The Ethereum community is getting ready for The Merge, which will see mainnet become a replica of the Beacon Chain and include Proof-of-Stake (PoS) with the Kiln Merge Testnet. Furthermore, future smart contract blockchains have proved that the proof of stake idea is more effective than the proof of work approach. The Kiln Merge testnet will be the final testnet before the existing public testnets are updated, according to the Ethereum Foundation.
The Merge will have relatively minor effects on a subset of Ethereum contracts, none of which should break. During post-merge, an Ethereum full node is said to be a combination of a consensus layer client, which executes proof-of-stake and an execution layer client, which stores user-state and conducts transaction computations.
A larger view of the Kiln Merger Testnet on Ethereum
According to statistics, Ethereum (ETH) traded at roughly $2,685, up almost 6% in the last 24 hours. Tether USDT, with a market cap of $80.3 billion, is the third most valuable digital asset, with a market value of $322.2 billion.
The overall crypto market value was around $1.8 trillion at the time of reporting, and ETH had a market dominance of 17.2 percent. For the time being, the Kiln Merger Testnet on the Eth ecosystem is expected to increase community trust in the upcoming Merger.