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Usha Yadav
Aug 1, 2022
by Usha Yadav

Tether to Support ETH 2.0 Amid Widespread Speculations of Merge Delay

Tether ETH 2.0

Table of contents

  1. Ethereum Closer to ETH 2.0 with Ropsten Testnet Merger
In response to numerous rumors that the Merge may be postponed again, Bitfinex and Tether's chief technology officer Paolo Ardoino declared on Sunday that Tether plans to support ETH 2.0. Although the Merge has been postponed repeatedly, developers claimed it is now anticipated to happen around the week of September 19, although the exact date is not yet known.

The Merge, which will change Ethereum to a Proof-of-Stake (PoS) consensus method, should result in a 99.7% reduction in the network's electricity use. Since the Georli and Sepolia testnets have not yet switched from the Proof-of-Work (PoW) consensus process to the Proof-of-Stake (PoS) consensus mechanism, there has been increased speculation that the Merge may be delayed over the weekend. Additionally, according to a study published by cryptocurrency hedge fund Galois Capital, over 33% of respondents anticipate a split of Ethereum into two chains.

Ethereum Closer to ETH 2.0 with Ropsten Testnet Merger

With the Ropsten testnet Merge, Ethereum's largest smart contract blockchain moved closer to becoming a PoS network. Ropsten, one of Ethereum's oldest testnets, has successfully combined the PoS Beacon Chain with the PoW execution layer.

Ropsten is one of the final testnets before Beacon Chain's Merge with the Ethereum mainnet, which is anticipated to go live in early August. The Merge is a crucial milestone for the ETH2 upgrade. PoS networks are validated by nodes that have staked crypto in the network, whereas PoW networks require computational power and energy to validate the network.

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Tether proof of stake proof of work PoS PoW ETH 2.0 Merge
Tether to Support ETH 2.0 Amid Widespread Speculations of Merge Delay
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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