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Saturday, June 25, 2022

The Merge Of Ethereum Is Getting Closer

The final phase of public testing is known as the Kiln testnet and it will be launched soon as the ETH merge and it will end the PoW consensus. The foundation of ETH pressed all its stakeholders to test their network with the help of Kiln this Monday. The test can point out discrepancies and can make sure that the transition is running smoothly. 

Ethereum Final Testnet Has Been Launched

Tim Beiko, the developer of Ethereum,  stated that Kiln was working properly and it is ready to merge soon with the Beacon Chain. The launched version of testnet just has a PoW model. The kiln is not only operating for Ethereum but also for other stakerholders, operators, and developers. This is the final model before which the change will take place from PoS to PoW and the merge will be tested this week. 

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In the words of Beiko, the developers wanted to show the protocol to the users before actually launching the merge. The idea of launching Kiln was just to act like a PoW testnet and it copied the operational environment of ETH’s network. 

Kiln just works like Beacon Chain, which is the first PoS element of Ethereum 2.0. In this case, the holders of Ethereum can use their coins to stake and secure the future of the ETH network. The transition from PoW to PoS is epic and in the evolution of Ethereum and the next step is marked by relying on staked tokens and not on expensive mining hardware anymore. 

The Mainnet and Beacon Chain will be dicked by this transition. The Merge will be launched in the month of June as per an evaluation. The 10 million people who have staked Ethereum in the Beacon Chain is having an income of 4.8% for all the investors. However, the merger can increase the income to 15% as all the costs of operations will be reduced.

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