Ethereum Merge Confirmed For September

Key Takeaways

• The Ethereum Foundation has released finalized updates regarding the forthcoming merge to Proof-of-Stake.
• The upgrade will consist of two separate upgrades that must be executed in a specific order—Bellatrix and Paris.
• The merge has been delayed several times and is said to be the "most significant upgrade" in Ethereum's history.

The Ethereum Foundation has released new information about the upcoming upgrade to Proof-of-Stake. “The Merge,” as the anticipated event is known, is scheduled for September.

Merge Imminent

The Ethereum Foundation has released updates regarding the path toward the highly-anticipated “Merge” to Proof-of-Stake, indicating that preparations are going smoothly.

According to an announcement on the Ethereum Foundation’s blog, the transition will require a two-step upgrade. The first upgrade, called Bellatrix, is scheduled for epoch 144896 on the Beacon Chain, expected Sept. 6. This upgrade will execute on the Beacon Chain.

After that, a second upgrade, Paris, will be triggered when a specific Total Difficulty threshold is crossed, sometime between Sept. 10 and 20. This second upgrade will be the one merging the two chains. Node operators must update consensus and execution layer clients to migrate to the new ecosystem successfully.

The merge refers to a planned upgrade to the Ethereum ecosystem in which the network’s Proof-of-Work chain (also known as the “Ethereum Historic State”) will “merge” with the Proof-of-Stake Beacon Chain, which currently runs alongside the traditional Ethereum Chain. Once the merge is complete, the Beacon Chain (also known as the “consensus layer”) will validate blocks on the network. Among other advantages, the upgrade is expected to reduce Ethereum’s energy usage by over 99%.

The merge has been years in the making, and enthusiasm has reached a fever pitch in 2022 as the oft-delayed event has inched closer to reality. The merge on the Goerli testnet, said to be the final “dress rehearsal” for the merge, was successfully executed earlier this month and sent a signal throughout the crypto community that the fabled upgrade was imminent.

In response, the price of ETH rallied throughout much of August before cooling off last week. JP Morgan even predicted that the crypto market had “found a floor” thanks to the upgrade enthusiasm.

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