If everything is up to plan, the summer of 2022 is the ideal time for the Ethereum mainnet to migrate from proof-of-work (PoW) to proof-of-stake (PoS), says Vitalik Buterin, the co-founder of Ethereum. This migration called The Merge is the largest and the most awaited event in the altcoin’s development roadmap in 2022.
The developers of Ethereum have been working on PoS for nearly seven years and are drawing nearer and near to its conclusion. This is considered a milestone for the world’s most popular blockchain as it transitions from PoW to PoS. Over the past year, the merge has been delayed, and now the finale is just around the corner.
Buterin said that if everything goes well, the plan is for the Merge to happen in the summer. And if there are no problems, then it will happen in August. But if there are problems, September is possible as well as October. Whatever the month maybe, Ethereum will finally emerge as a proof-of-stake network.
Preston Van Loon, an Ethereum core developer, had earlier said that the merge is most likely to happen as early as August 2022. He tweeted that the Ropsten testnet is getting merged on June 8 and this is a milestone towards Ethereum’s mainnet merge later this year. Parithosh Jayanthi, from the DevOps team, at the Ethereum Foundation, said the code is the one that will be implemented at the Ethereum Merge. Anthony Sassano, the co-founder of an ETH research tool, believes there will be three public testnets run through the transition. If it goes smoothly, the mainnet will be scheduled shortly.
With the Ethereum Merge, stakers will be assigned to validate transactions on the altcoin’s mainnet. Miners will invest their earnings into staking to be part of Ethereum’s PoS ecosystem.