Ethereum Completes Major Test! Takes One Step Closer To Merge

Yesterday - Monday, April 11, 2022, Ethereum completed a successful merge test. This brings it one step closer to upgrading its entire mainnet to the Beacon chain.

Although it was a success, the team over at Ethereum did say there were a few minor issues that it hopes to iron out in its next test set for April 22, 2022.

Everyone is anticipating the final merge, which some speculate will be in June.

Although there are many speculations, there has been no confirmation of any date from the team at Ethereum.

For the past few years, Ethereum has been planning to transition its network from a Proof of Work to a Proof Of Stake model.

Proof of work requires an extreme amount of energy to be spent in order to construct a block. This has adverse effects on our environment because it creates a large carbon footprint.

Whereas proof of stake requires cryptocurrency to be staked - which uses randomly selected miners to validate transactions.

The transition to proof of stake will significantly reduce Ethereum’s energy consumption, which will significantly reduce its carbon footprint, and help out our environment.

The Beacon Chain is known as a brand-new - proof-of-stake blockchain. It can be poetically described as the backbone that supports the new Ethereum 2.0 system.

When Ethereum merges with Beacon Chain there will be no more need to mine Ethereum.

So, my prediction is that the rewards that once were given to miners will indeed be given to those who stake the cryptocurrency - in the form of higher yield rates.

Overall, this is an exciting time to be in the crypto space!