Ethereum Merge Officially Scheduled for September 15th

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…

Circle, Tether Announce Sole Support for Ethereum POS Chain

Circle and Tether – issuers of the two largest stablecoin, USDC and USDT – have confirmed that they will only support redemptions on Ethereum’s proof of stake chain, post-merge. By contrast, any possible Ethereum forks that emerge in the aftermath will be left behind by both firms.  Rejecting the Miner Revolt Per Circle’s announcement on Tuesday, the company can only viably support a single version of the Ethereum state. “Our sole plan is to fully support the upgraded Ethereum PoS…

Ethereum Merge will Decrease Demand for GPUs, New Research Suggests

Morgan Stanley says changing to Proof of Stake might not solve Ethereum's scaling problems.   An equity strategist for Morgan Stanley claims Ethereum beacon-mainnet merge will cause demand for graphics processors to plummet in the coming months. The Ethereum platform has been undergoing a parade of testnets preparing for its merge with Beacon Chain. This merge is a move to facilitate the blockchain's transition from operating a Proof of Work model, to Proof of Stake.  The PoW consensus model understandably…