The Ethereum (ETH) Merge is nearing completion and could be finalized as soon as September 16, according to industry reports.
The Bellatrix upgrade, which is the final step in the Merge process, was activated yesterday (September 13), marking the last phase of Ethereum’s transition from a proof-of-work (PoW) protocol to a more energy efficient proof-of-stake (PoS) operating model.
The Bellatrix upgrade prepares Ethereum’s proof-of-stake Beacon Chain, also known as its consensus layer, for a Merge with the mainnet execution layer, which is the final step in the transition process.
Some industry observers are predicting that the Merge could be completed as soon as September 15, though the exact timing remains unknown.
The completion of the Merge will mark the end of Ethereum’s energy intensive proof-of-work protocol.
According to the Ethereum Foundation, a non-profit organization that funds the Ethereum ecosystem, the Merge will cut the energy used to mine for the cryptocurrency by 99.95% and set the stage for further improvements to Ethereum’s infrastructure.
The next step in Ethereum’s evolution will be to improve its transaction speeds, say analysts.
Ethereum’s price is down 58% this year at just under $1,600.00 U.S. per token.
