The bullish trend continued from Friday after a core Ethereum developer published a timeline for the eagerly anticipated “merge.”
Today’s price of Ether has been growing, extending a rise that began after a tentative schedule for the switch from proof-of-work to proof-of-stake on the underlying Ethereum blockchain was revealed.
Tim Beiko of the Ethereum Foundation estimated that the so-called merge, or switch to proof-of-stake, may occur in the middle of September. One of the updates from a developers’ call focused on the merge, which would change the consensus mechanism for the cryptocurrency, was the projection for September.
The upgrade to Gray Glacier was announced in a blog post on June 16 by Beiko, the community manager at the Ethereum Foundation. The post states that on June 29, the upgrade was intended to go live at block 15,050,000.
The launch of the “Gray Glacier” network upgrade on the mainnet allowed for the long-awaited transition of the Ethereum blockchain to a proof-of-stake consensus mechanism.
Ethereum users do not need to take any extra steps to accept the upgrade unless their chosen exchange or wallet provider specifically instructs them to do so according to the report.
One of the most anticipated events in the cryptocurrency world has been The Merge, Ethereum’s complete transition from a PoW to a PoS consensus algorithm.