Ethereum is Unlikely to Merge in June, Despite the PoW's Suspension

　　According to Ethereum principal developer Tim Beiko, the much-anticipated Ethereum merging will not take place in June as scheduled.

　　Beiko took to Twitter and tweeted:

　　“It won't be June, but likely in the few months after. No firm date yet, but we're definitely in the final chapter of PoW on Ethereum.”

　　This revelation comes only days after the Ethereum mainnet's first shadow fork, which acted as the merging trial, went live.

　　According to Ethereum Foundation developer Parithosh Jayanthi, the shadow fork was intended to stress test the ETH network's synchronization and state growth.

　　The merger will serve as the Ethereum ecosystem's largest software upgrade, migrating from the existing proof of work (PoW) consensus method to a more cost-effective and environmentally friendly proof of stake (PoS) consensus mechanism.

　　Additionally, validators will assume the function of miners in terms of block confirmation based on the amount of ETH staked, serving as collateral against dishonest behavior.

　　Despite the fact that the Ethereum network's PoW consensus mechanism is nearing completion, Beiko did not provide an exact date for the merge, but speculated that it will occur a few months after June.

　　A switch to PoS will increase scalability on the ETH blockchain by enabling improvements such as sharding.

　　The merger is eagerly anticipated since it will aid Ethereum's goal to become a deflationary asset. Its value is projected to continue increasing over time as a result of the dwindling availability.

　　According to CoinMarketCap, the second-largest cryptocurrency was up 1.97 percent to $3,108 during intraday trade. Ethereum hit an all-time high (ATH) of $4,850 in November last year, but has yet to recapture that level this year.

　　As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

　　iOS: t.ly/UUCj

　　Android: t.ly/cfYt