The execution layer of the Ethereum blockchain will combine with the new PoS consensus layer known as the Beacon Chain, transitioning away from its energy-intensive PoW consensus algorithm.
When the network hits a total terminal difficulty of 58750000000000000000000, the Ethereum Merge will take place.
The biggest update to Ethereum (ETH) in its history is set to take place on September 15 at roughly 5:27 am UTC. There are several choices for those who wish to follow the Ethereum network as it makes its historic switch to proof-of-stake (PoS) in real-time. Around an hour and a half before the anticipated time of the Merge, the Ethereum Foundation has arranged an Ethereum Mainnet Merge Viewing Party live feed that will be available to watch on YouTube at 4:00 am UTC. When the network reaches a total terminal difficulty of 58750000000000000000000, The Merge will occur, and the following block will be created using a proof-of-stake process.
Who Is Participating?
The Ethereum Cat Herders, writers from Bankless and The Daily Gwei, and other guests are scheduled for The Ethereum Foundation’s live webcast. Also mentioned are Anthony Sassano, the creator of “The Daily Gwei,” and Ethereum co-founder Vitalik Buterin. They have previously taken part in testnet live streaming. Joining two hours before The Merge will allow viewers to “participate in POAP art canvas,” per the YouTube description.
Google, Wenmerge.com, and Blockchain.com all provide a rolling tally of the current total Total Terminal Difficulty and an expected Merge time for those looking for the most up-to-date countdown to the Merge. BTC.com also has a countdown of its own. Following the Merge, Ethereum will fully switch over to proof-of-stake, which is anticipated to lower its energy consumption significantly.