Ethereum Foundation Confirms Mid-September Date for “The Merge”

Ethereum 2.0 is just around the corner, with “The Merge” a major change to the protocol of the second most important global cryptocurrency. The Ethereum Foundation has now confirmed details of the September schedule.

“The Merge” at Ethereum (ETH) is currently the big topic in the crypto scene. This is because Ethereum wants to implement a protocol change with “The Merge”; instead of “proof-of-work” with miners, ETH’s blockchain will be based on “proof-of-stake” with staking in the future. In the short term, this will bring a 99.5 percent reduction in energy consumption in Ethereum’s network, which is important if only because Bitcoin’s (BTC) energy efficiency with proof-of-work is coming under increasing criticism. There is now a new blog post from the Ethereum Foundation on “The Merge” that makes previous information official.

Thus, from a technological point of view, “The Merge” will go over in two stages. On September 6, the update “Bellatrix” will be released for Ethereum. A few days later – predicted to be between September 10 and 20 – the final piece for “The Merge” will go live with update “Paris”. Since the exact start date for “Paris” depends on when a predetermined hashrate on Ethereum triggers the mechanism, a precise prediction is not possible. However, experts assume September 15 or 16. About 12 minutes after update “Paris” proof-of-stake on Ethereum will be final the protocol and the directly expected effect of tremendously higher energy efficiency will occur.

From the perspective of Ethereum investors, there is little to do in the normal case. All major crypto exchanges will support “The Merge” and inform their customers. Even those who stake ETH via large providers such as Lido or Coinbase will probably not have to worry about anything. However, if you are running an Ethereum node and/or staking ETH on your own, you will need to enable updates with the software, according to the Ethereum Foundation.

Conclusion: Ethereum 2.0 in sight – how will the market react?

Around “The Merge”, there should predictably be action on Ethereum looking to profit through windy methods. We have summarized important information for you here.

It is also important to note that “The Merge” will not initially bring Ethereum low transaction fees and/or access to ETH stored in the beacon chain, as is often erroneously assumed. These steps will follow with further updates in 2023 at the earliest.

This is another reason why many in the crypto industry believe “The Merge” is currently priced into Ethereum. On the other hand, a successful launch of Ethereum 2.0 would prove that a cryptocurrency with hundreds of billions of US dollars in market capitalization can manage a fundamental protocol change smoothly. Here, momentum is building for ETH, which will make differences with Bitcoin even more obvious than before. This could have a lasting positive impact on Ethereum’s price curve – this assumption can hardly be dismissed out of hand.

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