Ethereum (ETH -4.99%). Founder Vitalik Buterin recently confirmed that Ethereum will complete its integration into the Proof of Stake blockchain in August of this year if everything goes according to plan.with this Motley Fool Live Part of “The Crypto Show” Recorded on June 1stFool.com contributors Jon Quast, Chris MacDonald, and Travis Hoium are considering how this change will affect investors.
John Quast: Therefore, Ethereum merges. I’m sure they both saw this. Perhaps now, as we all know, Ethereum is its entire existence and the blockchain of Proof of Work. BitcoinResolves this hash problem and goes through the entire conflicting consensus mechanism. It consumes a lot of energy. It can be slow and can cause scaling issues. They are moving to the Proof of Stake blockchain. They have been working on it for years.
At the Web3 Developer Summit on May 20th, a particular Ethereum developer actually announced the merger. They expect the merger to take place in August, after which Ethereum founder Vitalik Buterin comes out to confirm it. This is probably a big deal as long as everything is planned, as everything is going well, but if everything is planned, yes, August should be when this merger is completed. They have already started a very important test run here. Ropsten, I think so. TestNet started two days ago and the actual merging process in TestNet is supposed to start tomorrow. Leave it for a moment. Is there anything you would like to add here? This seems like a huge step towards the realization of this merger.
Chris McDonald: Yes, it is. There is a series of mergers that need to take place. I think the problem with the term Ethereum Marge is just that the user or investor is actually talking about the final merge that will take place in August. However, I think this merge is due to RopstenTestNet running. I think we need two more mergers before the final merger with the Beacon Chain takes place. Yes, it’s definitely an interesting process and we’ll see how this works. I didn’t expect it tomorrow, so it’s very interesting. I think there are many points to note in the future.
Travishoium: I’m looking forward to seeing if there are any performance issues.Get them Solana In a little, but you can test everything you want. Unexpected things will always happen. This is interesting because I think the goal of everyone involved is to make the Ethereum blockchain more scalable, cost effective and consume less energy. For many, this has a lot of vehicles.
John Quast: Indeed, it’s interesting to read the entire Ethereum official blog post about what’s really technically happening tomorrow and the days after. There’s a lot to enter by these developers and make sure they’re all running exactly the same, and there’s a set of events at the right time. It’s not just about going ahead and pressing a button. No, this should happen. Then this needs to happen and everyone needs to be on the same page throughout.It’s really on my head, I don’t participate [laughs] In this test net. That’s for sure.
