|

Core Ethereum developer details changes to expect after the Merge

With the Merge still at least three months away, core Ethereum developer Time Beiko offered a few suggestions and reminders for developers and users of Ethereum.

Core Ethereum (ETH) developer Tim Beiko has outlined a series of suggestions and expectations about the upcoming Merge for applicatio and protocol developers on Ethereum.

For the average users of apps and protocols, Beiko simply suggested testing things out to ensure nothing is broken as more tests are executed. He tweeted on May 24 “Run stuff, if something is unclear or broken, leave a comment.”

Beiko urged users and developers to “pay attention and make sure you are ready” for the Merge.

The Merge is the highly complex and long-awaited moment when the Ethereum network switches from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus. At that point, it will be known as "Consensus Layer" and is expected to occur in August this year.

Testing on several testnets has been focused on ensuring there are no cross-client issues or that existing applications don’t entirely break after the Merge. Beiko pointed out in a separate Twitter thread that such problems are likely to be rare because “99% of changes affect the protocol layer,” while “there are almost no changes done to the application layer.”

Beiko stated that developers should be aware there will be two significant changes to how smart contracts work with the Merge. First, he reminded them that the method for beacon randomness, which helps run applications, will change. This will be necessary for the switch to PoS, and was published in an Ethereum Foundation (EF) update last November.

The second change will be that block times will shorten from 13 seconds per block to 12. As a result of this change, smart contracts that use block production speed as a measure of time will run one second faster after the Merge takes place.

Beiko showed an air of confidence that despite the delays in executing the Merge, potential problems have been consolidated into a single echelon.

Aside from cross-client testing and these two edge cases, the biggest risk of disruption is in “tooling and infra pipelines”.

He concluded by assuring if any other issues arise during the thorough testing and shadow forks taking place, the Merge would be further delayed to ensure the security of the network.

At any point, if we find issues, we’ll obviously take the time to fix + address them before moving forward. Only then will we think about moving mainnet to proof of stake.

ETH investors who are worried about coins being unlocked and dumped when the Merge takes place can rest easy. DeFi educator Korpi on Twitter explained on May 23 that the ETH staked on the Beacon Chain now cannot be unlocked without a later upgrade to the network once the Merge takes place. This includes rewards earned from staking.

He also stated that once coins are unlocked, they will be released in tapers rather than all at once and that those coins are often an investor’s “never-sell stack” that are not likely to be sold.

There are currently 12.6 million ETH staked on the Beacon Chain. The Beacon Chain was one of the first steps taken toward making Ethereum a PoS network, launched in December 2020.

 

Author

Cointelegraph Team

Cointelegraph Team

Cointelegraph

We are privileged enough to work with the best and brightest in Bitcoin.

More from Cointelegraph Team
Share:

Editor's Picks

Ripple recovery runs into headwinds amid fading retail and institutional interest

Ripple (XRP) holds slightly above $1.30 on Monday, with short-term recovery prospects fading. Strong structural resistance toward $1.40 continues to cap upside, raising the risk of further downside below $1.30.

Crypto Today: Bitcoin, Ethereum, XRP extend recovery despite ETFs outflows

Bitcoin edges higher above $82,000, building strong structural support despite roughly $229 million in ETF outflows last week. Ethereum recovers above $2,400 as bulls strive to regain trend control, backed by a subtle recovery in momentum indicators.

Pi Network Price Forecast: Weak momentum and waning demand reinforce downside bias

Pi Network edges lower on Monday, risking a bearish conclusion to its short-term consolidation above the $0.0774 horizontal support. A steady decline in the notional value of active PI futures contracts and the weekly spot trading volume suggests reduced retail demand.

Zcash Price Forecast: Downside risk looms as ETF outflows and falling Open Interest weigh

Zcash (ZEC) edges higher on Monday after three consecutive weeks of bearish closes totaling roughly 30% losses. The privacy coin is losing institutional confidence with three straight weeks of outflows, while retail speculation eases as ZEC futures Open Interest declines to a 30-day low.

Bitcoin: Macroeconomic headwinds, cooling demand cap BTC gains
Bitcoin (BTC) extends losses this week, trading below $82,500 as of Friday as selling pressure continues. Weakening institutional demand supports this pullback as BTC spot Exchange-Traded Funds (ETFs) are on track to record a two-week withdrawal streak, reaching $146.19 million in net outflows through Thursday.