Ethereum is Ready for The Merge!

The successful completion of the last shadow fork signaled that the Ethereum network is ready to move to a proof-of-stake consensus mechanism.

Ethereum (ETH) developers have confirmed the successful completion of the prerequisites (shadow forks) required for the highly anticipated blockchain upgrade The Merge. Shadow forks help developers stress-test synchronization assumptions to ensure network security during permanent upgrades. In light of The Merge, Ethereum developers launched the first shadow fork on April 11, 2022. Nearly six months later, Ethereum research and engineering company Nethermind confirmed the successful migration of the last shadow fork, Mainnet-Shadowfork-13, signaling that the network is ready to move to a proof-of-stake (PoS) consensus mechanism. https://twitter.com/nethermindeth/status/1568165172908261377 The testnet allowed Ethereum developers to practice running nodes, deploying contracts and testing the infrastructure, among other functions. As a result, shadow forks allow developers to measure the effects of network upgrades before they happen. As part of the upgrade, the community needs to update Ethereum clients and run a combination of an execution layer and a consensus layer. Alexander Höptner, CEO of crypto exchange BitMEX, emphasized the need for extreme caution during the Ethereum upgrade to avoid service disruptions. Speaking to Cointelegraph, Höptner said: "Let's say you have to be vigilant and see what happens. There is a possibility of high volatility. So you have to make sure your services are up and running. [We] don't expect any major disruptions other than volatility." The CEO also noted that the success of The Merge will depend on the support of the community. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!