ViaBTC | The Significance of Successful Merge of Ethereum Ropsten Testnet With Its Beacon Chain

  • 9% — nimbus-team config issue, fixed with CLI change and redeploy;
  • 8% — known concurrency bug in the nethermind, required a reboot for some nodes;
  • 2.5–3% — nimbus-besu web-sockets problem, swapped to use http.

For the majority of Ethereum miners

If the Ropsten merger goes well, the mainnet will go live in the next 2–4 months, that is, this August, as Buterin Vitalik predicted. That will mark the end of PoW-based mining on the Ethereum network. The PoS mechanism will greatly lower the threshold to “mining”, i.e. staking, for ordinary users. Advanced hardware would no longer be a must for new Ethereum miners, and they will stake ETH for verification and the Ethereum network protection, and get the corresponding ETH reward.

For the majority of developers on Ethereum

The common API interface for the pre- and post-merge architecture and reuse of existing components ensure a seamless transition. In other words, most of the existing DApps on Ethereum can be migrated seamlessly without much reform.

For the majority of Ethereum advocates

Since the EIP-1559 proposal was launched last year, the gas fee for each transaction on Ethereum has been divided into two parts: the base fee and the tip. The base fee will be automatically burned to reduce the circulating supply of Ethereum. As of June 16, 2022, a total of more than 2.45 million ETHs have been burned. With the current price of US$1,100, the total value of the Ethereum burned reached a staggering US$2.69 billion. Ethereum will truly enter the era of infinite deflation.

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