Musician Jonathan Mann celebrated the merger with “No More Surge” and “ETH to the Moon”.
The Ethereum blockchain recently took a step toward a long-awaited upgrade that will improve the platform by moving to Proof-of-Stake (PoS) consensus. The Ropsten testnet has successfully transitioned to PoS in what is being called the “dress rehearsal” of the Ethereum blockchain.
Because the network uses a Proof-of-Work (PoW) mining model that consumes a lot of electricity, the Ethereum platform is often criticized along with Bitcoin (BTC) for its environmental impact. With the move to PoS, power consumption issues are solved and the platform becomes more scalable and capable of processing more transactions per second.
According to the Ethereum Foundation, after the Ropsten transition, the Goerli and Sepolia testnets should move to PoS before moving to mainnet. The Rinkeby and Kovan testnets may be supported by the community, but they are no longer controlled by the client developers.
The community members were happy about this event. Musician Jonathan Mann celebrated the fusion by performing a Ropsten fusion-themed song and singing lyrics like “No more electrocutions” and “ETH to the moon.”
Roberto Nixon, founder of Metav3rse, called the event a “huge milestone” and a “historic” event. He believes that this is one of the most important developments in the history of cryptography, as the integration of mainnet with PoS also depends on the success of testnet.
Paritosh Jayanti, an Ethereum developer, congratulated the people who worked on the merger. Although Jayanti mentioned that there are still some bugs, he noted that fixes are on the way and that the team will be monitoring the chain in the coming weeks.
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The development of Ethereum’s effort to move to PoS came just in time as New York began cracking down on PoW mining. Last week, the New York State Senate passed a bill aimed at imposing a mining ban on PoW systems.
While some might expect Ether (ETH) price to turn bullish post-merger, the news didn’t have a major impact on the digital asset’s price. Despite successful testnet integration, traders still adjusted their ETH price target to $1,400 per ETH.