Ether, the native token of the Ethereum blockchain, is leading the altcoin rally in the London session; as it is currently up 15% to trade a little above $1,900 as of the time of this writing, as bulls cheer on the success of the Goerli Testnet.
The Goerli Testnet, as previously reported by Nairametrics, is a beacon chain merger; which will allow the Ethereum blockchain to switch from a Proof-of-Work (PoW) consensus mechanism to a Proof-of-Stake (PoS) consensus mechanism which is touted to be more energy efficient than the former.
Testnet like these are rehearsals for the eventual mainnet merger. Thus far, the Ropsten and Seploia networks have been merge with their respective beacon chains.
The Goerli testnet merge, which has been finalizewithout any major issue today, suggests that there will be no delays; to the tentative Ethereum Merge date set for September 19.
Numerous key devs and figures in the Ethereum ecosystem have taken to Twitter to share their enthusiasm; over the successful merge, such as core dev Preston Van Loon and podcaster/ETH proponent Anthony Sassano. The Merge is coming.”