Blockchain

Ethereum’s Highly Anticipated Merge Goes Live on Ropsten Testnet

A crucial step in the networks transition from Proof-of-Work to Proof-of-Stake.

Blockchain

Ethereum’s Highly Anticipated Merge Goes Live on Ropsten Testnet

A crucial step in the networks transition from Proof-of-Work to Proof-of-Stake.

Earlier this week, Ethereum (ETH) announced the utilization of its Ropsten Test Network would be used to simulate The Merge. Today, June 8, the test was found to be successful and Proof-of-Stake (PoS) was activated.

The Merge would see ETH’s main network (Mainnet) move to a PoS system, a major step forward for the network. PoS will enable broader use of smart contracts, lower energy consumption, as well as optimized security.

With the Ropsten Testnet being successful in transferring to PoS, it and other Testnets will be shut down by the end of the year, according to one of Ethereum’s lead developers Tim Beiko.

Tokens associated with the test networks don’t hold any intrinsic value and are simply there to provide data and feedback for developers to work off of — though there were some prizes up for grabs to early participants.

ETH remains one of the most popular cryptocurrency networks to date, with volume in regards to NFTs on the network alone reaching over $54 billion USD.

According to one of ETH’s core developers Preston Van Loon, “if everything goes to plan,” The Merge should be on track to go live via the Mainnet by August.

Elsewhere in Crypto news, US Senators introduce a comprehensive bipartisan Cryptocurrency regulation bill.

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