El Salvador President Nayib Bukele took a victory lap on Monday after the Bank of England’s British pound rapidly depreciated against the dollar. The institution has since resumed quantitative easing. Its action marks a clear pivot that many in the Bitcoin community predicted central banks would be forced into months in advance. Bukele’s Callout Bukele tagged the Bank of England with a triumphant “Told you,” over Twitter, scoring over 14,000 like and 2000 retweets from his followers. His brief comment…
Ethereum developers have established tentative, official scheduling for the merge on September 15th.
On that day, the network’s consensus mechanism will change from proof of work to proof of stake.
- The date was established on Thursday during an Ethereum Foundation Consensus Layer Call. Developers agreed to target either September 15th or September 16th with the upgrade.
- However, the timing remains an estimate, and devs stressed that the official date is not finalized yet.
- On Thursday, developer Tim Beiko tweeted the number 58,750,000,000,000,000,000,00. This represents the Total Terminal Difficulty value of Ethereum’s blockchain at the time of the merge, which it is expected to reach between September 15th and 16th.
- Previously, Beiko had suggested that the merge could take place on the 19th. ETH’s price has been rallying since the reveal, representing 50% of Bitcoin’s market cap once again
- The news follows Ethereum’s successful merge on Goerli – its final test net, following the likes of Ropsten and Sepolia.
The merge will reduce ETH’s issuance rate by 90%, in an event nicknamed the “triple halving.” Its also expected to reduce the network’s energy consumption by 99%.