Ether, one of the world's largest blockchains, is testing a new method of approving transactions. It merges the existing Ethernet mainnet with the beacon chain of the Ethernet 2.0 system. It is scheduled to launch in the second quarter of 2022. However, the exact date has not been disclosed.
Merged logical months
It is expected that after some reshuffling of releases, "Eth2" or "Consensus Layer" as it is now called, may finally have a fixed release date.
A Reddit member of the r/ethstaker community (u/superphiz) predicts that this will happen in June of this year. In a detailed post on Reddit, u/superphiz outlines the following five reasons why June is the logical month for the merger to happen.
In addition, on February 19, Danny Ryan, Ether researcher and implementation organizer, explained that the merger is very close. Ryan quoted.
“Actually, very close. I think he is [the difficulty bomb] is going to be impeccably timed. The difficulty bomb will be detonated sometime in June, sometime in July, and it will start to be felt.”
Notably, during the 83rd Consensus Level Conference Call on March 10, discussions around Kiln Tesnet's launch hinted that a "merger" could happen soon.
The Kiln test network was supposed to be the last major test network before the merger. Moreover, it was supposed to run for three months. In addition, Marius Van Der Wijden announced the launch of the Kiln public merger test network. A Reddit user pointed out the importance of the announcement with the following statement.
Time to get #TestingTheMerge running again We launched the Kiln 🧱🔥 test network to test #Ethereum’s upcoming proof of stake (this should be the final test network before we start merging Ropsten, Rinkeby, Goerli, etc.).This thread explains how *you* can get involved 🚀🚀🚀 pic.twitter.com/XthSZN8L2e
He further asserted.
“Anyone who has observed these events previously will know that these test nets have been merged with products that are ready for release. While I do not know the planned timing of these test net launches, it is very reasonable to expect a two-week delay between each test net merger.”
On March 11, the configuration of the Kiln test network was announced. Finally, the above-mentioned difficulty bomb is expected to "explode" around June 2022. In response, Reddit users wrote.
Is it worth the wait?
Prior to the planned upgrade, Ether's Eth 2.0 pledge contract locked in over 10 million Ether (ETH). As of press time, it is worth approximately $25.5 billion.
Source: Dune Analysis
In fact, Ether deposits on Eth 2.0 contracts rose sharply this month after a relatively weak period in January and February of this year.