Ethereum (ETH) is one step closer to ‘The Merge’, the long-awaited transition to the Proof of Stake (PoS) chain or called Ethereum 2.0.
Today, its other testnet, Sepolia, has successfully implemented its own merger and switched to PoS.
Testnet, short for ‘Test Network’, allows those who use the blockchain to try out new technologies before they are rolled out on the mainnet or upgraded.
The final trial of The Merge is expected to take place on the Goerli network in the next few weeks before the official merge on the Ethereum mainnet is launched.
The merger on the mainnet will move the Proof of Work (PoW) mechanism initially used by Ethereum to PoS.
With this shift, it will no longer involve miners who use electricity, instead it is more focused on staking which only requires investors to deposit money in the platform to get rewards.
A successful transition to PoS will make Ethereum transactions faster and cheaper as it dramatically reduces the amount of gas fees.
While there is no definite timeline, Ethereum co-founder Vitalik Buterin and other developers have previously predicted that the actual merger will take place in August, or September or October at the latest.
At the time of writing, Ethereum is trading at $ 1,176, stable from a severe drop recorded last month where it has fallen to its lowest level since January 2021.
