ETH core developer Tim Beiko said in a blog post: elaborate He described the long-awaited ‘Merge’, which is expected to take place at the end of 2022. ‘The transition from Ethereum to proof-of-stake (PoS) is now a clear insight,’ he said.
As we get closer to the end of 2022, it looks like ‘The Merge’ will finally be released. After months of speculation and backlash, the Ethereum Foundation appears to have paved the way for a launch.
The foundation should now test the mainnet shadow fork without problems, get approval for the merge suite, and deploy seamlessly to the existing testnet. When everything is confirmed and approved, we finally move on to the mainnet.
What is this step and is it necessary?
A shadow fork is the first step required for Foundation approval. This allows developers to observe how clients perform in conditions close to public networks. Several Goerli shadow forks have been deployed along with two mainnet forks. Another fork called MSF3 will be released this week.
As the merge is the biggest upgrade in Ethereum history, it will require a new infrastructure to test the interactions between the layers. The foundation has performed many test tools built by the entire Ethereum community, including clients. The foundation will then wait for the results of the above steps before deploying the merge to the existing public testnet. Finally, the process for converting the Ethereum mainnet to proof-of-stake will be similar to that for the testnet.
But before ‘the merge’ happens, The foundation must address existing issues, such as gas bills.
Buterin looking for ETH gas billing solutions
Ethereum’s gas pricing problem has come to the fore again after Vitalik Buterin’s recent remarks. ETH trading has been very high since last year’s DeFi project and the boom in the NFT industry.
You need less than $0.05 for a truly acceptable imo. But we are definitely making great strides, and an initial dam sharding may be enough for a while!
— vitalik.eth (@VitalikButerin) May 3, 2022
Ryan Adams, founder of Mythos Capital and co-founder of Bankless podcast, tweeted in favor of ETH. He called for a vote in support of the blockchain, saying that fees have decreased over time.
On the other hand, Ethereum founder Vitalik Buterin commented on the post, urging measures to reduce transaction fees. He suggested a solution to the need for a transaction to be less than ‘truly acceptable $0.05’. Buterin lamented the application of protodanksharding to help with gas bills.