Ethereum is closer than ever before to the long-waiter Merge, which will transition the ecosystem from the current Proof-of-Work (PoW) algorithm to Proo-of-Stake (PoS).
The latest news pumped ether's (ETH) price by over 16% up to $1,700 as the Ethereum community has embraced for the major event of the year. According to a blog post, Ethereum's testnet called Goerli will undergo the so-called Bellatrix upgrade between August 6-12, 2022. With the update, Goerli will be called Prater and will be available for individual stakers to run testnets validators.
The developers highlight that the Goerli merge is the last opportunity to ensure that validators are correctly configured before the mainnet transition. Running through the transition now is "strongly recommended to avoid any unexpected issues on mainnet," they added.
Ethereum is set to replace its consensus algorithm on September 19, should things go well. Ethereum developer superphiz.eth noted in a tweet that the timeline "isn't final," however, according to the published tweet, the network will be upgraded two weeks after the Bellatrix update will also undergo the Merge.
