According to Ansgar Dietrichs, a researcher at the Ethereum Foundation, the plan for the monumental Ethereum merge into a proof-of-stake system is moving up by 4 days.
Dietrichs mentions that The Merge date is now planned for September 15th, instead of the tentative September 19th date thrown out by a core developer Tim Beiko last month.
The highly foreseen event will allow the blockchain platform’s mainnet to merge with its Beacon Chain, which already operates the proof-of-stake system The platform presently utilizes a proof-of-work protocol.
The Merge seeks to address the network’s scalability problems by setting the stage for future upgrades, including sharding.
According to the co-founder Vitalik Buterin, the smart contract platform will eventually be competent in facilitating 100,000 transactions per second through second-layer solutions following the completion of the upgrade.
More than 13.28 million ETH worth about $24.76 billion has been staked into the ETH 2.0 deposit contract at the time of writing, according to the search engine Etherscan.
ETH was trading at $1,892 at the time of writing.
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