Ethereum’s Merge will no longer happen in June, new date unknown

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Ethereum’s high­ly antic­i­pat­ed tran­si­tion to a Proof of Stake (PoS) con­sen­sus that is antic­i­pat­ed to be live in June is set to be shift­ed to an unknown date, this was revealed by Tim Beiko, one of the lead devel­op­ers on the project.

Ethereum’s transition to PoS postponed from June

Accord­ing to a tweet from Beiko, Ethereum’s Merge will not hap­pen in June but it is like­ly going to hap­pen “in a few months after.”

The state­ment was made in response to a ques­tion from an Ethereum min­er on whether the min­ing com­mu­ni­ty will have more time or the plug would be pulled for Proof of Work (PoW) min­ers in June. 

Beiko went on to advise min­ers not to invest in more min­ing equip­ment as the tran­si­tion is just a few months away.

Ethereum’s final tran­si­tion to a PoS net­work will mark the end of min­ing on the blockchain, this is some­thing that the Ethereum foun­da­tion has promised for years. 

With the new con­sen­sus mech­a­nism, min­ers would give way to val­ida­tors who would become respon­si­ble for con­firm­ing trans­ac­tions on the net­work. This move is expect­ed to help Ethereum become more scal­able and at the same time cut down on its ener­gy use.

When will the Merge actually happen?

But the new post­pone­ment of the Merge has raised oth­er ques­tions. Many spec­u­late that the tran­si­tion might be delayed for more than just a few months. This plays into the trope of the past promis­es about the switch.

A min­ing pool oper­a­tor on the Red­dit forum for Ethereum min­ers wrote that they’ve been “review­ing the code and run­ning nodes on the merge test­nets, (and it doesn’t look like) they will be ready until 2023.”

On the cryp­tocur­ren­cy sub­red­dit, anoth­er user added that “It’s kind of a run­ning theme in the ETH min­ing com­mu­ni­ty how proof of stake has been ‘almost here’ for years now, but this time it’s true we are near­ing the end.”

Oth­ers also share this same belief, includ­ing Cana­da based min­ing firm, Hut 8. Its Vice Pres­i­dent of Cor­po­rate Devel­op­ment and Investor Rela­tions, Sue Ennis, said in Feb­ru­ary that the firm is close to the Ethereum devel­op­er com­mu­ni­ty and infor­ma­tion reach­ing them is that PoS is still far off.

If The Merge doesn’t hap­pen as sched­uled, it would be a huge dis­ap­point­ment to the com­mu­ni­ty con­sid­er­ing the amount of delays the tran­si­tion has wit­nessed in the past. Plus, the delay would also give oth­er smart con­tract ‑enabled blockchain net­works an oppor­tu­ni­ty to rival Ethereum’s dom­i­nance of DeFi and NFT.

Symbiosis



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