Unify testnet Goerli was successfully executed around 8:45 am this morning. Unify testnet, which saw the Goerli testnet merge with the Prater testnet, a PoS beacon chain, which represents the last test run before the actual Merge takes place. The Goerli/Prater merge occurs when Goerli reaches a total difficulty of 10,790,000.
The successful Goerli testnet merger is the strongest signal of the long-awaited “Merge” of Ethereum, where the PoW chain chain Ethereum will now “merge” with Beacon Chain Proof-of-Stake and complete the transition to PoS, will actually take place this fall. Members of the Ethereum Foundation, Tim Beiko, suggested the most likely date would be September 19.
Merge is considered "the most important upgrade in the history of ." Ethereum.” This advanced technical maneuver will see the existing Ethereum PoW Mainnet merge with the PoS Beacon Chain, which is currently running parallel to the mainnet. After the Merge takes place, the PoS mechanism of the Beacon Chain will effectively take over as the network's block producer.
A successful consolidation has significant long-term implications for Ethereum, including a 99.9% reduction in energy usage predicted. It also paves the way for sharding, a scalable solution that involves breaking up a network's data into smaller and more manageable chunks.
Merge's potential effect on Ethereum's market value is the subject of intense speculation. Last month, Vitalik Buterin said in an interview that Merge is not yet priced in and the excitement surrounding the story could peak after the event unfolds. Indeed, analysts at JPMorgan noted in a letter to clients on Monday that the crypto market may have “found a bottom,” thanks in large part to the excitement surrounding the Merger prediction. .
ETH raised 13% in the 24 hours following the news and is trading at $ 1,880 at press time.