Ethereum’s Merge Set for Mid-September, ETH up 12% in Last 24 Hours

Ethereum is up just over 12% in the last 24 hours as news hits, the Merge could be final by mid-September of this year, according to a soft timeline from Tim Beiko, an Ethereum Foundation developer. 

Superphiz.eth, a twitter community for investors, traders, users and developers interested in all things Ethereum, then provided a detailed written plan on twitter. 

The Merge will see Ethereum’s network go from the energy-intensive proof-of-work consensus to a proof-of-stake consensus, which will significantly reduce the energy costs and consumption associated with the network. By reducing the network’s energy usage by 99 plus percent, some proponents believe it will kickstart more security and scaling opportunities. 

This news from Ethereum was followed by a slow price increase, which now puts the digital asset at $1,232, up 12% in the last 24 hours, according to Bitpush Terminal data. 

Ether has been in a roughly month-long consolidation period which has kept the second-largest crypto currency by market cap within $1,000 and $1,250. 

This announcement comes just one day after Ethereum’s ninth shadow fork went live. Test forks are smaller, more docile tests that allow developers to copy the data from the main network to a test environment to test minor changes. 

Author: Tyler Irvin

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