Find out exactly when The Merge will take place, the biggest update of Ethereum (ETH) since the launch of this blockchain in 2015 and which marks the arrival of Ethereum 2.0
Ethereum is the second cryptocurrency on the market, after Bitcoin, and has been on the rise for several months, but this month a very important change will take place on the Ethereum blockchain. Let’s find out when this update will take place: the Merge.
When will the Merge take place?
The Merge will occur when the Total Terminal Difficulty (TTD) reaches 58750000000000000000000.
… before the Ethereum merge
The Merge will take place on September 15, 2022, more precisely when the Total Terminal Difficulty (TTD) reaches 587500000000000000000000. The TTD corresponds to the difficulty of the last block mined in Proof of Work (PoW) and the next block will therefore be produced via Proof of Stake (PoS). On blockchains we do not count in days and hours but in blocks, that’s why there is no precise date of the time of the Ethereum merge, but a number of blocks. Once the block with the TTD is reached, the migration will take place.
What is The Merge?
The Merge represents the migration of the Ethereum (ETH) blockchain to a new consensus methodabandoning Proof of Work in favor of Proof of Stake.
This update removes energy-intensive mining in favor of staking ETH to secure the Ethereum network. It is estimated that Ethereum will decrease its electricity consumption by more than 99%.
The Merge brand the beginning of a new era for the Ethereum blockchainwhich will become less energy-consuming and much more scalable.
👉 Our full explanation of what Merge is
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What will happen to your Ethers (ETH)?
Do not panic, everything is automatic. No need to convert or transform your ethers.
Indeed, once The Merge is completed, mainnet ETH will not be affected.
So, if you own ETH or any other token on Ethereum, you have nothing to do with your assets or your wallet before The Merge.
What will happen next?
The Ethereum blockchain will split into 2this is called a hardfork. There will be two separate blockchains :
- Ethereum 2.0 which will use Proof of Stake
- Ethereum PoW in Proof of Work
We advise you not to try to take advantage of this separation to carry out risky operations on Ethereum PoW because many robots will be faster than you and you will risk losing money. It is impossible to know how the price of Ethereum will reactwhether it is the price of Ethereum 2.0 or Ethereum PoW.
The Merge is only a first stepmany updates will still be made in the coming years on Ethereum to reduce its transaction costs and increase their number per second.
Will fees on Ethereum be reduced after The Merge?
Nope, it is a received idea that circulates a lot. The Merge is a consensus mechanism change, not an expansion of network capacity. After The Merge, the gas costs on the blockchain will therefore be exactly the same than today.
Beware of scams
As the Ethereum mainnet merge approaches, be very careful of scams who would try to deceive you during this transition.
Do not send your ETH and other tokens under any circumstances in a so-called upgrade procedure to an ETH2 token. There is no official “ETH2” token and you don’t have to do anything special to keep your funds safe.
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