Ethereum Co-Founder Vitalik Buterin says Long-awaited Ethereum Merge likely to happen in August 

Ethereum’s transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) is one of the most anticipated developments in the crypto space. After working on it for 7 years, the network’s co-founder Vitalik Buterin says it could all come to fruition by August this year.

“We have been working on proof-of-stake for about 7 years now. But finally, all of that work is coming together. If everything goes well, then the likely plan is for the merge to happen in the summer.”

Vitalik mentioned this while speaking during the ETH Shanghai Web 3.0 Developer Summit. He added that the transition will bring many benefits such as an improved ecosystem and support for more applications. Earlier this week, the Ropsten-beacon chain merge on the Ethereum test network was successfully carried out and is one of the key milestones in Ethereum’s transition to PoS.

The current PoW Ethereum network has several shortcomings such as high transaction fees and slow processing and lack of scalability. The transition is expected to correct most of these problems and make the network more trustworthy for developers and consumers as well.

Vitalik shared that developments in “The Surge” will help to increase scalability through sharding while “The Verge” will ensure statelessness which is one of the unique features of the network under development. This will allow users to carry out large numbers of transactions and make it easier to run a node

According to the co-founder, the developments of the Surge and Verge will be enough to make the network easier to use while the team continues to simplify it to make it easier to use. He added that while the team is looking at August for the full transition, September or October may be more realistic in the case of any complications. 

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