The team of developers of the Ethereum Foundation, together with the developers of the client teams, which are the software responsible for running Ethereum, will perform, in the next few hours, the Merge in Ropstenone of the oldest testnets in the ecosystem.
On the 31st, the first phase of the process was carried out during the launch of Ropsten Beacon Chain, a blockchain based on Proof of Stake which will serve as the basis for The Merge with Ropsten as the execution layer.
For Carlos Henrique de Freitas, an analyst at Mercurius Crypto, a crypto asset research house, this test is crucial to define what the next steps will be and even the deadlines for Ethereum 2.0.
“It’s a pretty accurate simulation of what we’re likely to see in The Merge on Mainnet. If sync issues or something like that are found on any client, the teams will have time to work for the next tests which should happen between June and July”, he points.
Recently, Ethereum developer Tim Beiko noted that the main specifications of The Merge are ready, and adjustments are being made in each of the tests. Carlos Henrique points out that if this testnet goes without major problems, it means we have a good time frame for the project.
“Considering a successful test, it is plausible to imagine a more optimistic scenario for deliveries. In general terms it is not a big problem if something goes wrong, we are in the first of the three tests, but the market can interpret it negatively”, emphasizes the analyst.
What is the testing history?
At the end of last year the Kintsugi testnet was carried out, which simulated Ethereum in the already post-merge scenario. At that time, some applications were able to test operations considered essential for the teams to adjust the final specifications of the platform.
In March of this year, we had the Kiln testnet, crucial to finalizing the final specifications of The Merge. It was possible to test Merge between a Beacon Chain-like network and an execution layer, but in a closed environment.
“The result inside was positive. Even with some sync issues on smaller clients, the network behaved in a healthy way. The team’s idea now is to simulate something similar in an open environment, the public testnets, where we’re headed”, says the analyst.
Regarding expectations, Carlos points out that with The Merge, the Ethereum network begins to behave based on the Proof of Stake consensus algorithmwhich leads to a improvement in energy efficiency, the alignment of the token holder, the applications and the validator, in the reduction of hardware barriers, in centralization. risks, as well as in the pressure of token sales and the implementation of haircut mechanisms.
The analyst points out that one of the most anticipated points by the platform is the reduction of emissions by about 90%, which is known as triple halving. “With this we will have a token that will be issued less and that already has a demand dynamic that, according to projections, will make it deflationary.”.
Another important issue highlighted by Carlos Henrique is that after The Merge, all capital held in the Beacon Chain will remain locked up until the Shanghai Fork, the first Hard Fork to be made after The Merge. “We will continue in a scenario where capital will continue to be deposited in Beacon Chain. With that, there is a possibility that the return of validators will increase shortly after the Merge, since they will collect part of the network fees, which does not happen today”, he highlights.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.