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Reading: Attention! Ethereum Developers Raise Warning for the Committee ahead of The Merge
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Voice of Crypto > News > Attention! Ethereum Developers Raise Warning for the Committee ahead of The Merge
News

Attention! Ethereum Developers Raise Warning for the Committee ahead of The Merge

Jim Haastrup
Last updated: 2023/03/14 at 12:42 PM
Jim Haastrup Published September 2, 2022 March 14, 2023
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VOC, Voice of Crypto, Ethereum

In the crypto community, the upcoming Ethereum merge has been on everyone’s lips for a while. Moving the Ethereum protocol from a proof-of-work algorithm to a proof-of-stake algorithm is a big step in the right direction and a potential game-changer for the network as a whole.

Contents
Wijden’s Point Key RisksWhy Might This HappenPreparations for the MergeWhat Does This Mean For Ethereum’s Price

But such a big step does not come without concerns.

This merge is probably the most ambitious software upgrade on the Ethereum network. If all goes according to plan, the network shifts from its energy-intensive proof of work consensus algorithm to a ‘proof of stake’ system. This upgrade is expected to happen on September 15, 2022, as clients and developers alike prepare for the merger of the Ethereum Mainnet with the Beacon Chain.

However, an Ethereum-Network developer on go-Ethereum (Geth), Marius Van Der Wijden, warned that running multiple consensus layer nodes on one execution layer node such as Geth is unsafe, and may cause execution issues.

Wijden’s Point Key Risks

Marius Van Der Wijden has stated that running multiple consensus layer nodes on a single execution layer may have catastrophic consequences.

In the tweet, Wijden states that while running multiple validators on a single consensus node may be okay, running multiple consensus layer nodes on one execution layer will only work for a while until it crashes horribly.

Why Might This Happen

With this new upgrade, different consensus layer nodes at some point may have different states than the execution layer nodes. A scenario like this may result in execution and consensus conflicts. As a result, it is important to ensure that the execution and consensus layer nodes have a 1:1 relationship.

The consensus nodes are responsible for setting the head of the execution layer. If the two layers have conflicting accounts of events, a ‘flip-flop’ occurs, causing the re-execution of multiple blocks in the chain.

It is easy to see the disaster that will likely follow if this happens.

Preparations for the Merge

Ethereum clients worldwide have released their updates in anticipation of the merge for the consensus and execution layers, respectively. The clients for the consensus layer upgrade include Teku, Nimbus, Lighthouse, Prysm, and Lodestar. The execution layer clients include Besu, Erigon, GoEthereum, and NetherMind.

The nodes involved in the upgrade must have these clients upgraded and ready for the successful implementation of the merge. Before the merge happens on the 15th of September, the Bellatrix update has to occur on the Beacon Chain at 11:34 am UTC on September 6th. Right before the Paris upgrade of the execution layer on September 15th.

These two upgrades will successfully merge the Ethereum Mainnet (execution layer) with the beacon chain (consensus layer).

What Does This Mean For Ethereum’s Price

The price of Ether, the native cryptocurrency of the Ethereum network has soared in the days leading up to the merge. But that does not determine what happens after the merge.

Ethereum Price Chart
Ethereum Price Chart | Source: TradingView

In the last 24 hours, the price of ether has soared nearly 10% and currently trades at $1570. However, there are concerns about this price movement being short-lived due to the whales selling and over $2 billion in options expiry after the merge on September 15th.

That said, without mentioning the price of ether being deflationary after the merge.

 

Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research)

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