As you know, Ethereum is on the eve of a huge transition. Ethereum is expected to switch from the Proof of Work consensus mechanism to the Proof of Stake by June.
The major transition will be completed when the existing chain of Beacons and the existing chain are combined in June. In order not to encounter bad scenarios, frequent tests are carried out on the network. A similar test was carried out today.
Earlier on Monday, Ethereum developers stress-tested the new software, initiating a fork called the "Shadow Fork". In a tweet, Ethereum developer Marius Van Der Wijden said that they detected a new bug thanks to the test, but that the installation went mostly smoothly and it was a "huge success".
The test is one of the latest in Merge, the software update that will change the way transactions are ordered on the Ethereum network. Currently, Ethereum miners can verify transactions using giant server farms. After the merger, miners will be out of work and in the new system, called Proof of Stake, transactions will be verified by those who stake their Ether on the network. The change is expected to reduce Ethereum's energy use by around 99%.
Ethereum's market cap of over $400 billion depends on this merger going smoothly. Not only that, but Ethereum and its thousands of business models and the fate of millions of users also depend on a smooth transition. According to DappRadar data, there is a TVL (total locked value) of $125 billion in protocols on Ethereum. Similarly, the billion-dollar NFT market is mostly built on Ethereum.
Analysts say that no major transition of this scale has ever occurred in the history of blockchain. There is also the possibility of things going wrong in such a big transition. That's why Ethereum developers have been testing nonstop for months to make the transition go smoothly.