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Ethereum merge upgrade: When will it happen? – Marca English

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En/lifestyle/us-news
Ethereum creator announced a merge that could end with crypto mining
Ethereum is about to release a new blockchain network.
Described as a much-anticipated technical upgrade called the Merge.
The Merge will be completed after June. Reports granted by the cryptocurrency’s developers believe that the process will be established in a few months after June.
Ethereum passed a crucial test last Monday. Developers launched a “mainnet shadow fork” to test the new software.
“It won’t be June, but likely in the few months after,” said Tim Beiko, a computer scientist who coordinates Ethereum developers on Twitter.
“No firm date yet, but we’re definitely in the final chapter of PoW on Ethereum.”
Ethereum’s merge is “an attempt to switch from a proof-of-work model to proof-of-stake.”
Today, Ethereum relies on proof-of-work. In the proof-of-work, miners must complete complicated puzzles to validate financial transactions on the blockchain.
The process requires a vast amount of power, and critics say it brings a negative environmental impact.
With the next upgrade to proof-of-stake, users will validate the transactions according to the number of coins they contribute.
For staking more coins, all users have a higher probability to validate transactions in the network and earn more coins or rewards.
Ethereum runs parallel proof-of-work and proof-of-stake. Both options have validators. However, only the proof-of-work chain processes the Beacon chain.
According to reports, the merge “will eliminate mining entirely.”
The merge was a delayed project. Many users were doubtful of the certainty of the merge. Due to the lack of knowledge, users kept buying hardware to mine Ethereum.
Mining equipment is expensive. Miners need “computers, graphics cards, and other gear to build an Ether mining rig. Miners spend so much on equipment as a long-term investment, hoping it’ll result in continued income”
The merge represents a certain risk. However, it is happening right now.
While people doubt, Ethereum developers will make the merge proof-of-stake happen.
“There’s a lot of skepticism because Ethereum has promised proof of stake for five years,” Beiko said. “It’s hard to convince people that this time it’s for real.”
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