Checklist; All Preparations for the Ethereum Merge Ready

Tim Beiko, Ethereum core developer announces that all preparations in the Merge Mainnet Readiness Checklist are complete.
ETH has shown early signs of surpassing Bitcoin Pre-Merge after outperforming BTC in open interest on options trading.

The Ethereum is eagerly anticipating September 15, When the merge is supposed to be launched. Completion of all preparations in the merge Mainnet readiness checklist brings the crypto world one step closer to the date. Tim Biko, Ethereum core developer revealed through a tweet;

Merge Mainnet Readiness Checklist is all checked out ✅ Feels good 😁 https://t.co/943v4LuS7g

— Tim Beiko | timbeiko.eth 🐼 (@TimBeiko) August 17, 2022

The Merge Mainnet Readiness Checklist is a document showing tasks needed to be carried out by the developers in readiness for the merge. This document allows developers to carry out tasks such as software implementation, testing, document release, and research and development among others. Though the document states that the items listed in the checklist are not final, it’s a big step toward the Ethereum community launching the merge.

Should the merge be successful, will see Ethereum transition from Proof-of-work (POW) to Proof-of-stake (POS). The Merge Mainnet Checklist is split into different categories; Specification, Testing, Testnets, and Research and Development(R&D).

Additionally, implementation of the software, concensus upgrades, layer execution, Engine API authentication, and releasing public documents are part of the package in the merge. Transition process analysis, Execution-layer sync, Stress tests, and Fee Market behavior changes fall in the Research and Development(R&D) category. As the Ethereum community waits for September 15 the hash rate still has the bigger chunk in deciding if the merge will be launched.

Ethereum (ETH) Outdoes Bitcoin in Options Trading

Research done by Arcane discovered that ETH hit the all-time high for the first time after it surpassed Bitcoin (BTC) in open interest on option trading.

Activity in ETH options has blossomed as Ethereum nears its merge date.

The open interest in #ETH options has reached a new all-time high, overtaking the #BTC options open interest for the first time in history. pic.twitter.com/X7FHoGCiDC

— Arcane Research (@ArcaneResearch) August 17, 2022

According to the research, there was a marginal of $2.8B with ETH options open interest being $8.2 billion while those of Bitcoin was $5.4B. Glassnodealso reported a decline in Bitcoins funding rates and future premium. The crypto king also records a decline in trading activities. On the other hand, ETH is performing pretty well with the funding rate averaging at 0.005%.