Ethereum co-founder Vitalik Buterin says the blockchain’s highly anticipated ‘merge’ will happen in August

Ethereum co-founder Vitalik Buterin says the blockchain’s highly anticipated ‘merge’ will happen in August

After years of delays, Ethereum co-founder Vitalik Buterin confirms that the “merge” will finally happen this summer.

“If there are no problems, then the merge will happen in August,” Buterin said at the ETH Shanghai Web 3.0 Developer Summit on Thursday. 

The merge is a highly anticipated upgrade to Ethereum that, if all goes smoothly, will shift the major blockchain from a proof-of-work mechanism to proof-of-stake. 

Currently, Ethereum relies on a proof-of-work model, where miners race to complete complex puzzles to validate transactions. This requires a lot of computer power and energy. In shifting to proof-of-stake, where transactions are validated by those who contribute, or “stake,” to the network, Ethereum is supposed to become more eco-friendly and efficient. 

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.