Ethereum’s public testnet Sepulia is now the second major testnet to implement the long-awaited merge upgrade. This brings the entire protocol closer to changing its consensus mechanism from Proof of Work (PoW) to Proof of Stake (PoS).
- The upgrade involved “merging” the existing Sepulia PoW series with the POS-based Beacon series. The Beacon Chain – or “consensus layer” – launched in December of 2020, and still cannot be used for any reason other than to stake ETH.
- The upgrade took place at 2 p.m. UTC on Wednesday, when node operators on both the PoW and PoS chains collaboratively upgraded their software.
- This experiment was to test whether validator nodes from each chain were compatible. A similar test was run on Ethereum’s Ropsten testnet in early June and was mostly successful.
- Terence Tsao – an Ethereum core developer – Abbreviation That Wednesday’s upgrade was also successful.
- However, due to misconfiguration, about 25%-30% of validators went offline immediately after the merge. They have since applied the appropriate updates.
“There are no client bugs. These bottlenecks will not delay the merger,” he explained.
- Converting Ethereum to Proof of Stake is expected to make the network more efficient with respect to both its energy expenditure and transaction speed.
- At the moment, it is quite common to see Ethereum transactions fail. More than 1 million transactions that had already been paid for failed to process in May alone.
- Bitcoiners are more hesitant to convert their networks to a POS mechanism, believing that the model is prone to corporate capture. However, Rostin Benham, the head of the CFTC, wants to encourage this move through smart mining regulation and incentives.
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