After the Beacon Chain combines with the Mainnet, Ethereum is likely to switch to a proof-of-stake mechanism within the next few days. The event, dubbed “The Merge,” is generating some interest in the cryptocurrency community, and Google has integrated a dynamic countdown into its search results to assist users in keeping track of when it will take place. Simply search for “the merge” or “Ethereum merging” online to learn more.
The difficulty and hash rate of the network are just two variables that could affect when the merge occurs. As of this writing, Google’s timer has gathered enough information to predict that the fusion will take place in fewer than three days. In typical Google fashion, the timer also has a white panda and a black panda racing towards each other, with the two bears coming closer and closer until they eventually become one.
Everyone is so excited for what is coming and appreciative of the work that has been going into this for years. pic.twitter.com/3bgifV6Ywn
— Sam Padilla (@theSamPadilla) September 9, 2022
Many people have strong feelings about Ethereum’s decision to switch to proof-of-stake. Ethereum will utilize validators instead of miners to validate transactions. While anyone with enough ether may theoretically become a validator, this approach has been criticized for its potential to concentrate power in the hands of a select few. Proof-of-stake is favored by some because it consumes less energy than proof-of-work; nevertheless, proof-of-work cryptocurrency miners recently stabilized the electrical grid in Texas, allowing the state to weather a heat wave.
Ethereum’s price dropped to roughly $880 on June 18 but has since recovered to $1,730 as the merge nears. What happens to the price in the days ahead as the merger takes effect will be intriguing to observers.