Why September 15, 2022 will be a historic day for cryptocurrencies?

Ethereum merge upgrade. Source: Shutterstock.com/LuckyStep

He is waiting for supporters in a month cryptocurrency the long-awaited event, which is scheduled for September 15. What is this event about? An Ethereum upgrade called – The Merge.

Vitalik Buterin recently published a revised date for the expected Merge upgrade. He published this tweet on August 12, where he noted that the developers adjusted the number of hashes left to mine. The transition to Proof-of-stake therefore comes to approx September 15.

It was previously expected that the transition to Proof-of-stake Ethereum will reach on September 19th. However, this date is directly affected by the hash rate.

Ethereum: Cumulative difficultyEthereum: Cumulative difficulty
Ethereum: Cumulative Difficulty. Source: bordel.wtf

Buterin said:

“The Ethereum Proof-of-work network now has a fixed number of hashes that can be mined. Bordel.wtf predicts that the merge will happen around September 15th, although the exact date depends on the hash rate.“

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Read also: Ethereum Analysis: Above $2000 Again, Another 100% Up?

Ethereum PoS in its final phase

On August 10, the developers managed to successfully implement the final phase of the testnet for the Merge upgrade. This enhancement is referred to as “Goerli“.

Of course, not every network participant agrees with this upgrade. So the result could be fork, which would leave the Proof-of-work mechanism on the parallel network. However, Vitalik Buterin advises miners to migrate to another network, such as ETC. However, the question remains whether the fork will negatively affect the network Ethereumbut Buterin said that he was not worried about it.

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The Ethereum network is likely to reach the most significant milestone in history and we are only a short time away from the realization of this event. This could mean a continued upward trend for the price of Ethereum, which is already showing, as Ethereum has risen the most among high-cap coins in recent weeks.

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