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Ethereum Foundation provides more information on the Merge and what to expect in the coming months

The Ethereum Foundation provides more information about Consolidation and what to expect in the coming months. The unified upgrade marks the official transition to proof-of-stake consensus.

Ethereum difficulty to be felt on blockchain in June

The existing Ethereum Mainnet will “merge” with the beacon chain’s proof-of-stake system, completing Ethereum’s transition from Proof-of-Work to Proof-of-Stake.

Ethereum developers have successfully released “Oil,” the latest unified testnet. The changes to Furnace’s testnet incorporate changes to the Unified specification based on edge cases discovered on Kintsugi and some renaming. Although the PoS change on the unified test network has revealed some implementation issues, the Ethereum Foundation says that the unified test will continue with all hands on deck. Kiln will be the last new public test network to launch if no critical issues are detected.

According to the Ethereum Foundation, the testnet and mainnet upgrade progress will be shared through community media.

Market observers anticipate increased institutional adoption following the completion of the Eth 2.0 upgrade.

According to Santiment, Ethereum’s top 10 whale addresses accumulated 4.3% more total supply than today a year ago. Santiment notes that 23.7% of all ETH held by these wallets is still very close to the highs reached at the end of January.

Ethereum faces one of the most significant exchange flows, with nearly 151,000 withdrawals from exchanges on March 23, as IntoTheBlock data shows. On-chain analysis shows that ETH reserves on centralized exchanges have declined rapidly by 2022, to over 1.08 million.

Ethereum 2.0 staking contracts that have reached a total value of more than 10 million ETH are continuously increasing as more and more Ethereum investors and traders choose stable 12% APY options instead of keeping their funds on trading platforms.

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