Ethereum’s public test net for proof-of-stake Merge set for June

Ethereum’s public test net - Ropsten, will go forward as the Merge - the final stage for the Blockchian’s switch to proof-of-stake consensus. 

The Ethereum Foundation DevOps engineer Parathi Jayanathi posted the configuration code on Github today to indicate the code is ready to be implemented.  

The test will happen in two parts, the first part is a genesis version of the consensus layer, which will go through on May 30, then the Ropsten testnet will undergo the Merge on June 8. 

‘Merging Ropsten is a huge testing milestone towards Ethereum's mainnet merge later this year,’ wrote Ethereum developer Preston Van Loon on Twitter.

Developers have been running multiple tests to prepare for the shift. Last month, developers began stress testing their assumptions on how Ethereum would work after the switch on a shadow fork. 

The Merge is the final stage for the Ethereum Blockchain to shift from the energy-intensive proof-of-work (PoW) to proof-of-stake (PoS) consensus. The long-awaited Merge will see the current PoW chain merge with the new PoS one. 

The Merge signals the end of PoW, which relies on the use of many energy-intensive nodes competing to solve mathematical puzzles simultaneously. Such is the current way ether is mined and how transactions are verified on the Blockchain. When the network successfully shifts to PoS, validators will stake ether to validate and secure the Blockchain and receive rewards. This will reduce the energy output of the Ethereum Blockchain and slash new ETH issuance by around 90%. Market analysts say that this could add deflationary pressure to Ethereum if the demand for ETH remains high. 

Developers have been running multiple tests to prepare for the shift. Last month, developers began stress testing their assumptions on how Ethereum would work after the switch on a shadow fork. 

In preparation for the Merge, the Ethereum Foundation has raised its rewards or bounty offer in its bug bounty program. Launched in 2021, the program gives payouts subject to its tiered system, offering the most for critical vulnerabilities that have a high risk impact and likelihood of happening. Bug bounty hunters can earn up to US$ 250,000, payable in Ethereum or DAI.