ETH rises 5% after Ethereum's Sepolia testnet success
Ethereum's merge trial on the public test network Sepolia was a success, clearing the path for the cryptocurrency's shift to the proof-of-stake (PoS) consensus mechanism.
The final merge testing will take place on the Goerli network in the coming weeks before the formal merge on the Ethereum mainnet may be approved.
The move to a Proof-of-Stake mechanism in Ethereum 2.0 has been delayed in the past. The Ethereum mainnet transition is currently scheduled for the end of the year.
Terence Tsao, an Ethereum protocol developer, stated that the Merge transfer was successful, but about 25-30% of validators went offline following the Merge due to "wrong configs." He did, however, emphasise that "hiccups will not delay the Merge."
During the stream, Superphiz, a founding member of the ETHStaker Community, emphasised that the Merge's success would not be known "for several hours or even until tomorrow."
The final test will take place on the Goerli test network. Superphiz further stated that the Sepolia test results would determine the Merge's timing.
The testnet Merges serve as a "dress rehearsal," allowing Ethereum developers and independent project developers to understand what to expect when the actual Merge occurs.
During the broadcast, Ethereum co-founder Vitalik Buterin revealed that "much more third-party infrastructure that isn't present on the testnets" will be one of the issues confronting the main network Merge.
"So there might be non-critical issues like that that will just pop up in the Merge that we're not catching with these tests […] There's a lot of peripherals that are just not getting tested, and that's unavoidable and probably fine." The news cheered Ether (ETH) investors, as the ETH price went up by 5% in the previous 24 hours and is now trading at $1,175. Earlier this week, the world's second-largest cryptocurrency saw significant selling pressure.
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Author: Priya Kumari
Priya is a passionate content writer and the co-founder of Finendorse. She is an enthusiastic crypto investor and has a huge interest in the upcoming digitisation age.