On Github “Ethereum Improvement” for Eth2 Merge Will Soon Be Launched
On July 22, ConsenSys researcher Mikhail Kalinin submitted a request for EIP-3675 on Github, presenting the Ethereum and Eth2 chain merger as a suggestion for improvement. And on July 23, the EIP was supposed to be discussed at a meeting of the Ethereum core developers.
Formally, the Ethereum Improvement Proposal was created for the upcoming network merger, but in the future, it will help Ether in its transition to Proof-of-Stake (PoS).
The improvement proposal will unite the Ethereum and Eth2 chains, moving the network’s consensus mechanism away from Proof-of-Work and giving participants the ability to verify transactions.
The EIP notes that since the launch of the Eth2 beacon network in December 2020, there have been no security or operational failures.
Despite the EIP, lead developer Vitalik Buterin believes the chain merger is unlikely to happen this year. But he remains optimistic about the entire cryptocurrency market, despite its disappointing state.