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Ethereum up 14% as Goerli Testnet merger goes live

Ethereum is entering the final stages of preparations for the highly anticipated Merge event after Goerli, the network’s third and final testnet, successfully transitioned to a Proof-of-Stake (PoS) consensus algorithm on Wednesday evening. ETH was up 14% in 24 hours at the time of writing, buoyed by anticipation of the Ethereum mainnet meltdown next month.

Earlier this summer, the Ropsten testnet successfully transitioned to PoS in June, and the Sepolia testnet made a similar change in early July.

The Goerli testnet merger was announced at the end of July and took place in two phases, starting with the prerequisite Bellatrix upgrade on August 4. The second stage, called Paris, was triggered today after the terminal total difficulty (TTD) on the Goerli. the channel reached 10,790,000.

This second phase of the upgrade saw the transition of the execution layer client to proof-of-stake, with the next block following the change produced by a validator operating on Beacon Chain, a PoS network that runs parallel to the network main of Ethereum.

Goerli, which is a testnet environment for Web3 developers to test blockchain applications before launching them on the Ethereum mainnet, is different from both Ropsten and Sepolia in that before today’s change , it instead ran on a Proof of Authority (PoA) consensus algorithm. only on proof of work (PoW).

Today’s Goerli merger also differs from the first testnet integration in that node operators had to update their consensus-layer and execution-layer clients at the same time rather than just one of the two.

According to the Ethereum Foundation, the Goerli merger is the last opportunity for users to ensure their PoS validators are properly configured before the mainnet transitions.

It will also serve as a final test before the Ethereum mainnet officially merges with the Beacon chain next month, with a soft date of September 19.

The merger is Ethereum’s most significant upgrade since the network’s launch in 2015 and will end the current process of mining energy-intensive ETH, replacing it with a PoS model that is expected to improve network scalability and give it back 99% more environmentally friendly.

It remains to be seen whether a smooth merger could help end the current crypto winter.

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