Tim Beiko, a leading Ethereum developer working on The Merge, the blockchain’s transition to proof-of-stake (PoS), has stated that the major network upgrade will not be completed in June.
An Ethereum miner on Twitter asked Beiko if he could provide any info for the ETH miners who have been invested in securing the network and supporting the Ethereum project? Or are we going to be left out to dry?
Beiko replied to the miner’s questions over Twitter. He wrote, “It won’t be June, but likely in a few months after. No firm date yet, but we’re definitely in the final chapter of [proof-of-work – PoW] on Ethereum”.
Beiko even said he would strongly suggest not investing more in mining equipment at this point.
The update comes after Ethereum reached a major milestone on Monday. The milestone was with the first shadow fork of the Ethereum mainnet. It served as a test run for the network’s upcoming shift in consensus mechanisms.
However, three recent shadow forks of Ethereum’s Goerli testnet revealed bugs that still need to be worked out before the update is ready, according to a tweet last weekend from Ethereum DevOps engineer Parathi Jayanthi.
One mining pool operator stated on a Reddit forum for Ethereum miners that they have been “reviewing the code and running nodes on the merge testnets,” but “don’t believe they will be ready until 2023.”
Many other Reddit users are also commenting on this and even sharing it in other forums. A Reddit user shared this and added “It’s kind of a running theme in the ETH mining community how proof of stake has been ‘almost here’ for years now, but this time it’s actually true we are nearing the end.”