Ethereum devs confirm the perpetual date for The Merge
Ethereum's transition journey from PoW to PoS journey could bring up to years as it began with the launch of Beacon Chain in December 2020
Ethereum network is nearing the merger phase of its crucial transition from proof-of-work mining consensus to proof-of-stake, Ethereum devs offered an endless merger date during a conference call on Thursday.
The conference call saw core Ethereum developer Tim Beiko who runs core protocol meetings, propose September 19 as the uncertain target date for the merger. The proposal target date didn't face any complaints from the core developers.
Ethereum developer superphiz.eth tweeted about the roadmap to the merger and also cleared that the proposed target date should be seen as a roadmap rather than a hard deadline.
This merge timeline isn't final, but it's extremely exciting to see it coming together. Please regard this as a planning timeline and look out for official announcements!https://t.co/ttutBceZ21 pic.twitter.com/MY8VFOv0SI— superphiz.eth (@superphiz) July 14, 2022
Ethereum's transition journey to Pos-based ETH 2.0 began on December 1, 2020, with the launch of Beacon Chain initiating Phase 0 of the transition. Phase 1 of the program was scheduled to launch in mid-2021 but got delayed to the first quarter of 2022 owing to unfinished work and the complexities involved in the code auditing.
Sepolia Testnet Beacon chain went live setting the stage for its merge dress rehearsal to give Ethereum network developers valuable technical insights. The Sepolia was eventually merged with the network on July 7.
The final trial of the Merge is set to occur on the Goerli network which is scheduled for the second week of August after its merger the official Merge said for the second half of September would become a priority for devs.
Ethereum's transition to PoS based network is expected to reduce its energy consumption by 99% and the introduction of sharding would make the network highly scalable and on par with centralized payment processors.
The Pos Vs Pow debate has been a long-running one, where PoS proponents claim it's more environment friendly and equally secure while PoW proponents including the likes of Jack Dorsey have called PoS centralized and less secure.
Ethereum co-Founder Vitalik Buterin has been aggressively supporting PoS claiming that quite opposite to common belief PoS does not include voting on protocol parameters just like proof-of-work doesn't Buterin also explained that nodes reject invalid blocks in both PoS and Pow.
Pro-tip: if there's a long-established tradition of people debating A vs B based on deep arguments touching on math, economics and moral philosophy, and you come along saying "B is dumb because of a one-line technicality involving definitions", you're probably wrong. https://t.co/22N0OaHyz1— vitalik.eth (@VitalikButerin) July 3, 2022
While Buterin continues to bat for Pos a recent statement from HOPR highlighted some of the keys that could prove critical post Merge:
“We should stress that this isn’t an emergency: It doesn’t affect any funds today. But this WILL be a major problem post Merge and validators are incentivized to disrupt each other to poach a share of millions of $$$ in MEV.”
The network leaks their IP addresses while broadcasting attestations and blocks which are linked to their public key but these validators are known ahead of time allowing for highly targeted and particular attacks against upcoming validators.
But those don’t do the problem justice. Yes, validators leak their IPs which can be linked to pub keys.— HOPR (@hoprnet) July 12, 2022
But this gets much worse because validators are known ahead of time, allowing for highly targeted and selective attacks (DoS or other) against upcoming validators
The HOPR team noted that an audit report has even labeled the issue as mitigated which is not true because attackers are not limited to DOS attacking the Teku node.