The wait is over, the Ethereum Foundation has announced the Merge launch date.
The Ethereum Foundation, a non-profit organization dedicated to supporting the Ethereum blockchain and related technologies, has announced the date of the long-awaited Ethereum Merge.
According to the blog post shared on August 24th, the Foundation expects to complete the installation process between September 10th and 20th.
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The Ethereum Foundation shared its excitement by stating:
Following years of hard work, Ethereum’s proof-of-stake upgrade is finally here! The successful upgrade of all public testnets is now complete, and The Merge has been scheduled for the Ethereum mainnet.
Based on the information shared in the blog post, the Merge will be completed in two stages, “Bellatrix” and “Paris”.
“Bellatrix” stage will update the network on the consensus layer, which will be “triggered by epoch height”. After this part of the update is completed, the Merge upgrade will get into full swing. According to the blog post, the “Bellatrix” is expected to launch on September 6th on the Beacon Chain.
After the completion of the “Bellatrix” stage, the upgrade will move to the “Paris” stage. During this stage, the execution layer will shift from proof-of-work to proof-of-stake. According to the Ethereum Foundation, this stage will be triggered by Terminal Total Difficulty (TTD), when it will reach 58,750,000,000,000,000,000,000.
According to the data, when TTD hits the mentioned number, the network’s Execution layer will be merged “with the new Consensus layer and transition to the new proof-of-stake consensus protocol”. The “Paris” stage is expected to occur between September 10th and 20th.
Earlier this month, Vitalik Buterin, one of the co-founders of Ethereum, used Twitter to announce that the Merge is expected to occur on September 15th.
Ethereum Foundation notes that the transition to proof-of-stake will be completed after the Beacon Chain “finalized the block”. It is estimated that the finalization will be completed in around 13 minutes after the “first post-TTD block is produced”.
Following the approach of Ethereum Merge, some crypto exchanges are preparing for a change. On August 16th, Coinbase shared its plans to temporarily suspend deposits and withdrawals of Ether (ETH) and ERC-20 tokens.