Vitalik Buterin explains what to expect after the merger this summer, ahead of the PoS upgrade.

At the ETH Shanghai Web 3.0 Developers Summit on Thursday, Ethereum co-founder Vitalik Buterin confirmed that the merger is likely this summer, despite several pushes in the past.

After about 7 years of trying to switch to a proof-of-stake, buterin finally fist At this point, the merge is ‘almost likely’.

Merge months: August, September or October

The co-founder said, “If there are no problems, the merger will take place in August. But of course there is always the risk of problems. There is also the risk of delay. So September is possible and October is possible.”

In other words, Ethereum developers have already set the date of the largest testnet merge on the Ropsten network to be June 8th.

“This is going to be a major test, bigger than anything we’ve done before,” Buterin said. With Proof of Work, we are turning a large traditional test network with many applications into Proof of Stake.”

Therefore, Ropsten’s success in PoS transition will fundamentally determine the merger schedule this year.

Post-merger roadmap

According to the Ethereum roadmap shared by Buterin in December 2021, the Beacon Chain has been around for about 1.5 years and is paving the way for a PoW-to-PoS transition.

Beacon Chain introduced a proof-of-stake mechanism to the Ethereum ecosystem in December 2020.

Source: Vitalik Buterin/Twitter

Buterin also acknowledged that a significant London hard fork as part of Ethereum Improvement Proposal-1559 was executed in August of last year. Considering Ethereum’s gas rates, this was one of the biggest challenges for the network to transition to.

Andreessen Horowitz’s Latest Crypto Status report Ethereum prioritized decentralization over scalability, which over time has benefited Ethereum killers.

In particular, A16z called Ethereum’s popularity a “double-edged sword.” However, despite these challenges, reports indicate that the network is now a leader with around 7 million and 50 million active users.

According to Buterin’s roadmap, after the merger, Ethereum will focus on scalability via Sharding before introducing further improvements via The Verge and The Purge. Steps to improve validation and reduce data burden on nodes.

However, Canadian programmers do not believe that every step of the roadmap must be achieved.

Source: Vitalik Buterin/Twitter

“So my personal opinion is that if we have The merge and we have Surge and nothing else, Ethereum would still be a great system,” he said.

“But I think we can get Verge, Purge, and these other improvements as well. [The Splurge]Then Ethereum will be a much better system,” Buterin added.

So, the project will focus on the shard chain after merging, distributing the network load across 64 shards.

Entire crypto ecosystem

According to Buterin, the crypto space, including the Ethereum space, has ‘too much focus on financial applications’ over the past few years. “I think financial applications are good and important, but financial applications are also risky,” he said. It adds further that people work too hard to optimize.

Meanwhile, the recent development of the cryptocurrency market after the collapse of the Terra ecosystem is also raising concerns about Buterin.

Also comparing the 2008 financial crisis to the Defi ecosystem, Buterin emphasized that the system needs to think hard about its resilience rather than trying too hard for efficiency.

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