• Ethereum difficulty bomb is set to explode in August according to Justin Drake, ETH Merge could be delayed.
  • Ethereum co-founder Vitalik Buterin expressed a strong desire to complete the merge in August 2022. 
  • Buterin believes problems that arise during the test on Ropsten on June 8 will be critical to the merge timeline. 

Ethereum's difficulty bomb is scheduled to explode in August 2022 and slow down the ETH blockchain. Vitalik Buterin, the co-founder of the altcoin, warned that a change in plans could result in a delay in the Ethereum Merge. 

Also read: Vitalik Buterin sets date for Ethereum’s Merge, fueling a bullish breakout

Ethereum Merge could suffer a delay if problems arise

Ethereum co-founder Vitalik Buterin told the community at the Shanghai Web 3.0 developer summit that the Ethereum Merge could occur as early as August 2022. Buterin remains optimistic about the timeline for the transition to Proof-of-Stake. However, he warned of a delay in the event that problems arise in the testnet implementation. 

The Ropsten testnet will test the Merge on June 8, and a smooth transition to Proof-of-Stake is key to the event's timeline. If problems arise and developers identify issues that need resolution, the Ethereum Merge could be delayed. Buterin explained that a delay could push the Merge to September or October 2022. He was quoted as saying,

"If there are no problems, then the Ethereum Merge will happen in August, but of course, there's always a risk of problems, there's also a risk of delays, and so September [2022] is possible, and October [2022] is maybe possible."

The problems that Buterin referred to are the challenges that arise when the Ethereum blockchain, with all its decentralized applications and protocols, migrates from Proof-of-Work to Proof-of-Stake. The test scheduled for the Ropsten testnet is, therefore, key to the timely execution of the Ethereum Merge. If critical issues identified during the test take long to be resolved, it would delay the Merge. 

Difficulty bomb on the Ethereum blockchain is ticking away 

Justin Drake, an Ethereum researcher, revealed that the merge is currently on track and at the top of the development team's priority list. Drake has a "strong desire to make this happen before difficulty bomb in August."

By difficulty bomb, Drake refers to a program coded in the Ethereum blockchain intended to slow down the blockchain. This would encourage migration from Proof-of-Work to the Proof-of-Stake consensus mechanism. The bomb achieves this by increasing the difficulty for miners operating the Proof-of-Work consensus mechanism post the Merge. 

What follows the Merge

The Ethereum Merge is far from the end of the road for the blockchain network. The development team has lined up the Surge, Verge, Purge and Splurge, after the successful migration of Ethereum to Proof-of-Stake.

The Surge will tackle scaling and improvements through the implementation of sharding techniques. The Verge would apply Verkle Trees, an upgrade that allows for smaller proof sizes and encourage "statelessness" in the Ethereum blockchain. Statelessness is the passing of the responsibility of provisioning and storing Ethereum world state to a participant or witness in the altcoin's network. The Purge will address Ethereum Virtual Machine (EVM) simplification and the final milestone, while the Splurge would implement miscellaneous and important extras on the altcoin's roadmap. 

Ethereum price could break out if it reclaims $2,800

A crypto analyst and trader, @IamCryptoWolf, believes that Ethereum price could reclaim $2,800, after evaluating the ETH trend. 

The fractal pattern is similar to what the analyst observed in October 2016 on the Ethereum price chart, and the first fake-out is followed by the failure of the ascending triangle. The analyst eyes a target of $4,200 for Ethereum price in the long-term if the ascending triangle pattern plays out. 

ETHUSD chart ETH ethereum

ETHUSD chart

FXStreet analysts dive into strategy to profit from Ethereum price at $2,500. 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

This crypto investment strategy will help you triumph after the bear markets

This crypto investment strategy will help you triumph after the bear markets

A brief technical and on-chain analysis on a few cryptos. Here, FXStreet’s analysts evaluate where some of the hottest cryptos on the market could go next.

More Cryptocurrencies News

New sources affirm USDD is on a path to collapse like Terra’s UST

New sources affirm USDD is on a path to collapse like Terra’s UST

Tron launched its stablecoin USDD in May, at the same time as Terra’s sister tokens LUNC (formerly LUNA) and UST were imploding. The stablecoin recently detached from its $1 peg, sparking fears of a crash. 

More Tron News

Why Dogecoin, Shiba Inu, and LUNA 2.0 should be on your watchlist

Why Dogecoin, Shiba Inu, and LUNA 2.0 should be on your watchlist

A brief technical and on-chain analysis on a few cryptos. Here, FXStreet’s analysts evaluate where some of the hottest cryptos on the market could go next. 

More Dogecoin News

How trade SafeMoon price for a quick profit?

How trade SafeMoon price for a quick profit?

SafeMoon price gets ready for a quick run-up amid a bearish challenge. As a result, SAFEMOON has been consolidating below a crucial resistance barrier. Investors can expect the altcoin to resume its run-up soon.

More SafeMoon News

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.

Read full analysis

BTC

ETH

XRP