The Ethereum merge and transition to Ethereum staking is one of the most widely anticipated crypto events, but when is the Ethereum merge date?
Set to push ETH closer to the Ethereum 2.0 release date, the particular process will allow the network to change its mechanism and adopt the PoS consensus, which uses the element of Ethereum staking.
Ethereum's PoS transition plays a critical role in slashing the heavy computational power that PoW notoriously wields while processing crypto transactions.
Ethereum Merge Date
After many deliberations, the Ethereum devs and community folks have now penned a new tentative date for the Ethereum merge.
The Ethereum merge date and transition to proof-of-stake is expected to take place on September 15th or September 16th.
This date comes from Ethereum developer Tim Beiko, who tweeted the block that the merge will take place at - 58750000000000000000000.
The given timeline is not guaranteed, however. Ethereum 2.0, and the Ethereum difficulty bomb, for example, have been massively delayed several times.
Meanwhile, Goerli Tesnet is now live on Ethereum, which was labeled as one of the last updates before the network undergoes the merge event.
Ethereum Merge Price
Users are expecting that the merge may drastically lower the gas fee prices, rendering them to access ethereum without paying additional prices alongside the fact that the merge will accelerate the processing time of Ethereum 2.0 transactions per second.
However, according to Defi researcher Vivek Raman, the merge will not affect the prices of Ethereum gas as it will only impact its functioning mechanism, helping the blockchain transform to PoS consensus.
Alongside this, ETH holders are speculating about the impact of the Ethereum Triple Halving on the price.
What is Ethereum Merge?
The Ethereum merge will see the combination of the current Ethereum blockchain with the new Beacon Chain as part of the overall network upgrade.
The Beacon Chain supports staking and will mark the shift away from mining and proof-of-work.
Putting it more bluntly, Ethereum mining will no longer exist. It will all run through Ethereum staking.
However, as Ethereum states, this will not be Ethereum 2.0 in a new cryptocurrency sense. The history from the original mainnet will remain, as explained:
No history is lost. As Mainnet gets merged with the Beacon Chain, it will also merge the entire transactional history of Ethereum. You don't need to do anything. Your funds are safe.
This won't be the final update to this next stage of Ethereum. Sharding and other updates will continue to roll-out.