The block production process on the Beacon Chain has a few additional steps than an equivalent Proof-of-Work chain. 9YnloTWSi1- vitalik.eth AugBlock Production and Participation predicts the merge will happen around Sep 15, though the exact date depends on hashrate. This means the ethereum PoW network now has a (roughly) fixed number of hashes left to mine. With the Merge date just days away, this report will introduce a suite of new metrics to help understand the Ethereum Proof-of-Stake system, and will profile the performance of the Beacon Chain since the genesis block on. The Merge has been formally scheduled to take place at a Total Terminal Difficulty of 58.75e21, which is estimated to be on the 15-September-2022. In many ways, this event could be considered the equivalent of the swapping out the engine of a $200 Billion jet, which is also carrying hundreds of Billions of dollars worth of financial infrastructure, whilst also travelling at full speed. The Merge marks the end of many years of research, engineering, and development, and will transition the Ethereum blockchain from Proof-of-Work, to a Proof-of-Stake consensus mechanism. The Ethereum Merge is one of the most impressive engineering feats to take place the cryptocurrency industry, and the event is fast approaching. This report was released as a collaboration between Glassnode, and CoinMarketCap Research, and you may download the PDF version of the report here.
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