Ethereum software update to take place in September

The major software upgrade to the Ethereum blockchain is expected to happen in September. As reported by the developers, it is slated to take place approximately in the middle of the month.

The Ethereum upgrade, also known as Merge, has been planned for years. It is aimed at changing the way Ethereum transactions are conducted and making the network more efficient. The verification of transactions in Ethereum will no longer be dependent on miners — equipment that consumes vast amounts of energy to process the data. The network will deploy so-called validators requiring Ether tokens.

The outcome of the blockchain upgrade will decide the fates of thousands of projects and millions of investors. More than 3,400 decentralized applications, from games to decentralized exchanges, run on a blockchain.