JAKARTA – Ethereum founder and CEO Vitalik Buterin informed the latest developments regarding the transition of ETH from Proof-of-Work (PoW) to Proof-of-Stake (PoS) through a program called The Merge.
Buterin explained that Ethereum developers are currently working on a five-stage long-term program aimed at improving the overall capabilities of the Ethereum network. Most recently, ETH developers are implementing The Merge.
The founder of the second crypto after Bitcoin said that The Merge has been implemented about 90%. The rest only needed Ropsten's trial, Buterin said.
The Ethereum CEO presented the progress of the transition at an annual Ethereum conference. He outlines improvements the development team is working on for both the short and long term.
Ethereum's transition from PoW to PoS has been long awaited by the crypto community in recent years. On the other hand, Buterin said that most of the tests had been carried out well.
According to the Cryptopotato report, Buterin further added that validators will be able to start withdrawing the ETH they have staked in the deposit contract after The Merge occurs. He also said, “after the Merge you will be able to build an Ethereum client that doesn't even know the Proof-of-Work phase that has occurred.”
Based on the Ethereum roadmap, the next phase after The Merge will be The Surge which will focus on improving network scalability by bringing a number of new features including sharding, added Buterin.
Furthermore, he outlined that once all phases of his roadmap have been implemented, the Ethereum blockchain is claimed “will be able to process 100,000 transactions per second,” said the Ethereum founder.
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