The Merge will be finally crossing the finishing line later this year.
Vitalik Buterin, a Russian-Canadian programmer and co-founder of Ethereum (ETH), has recently announced that the Merge is reaching its end as it is already 90% complete. The news broke during the biggest annual European ETH-focused event in Paris, dubbed Ethereum Community Conference (EthCC).
Buterin discussed the highly anticipated Merge, where Ethereum will make a full shift from Proof-of-Work (PoW) to Proof-of-Stake (PoS), and noted that it only needs to be tested on Ropsten to finally see the light of day.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe – We publish new crypto explainer videos every week!
The inventor of ETH also revealed that the crypto community would be also working on the Surge, an initiative that will reportedly increase the network’s scalability for rollups via sharding, a process in which blockchain states are divided into pieces that individually store states, and transactions histories.
Following this, Buterin added that people won’t even remember that PoW ever existed. Well, this wouldn’t be surprising, as the initiative is expected to provide Ethereum a boost, which will be able to process 100k transactions per second when compared to its current 15-20 transactions.
Back in May, Preston van Loon, one of ETH’s core developers, mentioned that the Merge was supposed to reach its end in August.
Ethereum (ETH) is currently sitting at $1,631, with a 9.33% increase in the last 24 hours.