Grand event this Month for Ethereum with the Merge happening soon transitioning it into a POS chain!!

Image by Satheesh Sankaran from Pixabay

Ethereum’s special day with the Merge now certain to happen very soon

Wow… The Ethereum Network as we have known for so long is changing with its transition from Proof of Work Consensus mechanism to Proof of Stake taking place for real within this month of September!!

Yes, news about The Merge has been flashing in the crypto news media for a while, but it’s almost certain to happen now, without major delays, so this feels like a major milestone has been reached in the eyes of the crypto community.

Remembering the old times when DEFI was a baby building in the Ethereum Blockchain

Oh yes, I feel rather old in the crypto space, having known it since 2018, as I've watched Ethereum shoot from 44$ to 2000$!! This was the time DEFI was a baby, with Uniswap and Compound coming up.

Then for a long time, the Ethereum community were waiting for Layer 2 scaling solutions because in 2020 Ethereum fees were unbearable and unaffordable for small retailers to practically use the Ethereum Blockchain.

Now in 2022, September month, Ethereum is evolving into a more scalable Blockchain as it transitions into a POS chain.

Ethereum survives and is here to stay with so called Ethereum killers not succeeding in killing Ethereum

I have heard schools of thought that Ethereum will be killed by Ethereum killer Blockchains but the early POS Blockchains like EOS and Tron failed to beat Ethereum.

In the current era of modern POS Blockchains like Polkadot and Cosmos, Ethereum killer tags are non-existent, as the focus is on intereobility where Ethereum will continue to exist alongside other new thriving POS Blockchains.

The reason for this is because even though it has taken such a long time for Ethereum to transition into POS, no other Blockchain has surpassed Ethereum in the number of Dapps it houses, they were too late to be mature enough to compete with Ethereum that’s been around since 2015 and early DEFI dapps like Uniswap were functional there since since 2018!!

So ultimately, Ethereum has continued to remain relevant in the Blockchain space with no Ethereum killer Blockchains managing to kill it. And add to it, Ethereum’s transition into a POS Blockchain with the Merge, is definitely a grand event and it should be celebrated as its a significant event in the Blockchain space for the crypto community!!

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Details of the Merge that transitions Ethereum into a POS State Chain

Upgrades in the Ethereum Network for that ultimate Merge phenomenon explained

Ethereum’s Merge is scheduled to happen within September, it involves two phases, with node operators requiring to upgrade both Ethereum’s Execution layer(EL), that’s the Ethereum historic State Chain and Ethereum’s Consensus Layer(CL) that’s Ethereum’s Beacon Chain.

Bellatrix upgrade on Ethereum’s execution layer scheduled for September 6th!!

The first phase will evoke the Bellatrix upgrade on Ethereum’s Consensus Layer when epoch height of 144896 sets in, which is expected to happen on September 6, 11:34:47 am UTC.

Paris upgrade would transition Ethereum into a POS state chain

Then the ultimate upgrade that will set about the migration of the Ethereum Network from POW to POS state chain will happen on Ethereum’s Execution Layer. The Paris upgrade will be triggered on EL when the Total Difficulty threshold or the Terminal total Difficulty (TTD) hits the range of 58750000000000000000000.

As TTD hits or exceeds the range of 58750000000000000000000 in Ethereum’s Execution Layer, the Paris upgrade is triggered and the following Block will be produced by a Beacon Chain validator. This Merge transition is considered finished when this first post TTD Block produced in Beacon Chain gets finalised aka validated in the Beacon Chain!!

The date for the Paris upgrade is contingent upon TTD reaching the needed range

The Paris upgrade date will depend on when TTD hits the required range of 58750000000000000000000. As to when TTD will touch this range depends on hash rate, more amount of hash rate securing the Ethereum Network will trigger more increase in Network difficulty ultimately triggering this grand difficulty bomb that will set about Ethereum’s Merge transition from POW to POS State Chain.

This ultimate Paris upgrade can be expected to happen any time between September 10th to 20th. The estimation timer links for this TTD that would trigger the Paris upgrade at bordel.wtf and 797.io/themerge show that this range of TTD would arrive between a time period between September 14th and September 15th.

So, Ethereum enters a new phase and in these coming days, the crypto community are excited about the Merge. Hopefully, this transition takes place nicely without any major issues and post Merge, hopefully a more scalable Ethereum comes forth after this.