Ethereum’s journey to a proof of stake system may reach its destination earlier than expected. Tim Beiko and other Ethereum blockchain core developers released a projected date of September 15. The core developers, however, noted that the new date would come into focus if the network’s Total Terminal Difficulty or TTD reaches 58.750 sextillions.
TTD marks the end of a Proof of Work-powered (PoW) Ethereum and the start of a new stake-based blockchain. It can also mean the last PoW-powered block’s overall difficulty.
Beiko followed the new tentative date with a confirmation on Github. Although it’s a projected date, the journey to a PoS-powered Ethereum has been promising. For example, previous testnets have operated relatively well, paving the way for a smooth transition in September.
The new date is 72 hours shorter than the previous date. Another key event needed to clear the way for the merge is the successful implementation of the Bellatrix fork anticipated on September 6. Previous successful testnets include Ropsten, Sepolia, and Goerli, all of which happened between June and August this year.
Ethereum pegs the need to transition to a PoS system to reduce the high energy consumption associated with PoW-powered networks. The second-largest blockchain targets a 99.99% energy reduction with the shift and boosts scalability without compromising security. Despite its energy-saving promise, miners who make a living from the PoW system have sent unclear signals on whether they’ll also shift from mining to staking.
Some like Chandler Guo are pushing for a new Ethereum fork named ETHW. In a Tweet on August 10, Guo supported his argument with a quote from the famous German philosopher Friedrich Nietzsche. “He who fights too long against dragons becomes a dragon,” Guo quoted.