In preparation for the much-anticipated Ethereum transition from proof-of-work into proof-of-stake (PoS), dubbed the merge, developers have successfully activated PoS on the Ropsten test network.
Ropsten Now Running Proof-of-Stake
On Wednesday, June 8, Ropsten began running the proof-of-stake algorithm after the codes of its PoW chain were merged with the codes of the PoS beacon chain.Â
The Ropsten merge serves as a practice session for the mainnet merge. Client software teams are now checking using Ethereum nodes (on Ropsten) to see if it performs without any glitches.Â
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Client software teams participated in the merge, including Lighthouse, Lodestar, Prysm, Teku, Besu, Erigon, go-ethereum (get), and Nethermind.
PoS Is Around the Corner for Ethereum
The successful merge on Ropsten prepares the way for the Ethereum mainnet merge scheduled to happen later this year.Â
However, other merges on Goerli and Seoplia testnets are expected to happen in the coming months before we can finally see the PoS on the Ethereum mainnet.
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The transition from PoW to PoS will end ETH mining, giving rewards to stakers instead. It will also reduce Ethereum’s energy consumption by 99.95%.
On the Flipside
- With the Mainnet merge closer than ever, investors are bullish about ETH and are increasing their stake. ETH has risen by 0.5% over the last 24 hours to trade at $1,810.
The 24-hour price chart of Ethereum (ETH). Source: CoinMarketCap
Why You Should Care
The merge is a long-awaited historic event for Ethereum, and a successful first dress rehearsal could speed up the mainnet merge.
Read about investors’ forecast for ETH ahead of the merge below;
Crypto Community Forecasts Ethereum (ETH) to Reach $3,000 Ahead of the Merge
Ethereum (ETH) Staked in Consensus Layer Reaches 10% of Circulating Supply
