01/09/2022
📉 TankMetverse Crypto News 📉
Trending News: The launch of Ethereum Merge is planned for September.
⚡️ The much-awaited Ethereum transition from the proof-of-work (PoW) consensus algorithm to the proof-of-stake (PoS) mechanism received a massive boost on Thursday following the lunch of Goerli, the final testnet. This merge took place on Wednesday around 9:45 p.m ET.
⚡️ To secure the network in a completely new way, Ethereum has been trying to put in place "Proof-of-Stake." Users must use their current Ether cache when using this new technique to verify transactions and mint tokens.
⚡️ With this method, users won't need to rely on energy-intense mining. It consumes a great deal less energy and results in quicker transactions.
⚡️ With the recently completed Goerli merge, Ethereum developers have established tentative, official scheduling for the merge on September 15th. The date was decided on Thursday during a Consensus Layer Call of the Ethereum Foundation.
⚡️ On Thursday, developer Tim Beiko tweeted the number 58,750,000,000,000,000,000,000. This represents the Total Terminal difficulty value of Ethereum's blockchain at the time of the merge. It is expected to reach this value between September 15th and 16th.
⚡️ According to CoinGecko, Ether reached a 24-hour high of $1,912 following the Goerli merging activation. ETH price has been rallying since the reveal, representing 50% of Bitcoin's market cap.