Ethereum’s Ropsten testnet will be merged on June 8 before the rollout of the proof-of-stake consensus expected in the final quarter of the year.
The announcement comes after the Ethereum developers increased the network’s bug bounty up to $500,000 in ETH or DAI at the start of the week. The bounties are awarded to developers who identify bugs in the network’s testnet or mainnet.
After the shift, the transactions on the network will be processed through a proof-of-stake consensus from the current proof-of-work model. The protocol will be supported by stakers and not miners as it is with the PoW.
The migration from one consensus to another is a long process that requires multiple testnets to be implemented before the final deployment on the Mainnet.
The announcement has done little to improve the value of the Ether token, which is currently trading at 5% drop in the past day at $1,960.
Source: Coindesk
