The network’s engineers have run test after test in the anxious run-up to Ethereum’s eagerly awaited merge. This ensures everything runs without a problem when the second-largest cryptocurrency by market capitalization switches to proof of stake in the coming weeks.
Key Highlights
- Ethereum developers are confident that the upcoming merge will be smooth and transitions will go according to plan
- The test runs aim at making the merge successful with no hitch
- The merge will also produce forked versions of Ethereum, which might be listed on some marketplaces, allowing scammers to peddle counterfeit NFTs and cryptos
- Some other users and Ethereum supporters have continued backing the PoW framework of Ethereum due to some personal reasons
According to Ethereum’s developers, the historic and significant update, anticipated to take place between September 13 and 15, has successfully passed its final practice run.
The 13th shadow fork of the Ethereum mainnet appeared to go through without any problem. Shadow forks are concentrated tests of particular aspects of the merge. These shadow forks look for potential problems and simulate the process of changing the Ethereum mainnet’s underlying mechanism. This aids the transition from the present proof-of-work mining model to a proof-of-stake system, which will end mining on the network.
According to Ethereum developers, the Bellatrix problem was caused by a number of node operators who weren’t ready since they hadn’t updated their clients to the appropriate merge-ready software. Node operators are individuals and firms responsible for maintaining the Ethereum network’s backend infrastructure.
To simulate any eventualities that might thwart or delay the execution of the merge, the network’s developers have been doing dress rehearsals for the merge practically every week for the past few months. There is virtually no room for error, given that the Ethereum network represents the foundation for digital assets, applications, and decentralized financial instruments valued at tens of billions of dollars.
It is also important to note that the recently improved mainnet for Ethereum should work just fine with Ethereum NFTs. You don’t need to take any action to prepare for the merge; they will still be kept in your wallet(s) and continue functioning normally on marketplaces. Everything related to that is being addressed on the development side to ensure a smooth transition.
Although the majority of the Ethereum community seems to support the merger and its potential advantages, there are significant skeptics. Due to the security advantages of the resource-intensive proof-of-work mining method or the incentives received by miners who operate the computer rigs, some Ethereum supporters do not want the chain to move away from PoW.
As a result, some Ethereum developers intend to split the blockchain and produce a spinoff chain that maintains the present proof-of-work framework.
The merged mainnet of Ethereum will not be the same as ETHPOW, and it will resemble how Ethereum forked off its main chain in 2016 to deal with the consequences of the DAO breach. This saw some users continue supporting the main chain under the Ethereum Classic label. But since then, a lot has happened, and many more assets, including NFTs.
Duplicate versions of Ethereum’s NFTs will be produced as ETHPOW, and any other forks split off from the main Ethereum network. This implies that if an NFT marketplace supports the original Ethereum mainnet and the forked proof-of-work, you might see both versions of the token listed.
This will also undoubtedly lead to confusion. There might be scammers looking to rip off inexperienced crypto users by peddling counterfeit versions of popular NFTs like Bored Apes and Beeples.
Ethereum developers have consistently expressed confidence that the merge will go according to schedule. Nevertheless, the test runs have continued, possibly more than anything else, to give developers some relief.
After the merge is complete, the multi-phased sharding upgrade will be the next big milestone. According to Ethereum’s website, this improvement will considerably enhance the “distribution of data storage requirements, enabling rollups to be even cheaper, and making nodes easier to operate.”
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