Updated · Sep 26, 2022
Ethereum Completes Final Testnet Merge on Goerli
Updated · Aug 12, 2022
Goerli successfully transitioned to the proof-of-stake consensus mechanism late on Wednesday.
Final Dress Rehearsal
Ethereum has gotten much closer to a full transition to proof-of-stake (PoS). At around 9:45 pm ET, the Goerli testnet successfully underwent a merge, officially becoming a PoS blockchain.
Goerli is the third and final testnet to go through the integration necessary to move Ethereum from the much-maligned proof-of-work (PoW) mechanism. It follows the adding of Merge support to the Ropstein and Sepolia testnets.
The move will do away with the enormous computational power required to validate transactions, cutting down energy consumption by as much as 99%. It will also vastly increase speeds and boost scalability.
As it stands, the tentative September 19 Merge date for the mainnet Ethereum blockchain is set to stay in place. The upgrade has suffered several postponements over the years to allow for more research, development, and implementation.
While many have hailed the transition of Ethereum to PoS, it has left some community members disgruntled. Some of them plan to create a hard fork, with a native token ETHW already trading across some crypto exchanges.
Co-founder Vitalik Buterin says he is not very concerned about the potential adverse effects of a fork. According to Buterin, most community members are supportive of the planned upgrade and said he hopes dissenters don’t lose their money.
Daniel is an Economics grad who fell in love with tech. His love for books and reading pushed him into picking up the pen - and keyboard. Also a data analyst, he's taking that leap into data science and machine learning. When not writing or studying, chances are that you'll catch him watching football or face-deep in an epic fantasy novel.
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