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Following the statements from Ethereum developer Preston Van Loon at the Permissionless conference, Ethereum co-founder Vitalik Buterin has further confirmed The Merge will likely happen in August. Buterin noted, however, that it’s quite possible there’s still a risk of delay, and The Merge could happen in September or October 2022.
The Merge Could Happen in August, Buterin Says
Just recently, Vitalik Buterin spoke at the ETH Shanghai Web 3.0 Developer Summit and Ethereum’s co-founder discussed the highly-anticipated proof-of-stake (PoS) transition. The Merge is scheduled to go live on Ethereum’s testnet Ropsten in 18 days on June 8, 2022.
During the ETH Shanghai Summit, Buterin explained that the transition will be a major test for the entire Ethereum ecosystem. “This will be a major test, larger than any of the tests that we have done before,” Buterin stressed. “Taking a large existing test network with many applications with proof-of-work, moving into proof-of-stake.”


Furthermore, Buterin confirmed that The Merge may be implemented by August, as ETH software developer Preston Van Loon had said the same at the Permissionless conference. However, while Buterin did mention the month of August, he also eluded to delays.
“If there are no problems then the merge will happen in August,” the Ethereum co-founder said. “But of course, there’s always a risk of problems. There’s also a risk of delays. And so September is possible and October is possible as well,” Buterin added.
Meanwhile, The Merge is the first of Ethereum’s major upgrades following the London upgrade, which implemented ETH’s burn mechanism. Following The Merge, Ethereum will implement The Surge, The Verge, The Purge, and finally The Splurge.
The Surge aims to help improve scaling by leveraging zero-knowledge rollups (ZK-rollups) via sharding techniques. Ethereum’s The Verge transition will apply Verkle trees in order to achieve statelessness by using the Merkle proof upgrade.



The Purge will add an EVM simplification track and eliminate historical data and technical debt, according to the Ethereum roadmap. Finally, The Splurge revolves around “Miscellaneous but important extras.”
Buterin also talked about The Surge and noted that after these two upgrades (Merge & Surge), Ethereum will be “a great system.”

What do you think about Vitalik Buterin’s comments about The Merge and the Ethereum roadmap? Let us know what you think about this subject in the comments section below.



























Following the statements from Ethereum developer Preston Van Loon at the Permissionless conference, Ethereum co-founder Vitalik Buterin has further confirmed The Merge will likely happen in August. Buterin noted, however, that it&#x2019;s quite possible there&#x2019;s still a risk of delay, and T...

news.bitcoin.com

ETH Co-Founder Vitalik Buterin Says The Merge Could Happen in August, There’s Also ‘Risk of Delay’

Read this guide to understand the relationship between Ethereum and NFTs, and explore why Ethereum is used for NFTs.

cointelegraph.com

Why is Ethereum used for NFTs?

An Ethereum (ETH) developer is expecting ETH to merge to its new proof-of-stake system in August of this year.
At the Permissionless decentralized finance (DeFi) conference this week, a panel moderator quizzed Ethereum protocol developer Preston Van Loon about the timeline for the highly-anticipated upcoming Ethereum 2.0 Merge.

“These are just the last few steps we have to take, and as far as we know, if everything goes according to plan, August – it just makes sense.”

Ethereum core Dev @preston_vanloon  just said the eth merge is ready,they are now only testing, and expects the merge to happen in August. Packed room @Permissionless are excited about it. Great question @TrustlessState. Also on panel @drakefjustin pic.twitter.com/vX4beNatJ5
— Benjamin Cohen (benjicohen.eth) (@benjicohen421) May 19, 2022

Ethereum 2.0 looks to solve the network’s scalability issues by shifting over from a proof-of-work (PoW) consensus mechanism, which Ethereum currently employs, to a proof-of-stake (PoS) consensus mechanism. According to Ethereum co-founder Vitalik Buterin, the smart contract platform will eventually be capable of facilitating 100,000 transactions per second via second-layer solutions following the completion of the highly-anticipated upgrade.
The first phase of Ethereum’s upgrade to version 2.0 was rolled out in late 2020 to help reduce the blockchain’s congestion and high transaction fees.
Ethereum is trading for $1,941 at time of writing. The recent market downturn has hit the second-ranked crypto asset by market cap especially hard in 2022. ETH is down more than 3.6% in the past 24 hours, 28% in the last two weeks and 37% in the last month.
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The post Massive Ethereum Upgrade Expected To Happen in August, Says ETH Protocol Developer appeared first on The Daily Hodl.


An Ethereum (ETH) developer is expecting ETH to merge to its new proof-of-stake system in August of this year. At the Permissionless decentralized finance (DeFi) conference this week, a panel moderator quizzed Ethereum protocol developer Preston Van Loon about the timeline for the highly-anticipa...

dailyhodl.com

Massive Ethereum Upgrade Expected To Happen in August, Says ETH Protocol Developer

Ethereum is about to close an eighth consecutive red week. High-risk assets, including stocks and cryptocurrencies, are experiencing a devastating year in 2022. But where is the next significant support for ETH?
Technical Analysis
Technical Analysis By Grizzly
The Daily Chart
After Ethereum overcame its key dynamic resistance in March, it raised the possibility of an uptrend. However, things returned bearish in early April, as ETH fell unexpectedly.
Currently, the price is back upon the descending line (marked in blue), which is now acting as support. This structure means that the bulls did not have adequate power to push the price above.
This weakness in the trend is also seen in the daily candlesticks: It was exactly a year ago, on May 19, 2021, when the price reached the green demand zone where the high buying pressure caused the daily candle to close with a long bullish wick (to the downside). As can be seen, this area lies in the range between $1300 – $1500.
On the other hand, and looking at the mid and longer-term, the existing bearish momentum will change if bulls reclaim the resistance level at $2450.
The Directional trend index (in purple) moves below the red line, indicating that the bears are still completely controlling the market. This indicator is an insightful tool to track the bull and bears dominance in the market. For instance, if the index returning above the white horizontal line indicates bulls are back.

