Why every crypto guy is waiting for September 15?!
What is going to happen on September 15, 2022, and how it is going to change crypto forever?!
Vitalik Buterin, the co-founder of Ethereum (ETH), has announced a new probable date for the much-anticipated Merge update.
Buterin stated in a tweet on August 12 that engineers have set the number of hashes remaining to mine; hence, the switch might occur around September 15.
Notably, Ethereum developers had previously predicted that the transition to the Proof-of-Stake (PoS) method will take place on September 19. However, Buterin said that the precise migration date is dependent on hash rate, despite the fact that the developers have set the total terminal difficulty at 58750000000000000000000.
It is important to note that Ethereum developers successfully completed the third and final test environment network (testnet) for the Merge on August 10. The ‘Goerli’ update is said to be a dress rehearsal for the Merge.
Even as Ethereum attempts to abolish mining on the network, it is worth mentioning that numerous blockchain players have expressed opposition to the update, with the suspicion that they may opt for a fork in order to keep the Proof-of-Work (PoW) status.
Buterin, on the other hand, has recommended miners relocate to other similar ecosystems such as Ethereum Classic (ETC). Furthermore, Buterin feels that a fork will have little impact on the Ethereum ecosystem.
At the same time, f2Pool, Ethereum’s second biggest mining pool, has stated that the choice to support the Merge update is ultimately up to the mining community.
Overall, the Merge upgrade is regarded as historic for Ethereum, with analysts forecasting a strong outlook for the second-ranked cryptocurrency.
It would also have an influence on the whole crypto industry since it would directly target cryptos that have the sole purpose of serving as an alternative to Ethereum.
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Info Source: Finbold, Justinas Baltrusaitis
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