Ethereum’s (ETH) Final Test Before The Merge Launched On Goerli

The testnet triangle is completed, now it’s time for the real deal.

Ethereum’s (ETH) Final Test Before The Merge Launched On Goerli

Wednesday evening is sure to end up in the history books of crypto, as Goerli, the third testnet out of Ethereum’s (ETH) triangle of testnests, has successfully switched to proof of stake (PoS). As a result, it has been confirmed that the highly anticipated upgrade is going to be rolled out according to schedule. Set to launch on September 19th, ETH 2.0, or “The Merge,” as publicly nicknamed by many crypto investors who are awaiting the big day, is getting closer.

Ethereum (ETH) Has a Full Plate This Summer

The Goerli testnet’s switch to the new method had to be done in two phases. Firstly, the Bellatrix upgrade, needed to prepare the system for the switch, was done on August 4th. The second part, called “The Paris phase” was done last night. It switched the execution layer client, so that right after the upgrade kicks in, all of the new blocks on the chain are produced with the help of the Beacon Chain, running alongside Ethereum (ETH) 2.0.

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Earlier this summer, the Ropsten testnet successfully launched the proof-of-stake mechanism. This was done in June, while just a month later, the Sepolia testnet also switched from proof of work (PoW) to proof of stake (PoS). Now, with the testnet puzzle fully completed, the twice postponed merge is likely to happen without any more delays.

Set to come in full swing in mid-end September, Ethereum’s “The Merge” will be the first out of a couple major upgrades to the second largest crypto asset. According to founder Vitalik Buterin, “The Merge” stands for 55% of Ethereum (ETH) blockchain completion.

Ethereum (ETH) Market Price Is on the Path of Resurgence

At press time, the second largest cryptocurrency by market capitalization trades at $1,884.07, according to CoinGecko. The king of the altcoins is having a great day, recording a profit in double digits of 11.7% in the last 24 hours. Furthermore, Ethereum (ETH) managed to paint itself green this month, being up by as much as 71.4%. However, Ethereum (ETH) is still 61.2% down from its all-time high 9 months ago. While there’s still a long way to go to get back to the nearly 5K ATH, Ethereum (ETH) is bouncing back from the trials and tribulations of the harsh crypto winter faster than most.

Why You Should Care

Ethereum 2.0, “The Merge,” is crucial for the whole crypto industry, as it will dramatically reduce carbon emissions and lower transaction fees.

Learn more about the schedule and order of The Merge

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.