As the hype builds up for the much anticipated Ethereum network upgrade, the community would hope for a smooth transition. Ethereum’s shift to the proof of stake mechanism could prove to be one of the most important events of 2022. However, there could be some issues that the ecosystem need to take care of for Ethereum Merge to be a success. Ethereum (ETH) investors, however, have no role to play in the technical shift but indeed benefit massively.
The Merge is set to be triggered at the Terminal Total Difficulty (TTD) of 58750000000000000000000. This will officially mark the network’s transition to proof of stake consensus. Meanwhile, blockchain experts warn of potential ‘issues’ during the Merge. Vitalik Buterin, the Ethereum co-founder, indicated that the Merge could happen between September 13-15.
Issues With Ethereum Merge?
Crypto insiders recently predicted that the Ethereum Merge could most likely be a successful event. Certain influencers said there are 10% chances that the transition could face hurdles. In similar lines, Kristin Smith, executive director of the Blockchain Association, said there could be small issues. Speaking to CNBC, Smith said The Merge could most likely be successful.
“I think it will be mostly successful but I am sure there will be small issues that need to be worked out. More Ethereum tokens are going to need to be locked up in order to run the operations of the network.”
Meanwhile, Ethereum’s (ETH) price appears to be retracing after the recent upsurge due to The Merge anticipation. As of writing, ETH price stands at $1,748, down 1.06% in the last 24 hours, according to price tracking platform CoinMarketCap. Over the last one week, ETH price rose by around 10.88%.
The Merge Readiness
Meanwhile, around 85% of clients are now ready for the network upgrade. With around 99.64% readiness, the Ethereum ecosystem is all set for the transition to proof of stake consensus.