Hello HODLers!
How can we not talk about Goerli today ?! The last phase of the Ethereum merge on Testnet 2.0 happened successfully overnight!
Merge which, I remember, is the event that will bring Ethereum from a Bitcoin-style Proof of Work validation system to a Proof of Stake system.
To define it as a historical moment is perhaps too little. Ethereum has in fact completed the merge also on the last testnet and is therefore on its way to the final step also for the mainnet, a step that should take place, according to estimates, as early as September 19, and therefore in just over a month.
Thus closes the last chapter of the test of the passage (I want to reiterate that this is the last chapter of the merge on the testnet, now these steps must take place on the mainnet before seeing Ethereum 2.0 live), for Ethereum, from Proof of Work a Proof of Stake, an epochal transition not only for this protocol, but more generally for the whole DeFi world, but also for those of NFTs and metaverses.
In fact, it is one of the most important events for the entire crypto and blockchain world, in particular for the world of DeFi, which continues to have as its first and impossible reference to replace $ ETH with its network. It will also be important for many gaming and metaverse projects, which will thus be able to continue to consider the Ethereum ecosystem as their home.
The Goerli merge was relatively painless and once again the (few) problems that occurred were attributed to some errors in upgrading several nodes. Problems that are similar to those experienced in previous testing phases and therefore should not be of particular concern for the next step.
As was also confirmed by Marius Van Der Wijden, one of the developers of Ethereum, who, when in Italy it was the very first light of the morning, declared the merge as concluded.
And we finalized on Goerli. There was some confusion on the network because of two different terminal blocks and lots of non-updated nodes, so we didn't finalize earlier. We're still looking into whats happening, but so far it looks quite good.
If the merge were to take place according to canons, and there is now relatively little to doubt about this, the Ethereum 2.0 chain will dominate this space. I refer to civil wars, which are not civil because the source of disturbance is entirely external to the community, which should lead to at least one fork of those who want to remain with a consensus mechanism in Proof of Work. In this article I have analyzed the theme: https://peakd.com/hive-146620/@makeitreal95/i-fork-pow-di-ethereum-avranno-valore
As already mentioned in my previous article, some exchanges and intermediaries are already listing a possible parallel token (Poloniex even has already listed the two ethereums even before the fork, as if they were futures, you can find them with the ETHW and ETHS tickers), while others are they are declared possibilists. With a small problem, however, for the splinters: several projects of enormous importance have already offered full support to the transition to PoS, rejecting a possible deployment on any fork between the lines. And when the names are those of Tether, Chainlink and USDC, the space to develop something concrete in such a short time remains very little.
To conclude we can say all the tests that took place on Testnet 2.0 have been successfully concluded! A success that led, among other things, $ETH to one of its most incredible races in recent weeks... Such a race that brought it back to $1,900, a value that few would have imagined even just a couple of weeks ago, when the value of $ETH touched a dip of $ 800.
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