Preparation for the final launch of the long-awaited Ethereum upgrade, the Merge, is getting on the higher side. For the past few months, the entire Ethereum ecosystem has been thrown into a state of activeness. There are now last-minute touches made for the Merge launch on September 15.
ETH has been working towards its transition to a Proof-of-Stake blockchain. The move would completely transform the Ethereum mainnet to operate with a PoS consensus mechanism that requires staking. Hence, users can conveniently stake their ETH according to the blockchain rules.
Recall that ETH rolled out the Beacon Chain as the engine that powers the network. Through the Beacon Chain, customers have been staking their Ether. But the Ethereum mainnet is still running using the Proof-of-Work mechanism that requires mining for its sustainability.
Hence, the Merge is the complete process that would merge the mainnet and the Beacon Chain for the Ethereum ecosystem.
In a new development, ETH clients released updates that mark part of the last steps for the launch. But there’s a shocking discovery of bugs in the mainnet update of the ETH clients, the Nethermind and Go ETH. While the former has the bug in v1.14.0, the latter has it in Geth v1.20.22 (Promavess).
As the anticipation for the Merge is surging, most Ethereum clients have released the necessary updates to facilitate the mainnet updates. These are Geth v1.10.22, Besu v22.7.1, Nethermind v1.14.0, Teku v22.8.1, Prysm 3.0.0, Lighthouse v3.0.0, and Erigon v2022.08.02-alpha.
Reports on the situation indicated that the discovery of the bugs would not influence the Merge between the Ethereum Mainnet and the Beacon Chain. Hence, the set date launch will still be on September 15. There are possibilities for customers to switch to other execution clients while the preparation for the Mainnet Merge continues.
In a tweet on August 23, Peter Szilagyi, an Ethereum developer, disclosed a regression bug in the Geth v1.10.22 (Promavess). Szilagyi noted that it could be one of the pull requests (PR) that the blockchain team merged to the new storage model or online pruner. He stated that they are working to handle the bug.
Following the tweet of Szilagyi was a response from ‘DanielC,’ a Nethermind core developer. He stated the discovery of a similar regression bug in the release of v1.14.0. However, the team quickly fixed the problem by switching to a strict stabilization phase before the float of the Merge.
Recently we've had similar regressions in @nethermindeth so we've decided to switch to a strict stabilization phase before #TheMerge. We merge only fixes to the master branch currently. https://t.co/erzgN1Z0wV
— DanielC (@_D4nie1_) August 23, 2022
There are still progressive plans for Bellatrix and the Paris upgrades for the Merge. Also, Ethereum developers are earnestly hoping for the TTD of 58750000000000000000000 that will activate the Merge. Additionally, the Ethereum hash rate has hit the expected average of 872.2 TH/s which is strong enough to trigger the Merge.
Featured image from Pixabay, chart from TradingView.com
StarkWare, specialising in cryptographic-proof systems with ZK-STARK technology, recently set a new proving record. Their latest prover claims to be 1000 times better than the current one, with production planned for early 2025.
CatherineRenzo is a restaking protocol built on the Ethereum blockchain. It allows users to easily stake their ETH and earn rewards from EigenLayer. Renzo has a strong founding team and is backed by Binance Labs, but its REZ token has experienced a recent price decline.
WeatherlyScandal-hit Filipina mayor denies espionage claims, faces investigation and party expulsion amid massive fraud allegations.
Alex丑闻缠身的菲律宾市长否认间谍指控，在大规模欺诈指控中面临调查和开除党籍。
AlexFriend.Tech has seen over $1M TVL loss in less than 24 hours. And plans to leave the Base network for its own chain, followed by news of a reversal, further destabilised the FRIEND token, hitting a new all-time low. Is it time to say goodbye to Friend.Tech?
KikyoSouth Korea's new crypto monitoring system, launching July 19, aims to curb illicit activities and enhance market oversight, potentially impacting global crypto markets amid concerns over altcoin delistings and investor protection.
JoyIlya Sutskever, co-founder of OpenAI, left amidst disagreements over AI safety priorities, leading to the founding of Safe Superintelligence Inc. (SSI) in June 2024, focusing on developing safe superintelligence with a streamlined approach and a select team.
AnaisAlexPixelverse's PixelTap game integrates a tap-to-earn model on Telegram, recently adding TON blockchain support for in-game transactions and $PIXFI token interactions, aiming to enhance player engagement and value creation within its cyberpunk universe. With rapid user growth, community events like Pixelfest, and substantial backing from investors, Pixelverse is positioned to expand as a prominent player in blockchain-based gaming and entertainment.
WeatherlyEthena made history with its USDe surpassing $3B just four months after launch. Its Sats campaign will continue until 2 September or until USDe supply reaches $5B. However, the ENA token has declined over 50% in the past month. Will Ethena's USDe follow the path of other high-profile stablecoin collapses?
Catherine