Ethereum 2.0 (Consensus Layer), the upgrade that will transition the Ethereum network from the energy-consuming proof-of-work (PoW) mechanism to a proof-of-stake (PoS) consensus algorithm, is certainly the most anticipated development in the crypto space at the moment. And the community has been waiting for many years to see it happen.
Last month, Kiln, the next iteration of Ethereum merge testnets, was activated, giving the community the assurance that the upgrade is happening this year.
Read Also: The Term Ethereum 2.0 (ETH 2.0) Has Been Phased Out In Favor Of “Consensus Layer”
Just about four days ago, the first-ever mainnet shadow fork played out successfully on the network as announced by an Ethereum developer, Parithosh Jayanthi.
These developments imply that the second-largest cryptocurrency has moved closer to the highly anticipated event known as The Merge. And there has been speculation that the full transition would play out in June 2022. However, this timeframe has recently been contradicted by an Ethereum core developer Tim Beiko.
A couple of hours ago, a supposed Ethereum miner, identified on Twitter as @TripleSack, asked Tim Beiko about the fate of Ethereum miners after The Merge is implemented.
@TripleSack asked, “Tim Beiko, Any info you can provide for the ETH miners who have been invested in securing the network and supporting the Ethereum project? Or are we going to be left out to dry?”
In response, Tim Beiko urged miners to stop investing more in mining equipment, because their effort will no longer count once the network is fully transitioned to PoS.
Read Also: Vitalik Buterin Outlines His Vision for a Plausible Roadmap for Ethereum 2.0
In the same thread of tweets, the supposed miner asked the Ethereum core developer if the much-awaited upgrade will be implemented in June this year as many expected.
Tim Beiko responded by bluntly stating that the upgrade is not happening in June, but in a few months after. He said no specific date yet for the implementation, but the process is definitely in its final stage.
Tim Beiko wrote, “It won’t be June, but likely in the few months after. No firm date yet, but we’re definitely in the final chapter of PoW on Ethereum.”
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