Ethereum's public proof-of-stake network Ropsten will undergo a "merge" next month ahead of the mainnet launch, according to developer activity on GitHub.
The merge refers to Ethereum's long-awaited switch to a proof-of-stake network from its current network design, Proof-of-Work. After the change, transactions on Ethereum would be processed and validated by stealers instead of miners, which in turn would create a faster and "greener" network.
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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 implemented 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 discover vulnerabilities or bugs in Ethereum, both on the public test networks and on the mainnet.
The Ropsten merger is expected to take place on June 8, with the mainnet launch expected in the last quarter of this year. However, some features, such as the ability to withdraw deployed ETH, will have to wait until the merger is complete.
The new protocol did not result in a large supply for Ether as macroeconomic fears continue to dominate all risk markets. Ether is down 5% to $1960 in the last 24 hours, along with a nearly 5% decline on Nasdaq on Monday and a 1% drop in Nasdaq futures before the market opened on Tuesday.
This article was translated by Marina Lammertyn.