One of the world’s largest blockchains Ethereum is testing a new way to approve transactions. It will merge the existing Ethereum mainnet with the Beacon chain of the Ethereum 2.0 system. It is planned for launch in the second quarter of 2022. However, an exact date has not been disclosed.
Logical month for the merger
It is expected that after some reshuffling, dubbed ‘Eth2’ or now ‘consensus layer’, it may finally have a firm launch date.
One Reddit member (u/superphiz) from the r/ethsaker community predicted that it would happen in June of this year. In an extensive post on Redditu/superphiz outlines the following five reasons why June is a logical month for the merge.
Furthermore, on February 19, Ethereum researcher and implementation organizer Danny Ryan explained that the merger was very close. Ryan quoted†
“It’s actually very close. I think that he [the difficulty bomb] will be impeccably timed. The difficulty bomb will go off, sometime in June, start to feel it sometime in July.”
Especially during the Consensus Layer Call #83 on March 10, discussions surrounding the launch of the Kiln Tesnet implied that the ‘merger’ could happen soon.
The Kiln testnet was intended to be the last major testnet before the merger. And it should take three months. In addition, Marius Van Der Wijden announced the launch of Kiln’s public merge testnet. A Reddit user pointed out the importance of this announcement by making the following statement:
It’s time to go #TestingTheMerge goes again! We have turned the oven 🧱🔥 test net to test #Ethereum‘s upcoming move to proof-of-stake (this should be the last testnet before we start merging Ropsten, Rinkeby, Goerli, etc.).
This thread explains how *YOU* can get involved 🚀🚀🚀 pic.twitter.com/XthSZN8L2e
— MariusVanDerWijden (@vdWijden) March 10, 2022
he continues claimed†
“Anyone who has seen these events before knows that those test nets are being put together into a product ready for launch. While I don’t know the planned timing for those testnet launches, it’s quite reasonable to expect a two-week delay between each testnet merge.”
Is it worth the wait?
More than 10 million ether (ETH) is locked on Ethereum’s Eth 2.0 staking contract prior to a planned upgrade. It was worth about $25.5 billion at the time of going to press.
In fact, there was a spike of ether this month deposits on the Eth 2.0 contracts after a relatively lean spell in January and February this year.