Ethereum’s (ETH) Ropsten public testnet will undergo a merge in June ahead of a rollout on the main network.
The “merge” refers to Ethereum’s long-awaited move to a less energy intensive proof-of-stake network from its current proof-of-work design.
After the shift is completed, transactions on the Ethereum blockchain will be processed and validated by stakers instead of miners, which will create a faster and more environmentally friendly network.
Switching the blockchain is a complex process that requires multiple tests on testnets such as “Ropsten” before they are deployed on the mainnet.
The Ropsten merge is expected to occur on June 8. Estimates for a rollout on mainnet are the final quarter of this year. However, some features, such as the ability to withdraw staked Ethereum, will have to wait until after the Merge is complete.
Separately, Ethereum developers increased bug bounties to $500,000 U.S. worth of Ethereum or Dai (DAI) earlier this week. These are awarded to developers who find vulnerabilities or bugs on the Ethereum network.
Ethereum is down 5% over the past 24 hours to $1,960 U.S. Year to date, Ethereum’s price has declined 45%.
