Ethereum Merge to Proof-of-Stake May Be Coming Earlier Than Expected

The long-awaited Ethereum Merge is expected to be finally released on the 15th or 16th of September. This news is based on a call with core Ethereum developers, and especially Anthony Sassano’s announcement on Twitter. 

“The Ethereum mainnet merge has been tentatively scheduled for around September 15th/16th. The Merge is coming”, wrote the co-founder of the Ethereum research website EthHub. 

The main point of the blockchain’s upgrade to ETH 2.0 is that Ethereum will start operating on a proof-of-stake (PoS) instead of a proof-of-work (PoW) consensus model. This is a significant change because it provokes the work of the basic structure of the network, and, of course, it will have an impact on the network’s users. At present, there are two questions of the hour that are of interest to all Ethereum holders: the Ethereum Merge price and the Ethereum Merge NFT impact. 

As it comes with all novelties and changes, there are different opinions of the community on Ethereum Merge. 

It’s expected that with the PoS model implementation, the speed of the transaction will increase as well as the fees will become lower. What’s more, the Merge will make an impact on energy consumption, namely will reduce it by up to 90 percent.

As NFTs are one of the biggest contributors to Ethereum’s revenues, the Merge will definitely affect them. One of the main concerns in the community is that two versions of NFTs would exist once Ethereum’s shift to a PoS network is complete. 

According to NFT archaeologist, Adam McBride, after the shift to the PoS network, the PoW network would still be workable. It means that NFT owners could encounter a so-called replay attack. 

When it comes to a good impact on NFTs, analysts say that it will be easier to mint and maintain NFTs with an Ethereum PoS model. 

Currently, there are two steps left on the way to Ethereum’s shift to a proof-of-stake consensus mechanism: “Bellatrix” and “Paris.” “Bellatrix” is expected to come into action on the 6th of September while “Paris” is expected to happen on September 15th. The latter is dependent on Ethereum’s hash rate, namely, it should reach a certain level. As it’s not constant and could increase or decrease over time, it’s difficult to define an exact date. 

Sooner or later, this huge shift will come to life and make waves in the realm. Keep an eye out for updates!

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