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Ethereum 2.0 Merger Spec Finalized

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Ethereum 2.0 Merger Spec Finalized

Ethereum 2.0 has finalized the specification for the full transition to Proof of Stake (PoS) known as The Merger according to a dev call.

Tim Beiko, the ethereum 1.0 coordinator, said eth 2.0 “now has a proper specification on the consensus (a.k.a. eth2) side.”

He said the specification “started as markdown files, and gradually evolved to the current python executable specification.”

They might follow the same approach for eth 1 which usually relies on guidance with opcodes through Core EIPs.

The eth 1 side has to delegate consensus to eth 2 clients through Remote Procedure Calls (RPC) with some prototypes showcased as far back as 2019.

Now however this has reached a more formal stage, at least for eth 2, with some suggesting the merger might happen early next year.

At that point ethereum will remove miners which will no longer receiving circa 15,000 eth a day after the merger as eth would run based on the amount staked.

In addition the first testnet for EIP1559 launches tomorrow, with this upgrade burning the base fee while also doubling capacity.

Further testnets are to follow as ethereum developers seemingly start delivering code after years of work.

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Source: https://www.trustnodes.com/2021/06/23/ethereum-2-0-merger-spec-finalized

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