Ethereum continues to make the needed headways in relation to the most anticipated development in the crypto ecosystem, Ethereum 2.0.
As recently revealed by Ben Edgington, an Ethereum developer and researcher at ConsenSys development studio, Ethereum 2.0 Merge interoperability Devnet has been confirmed, representing notable progress towards the upgrade to proof-of-stake (PoS) consensus algorithm.
Upgrade to Proof-of-Stake (PoS) Around the Corner
In a tweet on 8th October 2021, Edgington, who is a product owner of Ethereum 2.0 Teku client implementation, said The Merge is now launched in devnet.
Its devnet has the capability to interact with different implementations of Ethereum 2.0 because it’s designed to be interoperable. So, this enables users to test out instruments of transition to Ethereum 2.0.
In the tweet, images of Ethereum 2.0 devnet’s “Hello World” moment were captioned, including the euphoric moment of Merge activation.
Read Also: Analyst Predicts Ethereum Notable Breakout, Says Bitcoin Would Hit New All-Time High by November
Ben Edginton tweeted, “Ethereum 2.0 merge Interop devnet confirmed. Let’s go!”
Ethereum 2.0 merge Interop devnet confirmed. Let's go! 🚀 pic.twitter.com/8vrpmOHYIl
— Ben Edgington ⟠ benjaminion.eth (@benjaminion_xyz) October 8, 2021
What’s The Merge?
The Merge is described as an upgrade to Ethereum that swaps out the proof-of-work (PoS) consensus algorithm with a more eco-friendly, efficient, and secure proof-of-stake (PoS) consensus mechanism.
After the implementation of The Merge, the PoW consensus mechanism will be fully depreciated and all blocks on the Ethereum blockchain will be produced via the PoS consensus algorithm.
Read Also: Ethereum Improvement Proposal for the Two Chains Merging In PoS Transition Is Formally Created
Meanwhile, Danny Ryan, the coordinator of Ethereum 2.0 at the Ethereum Foundation, had confirmed the date of the first-ever Ethereum 2.0 upgrade known as Altair, indicating that Vitalik Buterin and his group of developers are making progress.
According to Ryan, the Altair beacon chain (ETH2 initial phase) upgrade will be launched in mainnet at epoch 74240, which is expected to come on 27th October 2021 at 10:56 A.M. UTC.
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