Ethereum developers will test blockchain transition to PoS
These are the final steps before the complete transition to Ethereum 2.0
01.06.2022 - 07:30
371
2 min
0
What’s new? The Ethereum team will conduct a blockchain merge on the Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus algorithms of the Ropsten test network. This was announced on Twitter by developer Tim Beiko. He added that the release of the “Merge” upgrade, after which Ethereum will switch to PoS, is expected around June 8.
📣 Ropsten Merge Announcement 📣Ethereum's longest lived PoW testnet is moving to Proof of Stake! A new beacon chain has been launched today, and The Merge is expected around June 8th on the network. Node Operators: this is the first dress rehearsal💃https://t.co/0fDHObLOmn— Tim Beiko | timbeiko.eth 🐼 (@TimBeiko) May 30, 2022
What else did the developers say? The Ethereum Foundation blog notes that other testnets, such as Rinkeby and Kovan, will be able to be supported and upgraded by the community, but will no longer be controlled by app developers.
What is Ethereum 2.0? It is a major upgrade of the network, preparations for which began back in December 2020. The main goal of Ethereum 2.0 is to change the consensus algorithm from PoW to PoS. Read more about the upgrade and how miners will be able to earn in the new environment in this GetBlock Magazine article.
What happened before? On May 20, Ethereum co-founder Vitalik Buterin said that the blockchain’s merge from the Proof-of-Work (PoW) consensus algorithm to Proof-of-Stake (PoS) will take place in August 2022. He also added that if there are risks, the Ethereum 2.0 release could be pushed back to September or October of the same year.
In December 2021, the Kintsugi testnet was launched. According to Tim Beiko, after all the test results were taken into account in the software and specifications, the final part of testing would begin, which would consist of several testnets. In March 2022, Ethereum launched its final testnet, Kiln. It is the last public network before moving to PoS.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$99 315
BTC
+1.18%
-
Ethereum
$3 295.8
ETH
-1.78%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.45
XRP
+23.04%
-
Dogecoin
$0.401846
DOGE
+3.85%
-
Cardano
$0.982565
ADA
+24.09%
-
Stellar XLM
$0.344271
XLM
+41.1%
-
Bitcoin Cash
$490.97
BCH
+1.2%
-
Polkadot
$6.4
DOT
+9.24%
-
Litecoin
$90.88
LTC
+2.54%