In the next few days, Ethereum is expected to switch to a proof-of-stake model after its beacon chain merges with the mainnet. This event, known as the “merger”, has had a considerable impact in the crypto space,To help people keep track of when the merge happened, Google added a dynamic timer to its search results. Just do a Google search for “merge” or “Ethereum merge” to bring up the countdown clock.
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There is no set time for the merger, and it depends on many factors, including difficulty and hash rate. Google’s timer is actually an estimate of when the merger will take place, and at the time of writing, it will happen in three days. There’s also a white bear and a black bear running at each other on the timer in fun Google style, the shorter the time, the closer the two bears get…until they merge into one black and white panda.
The move to proof-of-stake is a controversial move for Ethereum. Instead of miners, Ethereum will use distributed validators to verify every transaction. Anyone can become a validator as long as they hold enough ether, but some argue that this model is prone to abuse because it could concentrate power in a small group of people. Proponents prefer proof-of-stake because it uses less energy than proof-of-work, but looking at it another way, cryptocurrency miners using proof-of-work recently helped stabilize the Texas power grid, making it through heat wave.
The price of Ethereum made a low of around $880 on June 18, but has recovered to $1,730 at the time of writing as the consolidation looms. It will be an interesting topic to see what happens to the price in the coming days as the merger progresses.