Introduction
The merging of Ethereum and Ethereum Classic is finally happening. Both blockchains will be one, and like similar merges in history (like the USSR), this event is going to cause a big change for both blockchains. The hard fork itself will happen at block 9,200,000 on the Ethereum blockchain, which is scheduled for sometime this month.
The Ethereum Improvement Proposal, EIP, for the coming merge between Ethereum and Ethereum Classic.
EIP-2565 is an Ethereum Improvement Proposal for Ethereum. A proposal to merge the two forks of Ethereum, the original fork by Vitalik Buterin and now this newer version. It states that they should be merged into one chain with a single token (ETH) and no replay attacks.
EIP-2565
EIP-2565 is the merge proposal for Ethereum and Ethereum Classic. This proposal was officially announced on May 23, 2022 and was created under the leadership of Vitalik Buterin himself. It aims to combine the two blockchains into one blockchain that will be called Eth2 or ETH2 for short.
The hard fork is scheduled for block 9,200,000 on the Ethereum blockchain.
The hard fork is scheduled for block 9,200,000 on the Ethereum blockchain. The hard fork was scheduled for block 9,200,000 on the Ethereum blockchain.
The fork will be called “Muir Glacier,” just like the coming hard fork on Ethereum in early 2020.
The merge will be called “Muir Glacier,” just like the coming hard fork on Ethereum in early 2020.
The merging proposal has been named EIP-2565, after a glacier that is part of the Muir Glacier complex in Alaska. The proposal was authored by Yoichi Hirai, an Ethereum developer and member of ConsenSys’s Developer Relations team.
Gas costs will be reduced from 4 to 1.
Gas costs are a fee paid to miners for processing transactions on the Ethereum blockchain. Gas is paid in ETH, which can be acquired by mining or purchasing it from an exchange. Gas costs are paid for by the sender of a transaction, not the receiver.
In order to send ether on Ethereum’s blockchain, you will need to pay a small amount of ETH as gas cost before your transaction is included in a block and processed on the network. This payment is for miners who have set up their computer farms with supercomputers in order to verify each block on Ethereum’s blockchain and earn some Ether from them (the reward).
The merge is happening this month and it’s going to cause a big change for both blockchains
- The merge is happening this month.
- It will cause a big change for both blockchains.
- They are called Ethereum and Ethereum Classic.
- They are both blockchains, and they will be forked (or split) at block 9,200,000 on each blockchain.
Conclusion
We are excited to see what happens with Ethereum and Ethereum Classic now that they have merged. This is a big step in creating a blockchain ecosystem for developers and investors alike!