Successful execution of the Paris update and the Merge as the Ethereum Merge draws near.
Now that the Ethereum Mainnet (execution layer) and Beacon Chain are combined, about 85% of Ethereum clients are prepared (consensus layer). Additionally, the ETH price increases as the Merge readiness has reached 99.64% completion.
On September 14 at 23:36, according to the Merge tracker maintained by the Ethereum Foundation, Ethereum will switch from PoW to PoS. Less than 17,000 blocks are still available for mining.
Additionally, according to data from OKLink's Merge Countdown, the Ethereum Merge preparation is currently 99.66% complete as Ethereum clients and developers work to ensure the successful execution of the Merge. Additionally, the network hash rate, which had recently increased to 900 TH/s, has decreased to 875 TH/s.
Almost 85% of clients are currently prepared for the Merge, according to Ethernodes. Notably, the execution layer clients' nodes for 83% of Go-Ethereum (geth), 91% Erigon, 99% Besu, and 92% Nethermind are prepared. Before the Paris upgrade, all network nodes must upgrade with corrected and upgraded client releases. It's interesting to note that geth is the most popular Ethereum client, with 1143 ready nodes and 237 pending nodes.
Additionally, the Kiln testnet will be shut down following the Merge, according to the Ethereum Foundation. Actually, the testnets for Ropsten and Rinkeby will likewise be shut down in Q4 2022 and Q3 2023, respectively. Users and developers must switch to the Sepolia or Goerli testnets.
The price of Ethereum (ETH) has increased by about 15% in the past week as interest in the PoS transition increases. Aave, Uniswap, MakerDAO, and other DeFi platforms have stated their support for PoS. Additionally, the platforms have declined to support any Ethereum PoW fork.
As volatility rises in front of the Merge, the ETH price is still hovering around $1750 at the time of writing. Data indicates that the price of ETH will deflate, but not right away. Here is how the price of ETH can change following the Merge.
