THE Ethereum update from PoW to PoS (The Merge) is approaching to become a reality with the launch of the final testnet this Thursday (10/03/22). DApss, NFTs and other contracts running on blockchain of Ethereum will behave without proof-of-work validation.
Ethereum update on testnet
On the afternoon of this Thursday, March 10, 2022, the Ethereum Foundation released what should be the final testnet before The Merge update is applied to the Ethereum mainnet. The foundation has made a guide available so that other participants can join the tests. the project as after a lot of development, bug fixing, discussions and simulations around the ethereum update called The Merge (The Fusion), everyone involved in the ecosystem will be able to see how the network will behave during what should be three months of testing.testnet of the ethereum updateMarius van der Wijden, a developer at the foundation invited nodes, developers and creators to join the testnet, which is still working with proof of work, ahead of the change in the middle of next weekto test how each system will react to the transition:
“The network is still in Proof of Work (PoW) at the moment the merger will probably take place in the middle of next week. So join while the network is still in PoW and check if your nodes/software/defi-protocol/NFTs survive the transition!”
The roadmap of a software development can be very unpredictable, because unexpected bugs can always be found or new ideas arise that need to be implemented. When we talk about a live network, as robust and active as the Ethereum mainnetthe complexity gets even higher, as it involves different systems, protocols, interdependent software, nodes and a big trillion market behind. That’s why, even making predictions, dates can be changed in the blink of an eye and everything must be done very carefully, tested, corrected and retested until apgood functioning probability is satisfactory.And of course, even if everything goes well on the testnet, it is possible to expect a different behavior when iimplemented on the main network. It’s one thing to have a controlled test environment and another to be the vast computing jungle out there. Anyway, official Ethereum update is scheduled for the second half of 2022.This should make ETH investors very happy because the cost to manage the network, which they pay, will be reduced – in theory – by about 14,000 ETH per dayor $36 million, for just 1,387 ETH per dayor US$ 3.6 million.Another benefit that the update will bring is to reduce inflation by approximately 4% in ether (ETH) currently to around 0.4%causing the currency to become effectively deflationary due to a part of the transaction fees being burned. become an eco-friendly global financial network with fixed monetary parameters.Read more:NovaDAX is full of news! One of the largest cryptocurrency exchanges in Brazil has now ZERO withdrawal fees in real! NovaDAX also counts zero fees for Bitcoin transactions and more than 110 listed currencies, with cash withdrawal available and high liquidity. Cryptocurrencies with the best rates on the market! Simply activate the free Novawards program and enjoy reduced rates of up to 75%. Discover the NovaDAX Card and order yours now.