Developer named the exact time of Ethereum network merger
One of the leading Ethereum developers Marius Van Der Weyden named the exact time when Ethereum networks will merge (Merge). Analysts assured that the cryptocurrency ETH will become deflationary on that day. The programmer said that the largest update in the history of the project will take place at 22:57:34 Moscow time on September 14, 2022.
Van Der Weyden assured: he developed and ran special software code to precisely determine the moment when Proof-of-Stake Beacon Ethereum will merge with the main network and open a new era for smart contracts. He was able to predict, to the nearest second, the timing of the so-called total terminal complexity of Ethereum (TTD) or “complexity bomb” that will make the merge happen at a certain block height.
The developer confirmed that this will be a breakthrough for the whole industry, because it will reduce power consumption in Ethereum by about 10 thousand times. He noted: now this indicator is high and averages from 0.1% to 0.3% of all capacities produced in the world.
According to him, the merger will also lead to a sharp decline in new ETH coin issuance. As the network now burns through basic transaction fees since the introduction of the EIP-1559 mechanism in August 2021, many analysts predict that the cryptocurrency asset will become deflationary after the merger.
The developer stressed that not only users, but the whole team is looking forward to this update. This event, which will take place in less than a month, will be the most important milestone in the development of the crypto startup in its history.
Earlier Vitalik Buterin expressed an opinion that not all blockchain users welcome the Proof-of-Stake mechanism. He recommended them to look at Ethereum Classic.
