Ethereum’s long-awaited migration to a proof-of-stake (PoS) consensus mechanism, which has been pushed back time and time again, looks set to occur sometime in August — hopefully.
Preston Van Loon, a core developer of the Ethereum network, told attendees at the Permissionless conference that the transition, known as The Merge, would occur sometime in August if everything plays out according to plan.
Ethereum core Dev @preston_vanloon just said the eth merge is ready,they are now only testing, and expects the merge to happen in August. Packed room @Permissionless are excited about it. Great question @TrustlessState. Also on panel @drakefjustin pic.twitter.com/vX4beNatJ5
— Benjamin Cohen (benjicohen.eth) (@benjicohen421) May 19, 2022
Van Loon told the 5000 attendees that the team was looking to make the transition before the so-called “difficulty bomb” would degrade the network as scheduled:
“As far as we know, if everything goes to plan, August — it just makes sense. If we don’t have to move [the difficulty bomb], let’s do it as soon as we can.”
Echoing this sentiment was fellow Ethereum researcher Justin Drake stated that ensuring the Merge went ahead quickly was a top priority, sharing his “strong desire to make this happen before difficulty bomb in August.”
The “difficulty bomb” refers to the program coded into the Ethereum blockchain that intentionally slows down the network. It was designed to encourage the transition to PoS by making it more difficult for miners to stay behind on the proof-of-work (PoW) chain after The Merge.
On April 11,…