Ethereum’s Proof of Stake Move Draws Closer as Ropsten Testnet Schedules for June

Ethereum’s Proof of Stake Move Draws Closer as Ropsten Testnet Schedules for June

(CoinDesk) Ethereum’s Ropsten public testnet merge has been scheduled for June 8, ahead of the eventual rollout on the main network.

The testnet merge is expected to give developers time to address bugs and potential risks ahead of the migration of Ethereum to the proof of stake consensus mechanism.

Once the migration into the PoS is done, transactions on the Ethereum network would be processed and validated by stakers rather than miners. The move will create an “eco-friendly” and faster network.

After the Ropsten merge is complete, the rollout on the mainnet is expected in the last quarter of 2022. Some features, such as withdrawals of staked ETH, will occur after the merge is finalized.

The expected public testnet comes a week after the Ethereum network developers’ bug bounties were raised up to $500,000. The bounties will be awarded to the developers who identify bugs or vulnerabilities on the public testnets and mainnet. 

ETHUSD is up +3.77%.

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