The exact time of the Ethereum network merger has been announced

Leading Ethereum developer Marius Van Der Weyden has announced the exact time when the Ethereum network will merge (Merge). The expert pointed out that the largest project update in history will take place on September 14 at 22:57:34 (Kyiv time).

The developer emphasized that this will be a breakthrough for the entire cryptocurrency industry, as it will reduce the power consumption in Ethereum by about 10 thousand times. Currently, Ethereum based on the PoW (Proof-of-Work) mechanism uses from 0.1% to 0.3% of all electricity generated in the world. After switching to Proof-of-Stake (PoS), consumption will be reduced to almost zero.

According to him, «the merger will also lead to a sharp reduction in the production of new ETH coins.» Since the introduction of the EIP-1559 mechanism in August 2021, the network has been burning through basic transaction fees, many analysts predict that the cryptocurrency asset will become deflationary after the merger.

The developer emphasized that not only users but also the entire team is looking forward to the merger of Ethereum networks (Merge). This event will be the most important milestone in the development of the cryptocurrency platform in history.

Earlier, we wrote about 5 false expectations from the Ethereum merger, which were emphasized by experts. We also mentioned that the EtherumPoW fork lost half of its value as the date of ETH’s transition to PoS approached.