS) Is Likely To Happen in August, If There Is No Potential Risk

Ethereum co-founder Vitalik Buterin, along with a few core developers, have estimated that The Merge, the transition of the ETH network from proof-of-work (PoW) to proof-of-stake (PoS), should be implemented in August 2022.

This was shared on Twitter a couple of hours ago by Colin Wu, a popular crypto reporter. According to Buterin as quoted by Wu, the merge can only be delayed if potential risks are discovered during the testnet merge slated for June.

Read Also: Ethereum Miners Are Minting Blocks at a Very High Rate before The Merge: ETH Hashrate Hits All-Time High

Colin Wu tweeted, “At the Eth Shanghai Summit, Vitalik said that the Ethereum merge (POW to POS) is likely to happen in the summer in August, If there are some potential risks, September or October is also possible.

“Vitalik said the crypto space focuses too much on financial applications, which are high risk and have limited room to improve futher. Take Luna and UST for example, it completely collapsed when the market fell, and many people lost more than tens of billions of dollars.”

The upcoming event can be considered the most anticipated event in the history of the largest smart contract platform. This event is expected to play out before the “difficult bomb” slows down the network.

At a panel during the Permissionless conference, Preston Van Loon, an Ethereum core developer, said, “As far as we know, if everything goes to plan, August – it just makes sense. If we don’t have to move (the difficulty bomb), let’s do it as soon as we can.”

Read Also: Vitalik Buterin Speaks On Likely Date of The Merge and What Happens After the Two Ethereum Chains Are Merged

The difficult bomb is an intentional process inserted into Ethereum’s code. It’s designed to slow down the network at a given time. This was specifically incorporated by the ETH dev team to encourage developers to push the PoS transition and to also make it difficult for miners to remain on the network after the merge implementation.

In corroboration with Buterin’s estimation, an Ethereum researcher Justin Drake also stated that he has a “strong desire to make this happen before difficulty bomb in August.”

Meanwhile, it has been announced that Ropsten, Ethereum’s main public testnet, is set to undergo the merge in the coming month. This is one of the final preparations before Ethereum blockchain finally transitions to the proof-of-stake (PoS) consensus mechanism.

---

Follow us on Twitter, Facebook, Telegram, and Google News