The date of the merger in the Ethereum network has been named
Ethereum developers have announced the date of the merger on the network, which will mark the transition from the PoW algorithm to a more energy-efficient PoS
The POS version of Ethereum called Beacon Chain is now functioning in parallel with the PoW version of the main network, and the transition process itself was announced in December 2020. And now, on September 19, it is planned to merge in the Ethereum network.
Updates and changes are checked in test networks, thus negating the risk of a collapse of the main network or disruption of user work. Ethereum developer Marius van der Weyden called the recent "shadow fork" another step in the right direction. In addition, the merger process was successfully tested on the Sepolia network last week.
The merger will mark the beginning of a new era for Ethereum. Now the responsibility for verifying transactions and creating new blocks will be assigned to validators, not miners. In the Ethereum network, anyone who has deposited at least 32 ETH in the Beacon Chain can become a validator. This deposit offers a financial incentive to secure transaction confirmations. Validators can earn more if they provide uninterrupted and honest work.
Currently, several PoS networks are widely used, but in terms of the activity of investors and developers, none of them has come close to Ethereum in terms of popularity.
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