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Ethereum Developers Confirm Perpetual Date of The Merge

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Ethereum Developers Confirm Perpetual Date of The Merge

The Ethereum network is approaching the merger phase of its crucial transition from proof-of-work (PoW) consensus mining to proof-of-stake (PoS). Ethereum (ETH) the developers proposed a perpetual merge date during a conference call on Thursday.

The conference call saw Ethereum core developer Tim Beiko, who leads core protocol meetings, propose September 19 as a tentative target date for the merger. The proposed target date met with no objections from major developers.

Later, Ethereum developer superphiz.eth tweeted about the merger roadmap and also clarified that the proposed target date should be seen as a roadmap rather than a hard deadline.

Ethereum’s transition journey to ETH 2.0 based on PoS started on December 1, 2020, with the launch of Beacon Chain, initiating phase 0 of the transition. Phase 1 of the program was scheduled to launch in mid-2021, but was delayed to the first quarter of 2022 due to unfinished work and code audit complexities.

Earlier in June this year, Sepolia testnet Beacon Chain went live, setting the stage for its merge dress rehearsal to give Ethereum network developers valuable technical insights. The Sepolia was eventually merged with the network on July 7.

The final test of the merger is expected to take place on the Goerli network, scheduled for the second week of August. After its merger, the official merger scheduled for the second half of September would become a priority for developers.

Ethereum’s transition to a PoS-based network is expected to reduce its power consumption by 99% and the introduction of sharding (planned for Q1 2023) would make the network highly scalable and comparable to centralized payment processors.

Related: Vitalik argues that proof-of-stake is a “solution” to Ethereum’s environmental issues

The PoS vs PoW debate has been a long one where PoS proponents claim it is more environmentally friendly and equally secure while PoW proponents including Jack Dorsey have called PoS centralized and less secure.

Lately, Ethereum co-founder Vitalik Buterin has been aggressively defend outletsarguing that contrary to common belief, PoS does not include voting on protocol parameters, just like proof of work (PoW) doesn’t. Buterin also explained that nodes reject invalid blocks in both PoS and PoW.

As Buterin continues to push for PoS, a recent report from HOPR highlighted some of the top vulnerabilities that could prove critical post-merger.

“We must emphasize that this is not an emergency: it does not affect any funds today. But this WILL be a major issue after the merge and validators are incentivized to poach a share of millions of $$$ in MEV.

The report pointed out that validators on the network leak their IP addresses when broadcasting attestations and blocks, which are linked to their public key, but these validators are known in advance, allowing for highly targeted attacks. and selective (DoS or otherwise) against upcoming validators.

The HOPR team noted that an audit report even qualified the problem as “mitigated”, which is not true because the attackers are not limited to (DoS) attacking the Teku node.