Developers test system's effectiveness to predict behavior after real Coin Merge.
Developers test the system's effectiveness in order to predict how it might behave after real Coin Merge.
Ethereum has now completed its second-to-last major test of the public test network Sepolia, which is the last step before the transition to PoS.
The launch of Facebook's Libra coin has been widely viewed as a positive development, despite some negative aspects.
The final trial of the Merge is set to take place on the Goerli network in the next few weeks before the official Merge on Ethereum's mainnet can be given approval.
On July 6, Ethereum educator Anthony Sassano hosted the Sepolia Merge livestream on YouTube, where he confirmed that the Merge transition went through "successfully" and said that testnet would be monitored in the next few days.
Thanks to everyone who watched the Sepolia merge livestream!!— sassal.eth (@sassal0x) July 6, 2022
The Sepolia merge transition went through successfully (and the chain finalized!) so now it's time for monitoring over the next few days.
Then we merge Goerli...
The Merge is coming
Terence Tsao, an Ethereum protocol developer said that the Merge transition was a success, but noted that around 25-30% of validators went offline after the Merge because of "wrong configs." He added that "hiccups will not delay the Merge."
Sepolia summary:— terence.eth (@terencechain) July 6, 2022
- Merge transition itself was a success
- 25-30% of the validators went offline shortly after the merge
- The offline validators were due to wrong configs
- Since then, the offline parties have updated their configs, and validators are up
Superphiz, a founding member of the ETHStaker Community, said during the stream that it was impossible to know whether or not the Merge would be successful "for hours" or even until "tomorrow".
The final trial will take place on the Goerli test network. Superphiz pointed out that the timing of the Merge will be dependent on the results of the Sepolia test.
Testnet Merges are a form of "dry run" that allow Ethereum developers and independent project developers to get a sense of what to expect when the actual Merge is executed.
During the livestream, Vitalik Buterin, Ethereum co-founder, revealed that one of the challenges facing the main network Merge will be “more third-party infrastructure that is not present on the testnets.”
Ethereum Name Service registrations increased by 200 percent as gas fees fell.
"So there might be non-critical issues like that that will just pop up in the Merge, which we're not catching with these tests. [...]. There are a lot of peripherals that aren't being tested and it's unavoidable, but it's probably fine."
On the exchanges, meanwhile...
Santiment has warned that there is a possibility of an ETH dump as the total supply of ETH on exchanges reached a new high on July 4, which was the highest since January 3, 2022.
#Ethereum's price has rebounded mildly to ~$1,120 on America's birthday. This said, $ETH continues to move rapidly back on to exchanges and is close to breaking 2022 highs. There is higher risk of a selloff while coins are rising on exchange wallets. https://t.co/kJFZNCXV54 pic.twitter.com/JcmrHp80VK— Santiment (@santimentfeed) July 4, 2022
As of July 7, the percentage has decreased slightly with around 13.25% of the total ETH supply being held on exchanges.
At the time of writing, Ethereum's price is $1,186.