The Ethereum merge is the only topic being discussed right now in the crypto sphere. A hotly debated subject has been the network-wide update that will turn Ethereum into a proof-of-stake (PoS) network. Given the numerous setbacks it has previously had, some people are still optimistic about its appearance in September, while a small number of others are more pessimistic. But Tim Beiko from the Ethereum network gave the community new hope with his tweet.
Beiko shared a link titled “The Merge Mainnet Readiness Checklist” earlier today. The fact that almost everything on the list had been completed demonstrated that the Merge was proceeding as planned in September.
Stress tests, which included single client load/metrics and network load testing, under which bigger blocks and shorter slot periods were included, were the only remaining items. Additionally, post-merge resource depletion and threat analysis had not yet been done.
Several platforms continued to support Ethereum’s major change in the midst of this. Aave only advised its members to continue supporting Ethereum’s PoS chain yesterday. Yuga Labs said earlier today that everything was prepared for the forthcoming Merge. However, the company also stated that, in the event of a hard fork, it will only accept NFTs on the PoS chain.
Ethereum merge might lose support if watchdogs get invested
Following the Merge, there have been numerous speculative claims on how Ethereum might come under the control of authorities, and several members of the community have expressed alarm about these claims. Brian Armstrong, the CEO of Coinbase, said that the company might stop offering its Ethereum staking services in light of the current circumstances.
Coinbase later opened its doors for ETH staking earlier this month.
Although there appear to be alternatives, Armstrong hopes that such a situation won’t arise.
However, ETH seemed to be taking a hit in the market with respect to price. At the time of press, ETH was priced at $1845.32 with a hike of 0.12% over the last 24 hours.