"A few months left before the long-awaited The Merge update, which will be an important milestone in the development of Ethereum. Not only the consensus algorithm will change, but Ethereum will become more environmentally friendly and deflationary, which can positively affect its price in the medium and long term.
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The transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) is the most important and complex upgrade in the history of Ethereum. The process is reaching the finish line.
The update will change the consensus mechanism that determines the principles for validating transactions and issuing blocks.
Since 2014, developers have been exploring the possibilities of PoS as an alternative to PoW systems. Due to the novelty and insufficient knowledge of the then-new algorithm, Ethereum was launched in 2015 based on Ethash technology based on Proof-of-Work.
In the same year, the developers presented an ambitious roadmap, where the final stage of development was called Serenity. He assumed a complete transition from Ethash to a stable PoS algorithm.
One of the main motivations is to increase the energy efficiency of Ethereum. The developers expect The Merge to reduce energy costs by more than 99.9%. Instead of miners, validators will play a central role in the network, each of which requires 32 ETH in the form of collateral.
According to Galaxy Digital Research researchers, the upcoming upgrade will not change the algorithms for user interaction with dapps in any way. Exchange clients, custodial services, as well as ordinary ETH holders will not be required to move their coins anywhere.
When is Merge activated?
Testing of The Merge is in full swing: on June 8, Ethereum developers switched the Ropsten network to PoS. Goerli and Sepoila testnets are expected to transition within a few weeks.
In May 2022, one of the lead developers, Preston Van Loon, announced that the mainnet transition to PoS would take place in August. Vitalik Buterin also called the last month of summer the most likely date, but allowed the event to be postponed to September-October in case of ""potential risks"".
According to conservative scenarios from Messari, The Merge will be activated at all in November-December.
Analysts expressed confidence that after the upgrade, Ethereum would no longer be perceived as a “utopian experiment”. On the contrary, cryptocurrency will attract long-term investors.

Messari has assumed that the staking reward will be in the range of 7%-13%.
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