Ethereum has taken the next step towards the less energy-intensive proof-of-stake (PoS) validation via a successful merge with the Beacon Chain PoS consensus chain.
A test network, called Ropsten testnet, merged its proof-of-work (PoW) execution layer with Beacon.
The process is expected to be identical to the one that the main Ethereum network will undergo in August, CoinDesk reported.
READ: Ethereum nears greener proof-of-stake validation method for mining
Ethereum, which is the second-largest crypto by value, had targeted completion of the overhaul by August to avoid what its creator and founder Vitalik Buterin calls the ‘difficulty bomb’ – which is effectively a hard deadline for proof-of-work imposed on the network deliberately, once triggered it will see the difficulty of validation puzzles used in Ethereum mining increase exponentially until they become practically impossible to solve.
Ethereum currently uses PoW, which requires miners to discover new blocks and add them to the blockchain, in a highly energy-intensive way, to earn new Ethereum.
The Beacon PoS coordination chain has validators creating and validating new blocks in line with the PoW execution chain.
The complicated change of coding requires several tests on various testnets before the two chains will merge and Ethereum can officially become a PoS blockchain.
Ropsten’s merge will be the first of its kind and is expected to educate developers as to how they should continue toward the real merge on mainnet.
The second largest digital currency is more than 60% below its all-time high seen in November as investors seek safe havens rather than riskier assets in times of economic downturn, triggered by the war in Ukraine, soaring inflation and global shortages.
Although its switch to proof-of-stake should give the crypto a boost, according to analysts, as the soon-to-be faster, cheaper and more secure network can surely only be bullish.