Ethereum (ETH) developers are putting forward a tentative timeline for the smart contract platform to merge to its proof-of-stake system.
Ethereum core developer Tim Beiko says the ETH Merge is currently planned for September 19th.
Beiko’s timeline was shared by another ETH developer, noting that the schedule of the Merge is not set in stone.
“This Merge timeline isn’t final, but it’s extremely exciting to see it coming together. Please regard this as a planning timeline and look out for official announcements!”
The highly anticipated event will allow Ethereum’s mainnet to merge with its Beacon Chain, which already runs the proof-of-stake system.
The Merge, which will give rise to Ethereum 2.0, looks to solve the network’s scalability issues by setting the stage for future upgrades including sharding.
According to Ethereum co-founder Vitalik Buterin, the smart contract platform will eventually be capable of facilitating 100,000 transactions per second via second-layer solutions following the completion of the upgrade.
More than 13.1 million ETH worth more than $15.93 billion has been staked into the ETH 2.0 deposit contract at time of writing, according to the Ethereum search engine Etherscan.
Ethereum is trading for $1,251 at time of writing. The second-ranked crypto asset by market cap is up more than 5.6% in the past 24 hours.
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