Ethereum's public test network Ropsten will undergo a "merge" next month before being rolled out to the main network, according to developer activity on GitHub.
The "merge" refers to Ethereum's long-awaited switch to a proof-of-stake network from its current proof-of-work design. After the switch, transactions on Ethereum would be processed and validated by stealers instead of miners, which in turn would create a faster and "greener" network.
Switching the blockchain from one consensus mechanism to another is a complex change that requires multiple tests on test networks like Ropsten before it is finally deployed on the main network.
Separately, Ethereum developers earlier this week increased bug bounties up to $500,000 in Ether (ETH) or Dai (DAI). These are awarded to developers who find vulnerabilities or bugs in Ethereum on both public test networks and the mainnet.
The Ropsten merge is expected to take place on June 8. The mainnet rollout is expected in the last quarter of this year. However, some features, such as the ability to withdraw deployed ETH, will have to wait until after the merge.
The new development has not given Ether much of a boost as general macroeconomic fears continue to dominate all risk markets. Ether is down 5% to $1,960 in the last 24 hours, while Nasdaq was down nearly 5% on Monday and Nasdaq futures were down 1% before the market opened on Tuesday.