Ethereum: Merge checklist instills hope in the community

Sahana Kiran
Source – Unsplash

All that the crypto-verse is currently talking about is the Merge. The network-wide update that would transform Ethereum into a proof-of-stake [PoS] network has been a prominent topic of discussion. While some remain optimistic about its occurrence in September, a few others are pretty skeptical, considering the many delays it encountered in the past. However, Tim Beiko from the Ethereum network restored hope among the community with his tweet.

Earlier today, Beiko shared a link that revealed ‘The Merge Mainnet Readiness Checklist.’ Almost everything on the list was ticked off, and this further pointed out that the Merge was on track in September.

The only things left to check off were Stress tests which included, Single client load/metrics, and network load testing, under which larger blocks and shorter slot times were included. In addition, threat analysis and resource exhaustion post-merge were yet to be carried out.

Amidst this, several platforms continued supporting Ethereum’s big transition. Just yesterday, Aave urged its members to extend support for Ethereum’s PoS chain. Earlier today, Yuga Labs revealed that it was all set for the upcoming Merge. However, the firm also affirmed that it would recognize NFTs on the PoS chain alone in case of a hard fork.

Coinbase to drop support if regulators get involved?

Various speculations about how Ethereum could fall under the purview of regulators following the Merge have surfaced, and several community members have been expressing concerns over the same. Considering this situation, Coinbase’s CEO Brian Armstrong suggested that the firm would pull the plug on its Ethereum staking services.

Earlier this month, Coinbase went on to open up its doors for Ethereum staking.

While there seem to be other options, Armstrong hopes such an issue wouldn’t transpire.

Meanwhile, Ethereum was enduring quite a drop in terms of its price. ETH had plummeted by over 5 percent and traded at $1,843.39 at press time.