The Ethereum 2.0 Merge has now been activated on the Interoperable Devnet. What Is the Importance of This?

"The Merge," a critical transition update of Ethereum 2.0, is now live on the devnet, according to Ethereum developer and researcher Ben Edgington of ConsenSys development studio, indicating that the world's first smart contracts platform has reached a significant milestone.

Ethereum PoS is now one step closer to becoming a reality.

According to Mr. Edgington, the product owner of the Ethereum 2.0 Teku client implementation, the "Merge" update is now live in devnet.

Its devnet is interoperable since it communicates with various Ethereum 2.0 implementations. As a result, ETH2 aficionados may now experiment with tools for the transition to Ethereum 2.0.

Mr. Edgington posted pictures of the Ethereum 2.0 devnet's "Hello World" moment. It shows Ethereum developers, including Ethereum co-founder Vitalik Buterin, celebrating the activation of "Merge."

The location of the event is being kept under wraps. Mr. Edgington verified that it is "somewhere in Greece" when Rotki founder Lefteris Karapetsas spotted the Greek labels on the bottles.

What exactly is "The Merge?"

"The Merge" is an update that replaces the Ethereum blockchain's proof-of-work (PoW) consensus with a proof-of-stake (PoS) consensus. With "The Merge," Ethereum 2.0 becomes "fully" operational, paving the way for sharding.

This historic event will take place in the first and second quarters of 2022. Altair will go online on October 27, 2021, at Beacon Chain epoch 74240. It will rethink Ethereum 2.0's economic rationale and enable "light client" capabilities.


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