The Ethereum (CRYPTO: ETH) merge, transitioning the network from proof-of-work to proof-of-stake, may occur Sept. 19. Here's what investors need to know.
What Happened: In a recent tweet by Superphiz, community director of the Ethereum Beacon Chain, it was revealed that Ethereum’s transition to proof-of-stake could occur on Sept. 19.
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The tweet displayed a planning timeline stating the exact timeline for the merge remains uncertain.
The Beacon chain is an integral part of the merge, serving as Ethereum’s proof-of-stake chain, parallel to its proof-of-work chain.
The Beacon Chain holds 13.1 million Ethereum as per the Ethereum 2.0 contract. The Merge will entail PoW Ethereum miners having to mine on different blockchains, such as Ethereum Classic (CRYPTO: ETC).
The hugely anticipated event for Ethereum could bring a bullish uptick in its price action.
As macroeconomic climates worsen and the cryptocurrency markets continue to plummet, the large-scale implications of the merge on Ethereum’s price action remain uncertain.
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