Ethereum has completed one of the final tests needed prior to its transition to a more energy efficient proof-of-stake operating model.
Specifically, Ethereum’s ninth “shadow fork” has now gone live, a critical step on way to the world’s second largest digital asset moving from its current proof-of-work model to the more energy efficient proof-of-stake system.
Shadow forks test Ethereum’s maximal extractable value (MEV) boost feature, a process that enables people who create new Ethereum to profit by manipulating their control over the network and prioritizing certain user transactions.
Ethereum is currently mined using specialized computers. But after the move to a proof-of-stake model, the coin will be earned by validating large quantities of pre-existing Ethereum.
Referred to as “the merge,” the shift to a proof-of-stake method of creating new Ethereum is expected to be 99% more environmentally friendly than the current, energy-intensive proof-of-work method.
The latest shadow fork test brings Ethereum a step closer to the merge. However, the transition to a proof-of-stake model has been repeatedly delayed and is now expected to be completed by year’s end.
The price of Ethereum has fallen 68% this year to $1,210.00 U.S. per coin.
