The final testnet picture to shift the Ethereum network from Proof-of-work Consensus to Proof-of-stake Consensus is ready.
Ethereum is the second biggest crypto asset in the crypto Industry after bitcoin and its first smart contract blockchain Network and also stands at first rank, obviously because of its first-mover advantages. Since last year, the developers behind the Ethereum network have been working to shift Ethereum from traditional proof-of-work technology to Proof-of-stake Consensus to make the network better.
Just a couple of days ago, a developer of Ethereum Foundation ( a nonprofit organization behind the Ethereum blockchain network to support the Ethereum ecosystem and related projects) confirmed that the final picture to upgrade the Ethereum blockchain from Proof-of-work to Proof-of-stake is ready.
The developer also confirmed that the network is still running on Proof-of-work Consensus and also suggested the supporters of the Ethereum blockchain network ensure that they are running on sustainable software, so that transitions may take place smoothly.
“network is still in PoW and verify that your nodes/software/defi-protocol/NFTs survive the transition!.”
He confirmed that the network upgrade will take place next week. That means merger will facilitate the process to merge the Ethereum pow to pos in next few days.
After this merger, all the projects apps, NFTs, and everything else running on the Ethereum network including Ethereum’s ETH token will shift on POS consensus.
For this testnet merger, they already set up a guide to follow and ensure the exact process to see that everything will happen smoothly, under the guided process. The guided procedures included for almost every contributor of the Ethereum ecosystem like own node runners in addition to numerous block explorers and stats pages.
After the completion of this new merger process, developers will wait for the next 3 months to ensure that everything is working smoothly on the Ethereum test net blockchain. After that they will introduce necessary development works to fix the issues, so that they can provide a better transition of Ethereum to pos mannet.