Key Support Levels: $1700 & $1500
Key Resistance Levels: $2200 & $2450
Moving Averages:
MA20: $2299
MA50: $2764
MA100: $2812
MA200: $3277
The ETH/BTC Chart
According to the BTC pair chart, the price is approaching a horizontal support level at 0.065, which has successfully supported the price twice in 2022.
This level will likely be tested again soon, and if bulls can defend it another time, there is a possibility of moving upwards towards resistance at 0.07. However, suppose the bears overwhelm the bulls. In that case, there is a possibility of many stop losses being triggered below 0.065, which will probably accelerate the current bearish trend of ETH against BTC.
Key Support Levels: 0.065 BTC & 0.06 BTC
Key Resistance Levels: 0.07 BTC & 0.072 BTC

 
On-chain Analysis
Number of Addresses with Balance Equal to or Greater than 100
Definition: The number of unique addresses holding at least 100 coins. Only Externally Owned Addresses (EOA)  are counted, and contracts are excluded.
In the chart, the number of addresses that hold at least 100 ETH (green circle) has been rising throughout the recent market crash. When this metric started to rise, the price followed shortly after. However, the accumulation by this indicator has not been as significant as in the two previous instances.
If the accumulation increase continues, it may lead to a supply shock and price appreciation, even for a short-term correction.



Ethereum is about to close an eighth consecutive red week. High-risk assets, including stocks and cryptocurrencies, are experiencing a devastating year in 2022. But where is the next significant support for ETH? Technical Analysis Technical Analysis By Grizzly The Daily Chart After Ethereum overc...

cryptopotato.com

This is the Level ETH Needs to Reclaim to Turn Back Bullish (Ethereum Price Analysis)

According to current metrics, the Ethereum blockchain has burned 2.35 million ether since the implementation of Ethereum Improvement Proposal (EIP) 1559. The $8.10 billion in value was burned over the course of nine months and during the last seven days, 18,110 ether worth $34.9 million was destroyed.
2.35 Million Ethereum Burned — Ethereum Dev Says The Merge Could Happen in August
Approximately 288 days ago, Ethereum developers implemented EIP 1559, a ruleset upgrade that basically changed the algorithm tied to the base fee per gas in the protocol and the network now burns the base fee per gas.
Since the August 5, 2021 London upgrade, after EIP 1559 was codified into the codebase and live, 2.35 million ether worth $8.10 billion in USD value has been destroyed forever.
The day after EIP 1559 was implemented, Ethereum co-founder Vitalik Buterin explained that the change was “definitely the most important part of [the] London [upgrade].”
During the last 24 hours, 2,396 ether worth $4.63 million has been burned. On May 1, 2022, the network saw the largest daily burn rate ever with 71,718 ether worth $138.78 million. The second highest burn rate daily record was on January 10, 2022, as 19,424 ethereum worth roughly $37.5 million was destroyed that day.
The biggest ethereum burner today is Opensea as the marketplace has burned 229,925 ether over 14,639,327 transactions. Gas used for ether transfers has burned a total of 207,072 ETH, and Uniswap V2 has burned 131,457 ether.
While the London upgrade’s EIP 1559 was a big protocol change, the next big shift will be when The Merge is applied. At that time, Ethereum will transition to a full proof-of-stake (PoS) network from its current proof-of-work (PoW) consensus algorithm.
Ethereum proponents are already getting prepared for The Merge as they suspect the change will be codified at some point this summer. Just recently, on May 17, the Ethereum-focused software firm Consensys launched an early access version of “Bonsai Tries” which aims to be a few steps ahead of the official Merge transition.
Furthermore, at the recent Permissionless conference, Ethereum developer Preston Van Loon said the public may see The Merge implemented by August. Ethereum developer Tim Beiko recently explained The Merge will likely go live by the third quarter of 2022. Beiko further explained that he “strongly suggests” that miners do not invest in more mining rigs going forward.

Despite the upcoming changes, Ethereum’s PoW hashrate has been at the highest point in the network’s lifetime on May 13, at block height 14,770,231. Burning ethereum has become simply part of the protocol and many crypto proponents believe ethereum will be ‘ultra-sound’ money with the deflationary mechanism.
A simulation of The Merge indicates that after the transition, ethereum will become scarcer. Currently, Ethereum’s issuance rate is 5.4 million ethereum a year, and after The Merge, the issuance rate will be around only 500,000 ether per year. While current supply growth is 3.7% annually, after The Merge, it will be roughly about 0.4% per year.
Amid all those changes, Ethereum’s burn rate will be the same, which is estimated to be around 900,000 ether per year. However, significant spikes like the 71,718 ether burned on May 1, can change estimations a great deal.
What do you think about the 2.35 million ether burned since August 5, 2021? How do you feel about The Merge approaching? Let us know what you think about this subject in the comments section below.



























According to current metrics, the Ethereum blockchain has burned 2.35 million ether since the implementation of Ethereum Improvement Proposal (EIP) 1559. The $8.10 billion in value was burned over the course of nine months and during the last seven days, 18,110 ether worth $34.9 million was destr...

Ethereum price	$1,978.45
Low - High 24H	$1,961.91 - $1,989.13
Market cap	$239.10B
Volume 24H	$6.63B
All time high	$4,878.26 -59.45% November 10th 2021
All time low	$0.432979 456714.90% October 20th 2015
Genesis date	N/A

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