Ethereum developers have announced the timing of the transition to the Proof-of-Stake algorithm.
May 20, 2022
0
Ethereum’s planned transition to the Proof-of-Stake (PoS) consensus algorithm will take place in August. This was announced by one of the leading developers Preston Van Loon at the
Ethereum’s planned transition to the Proof-of-Stake (PoS) consensus algorithm will take place in August. This was announced by one of the leading developers Preston Van Loon at the Permissionless conference.
— Benjamin Cohen (benjicohen.eth) (@benjicohen421) 19 May 2022
According to him, the team is waiting to complete the process called “merging”. [The Merge]explained in detail before activating the “complexity bomb”.
“As far as we know, if all goes according to plan, August – makes sense. If we don’t want to carry the complexity bomb, let’s do it as soon as possible,” said Van Loon, answering a question from David Hoffman, founder of the Bankless media project.
The automatic increase in block generation time on the Ethereum blockchain has already been delayed several times. Now the “difficulty bomb” should be activated in August. The software solution is designed to encourage the transition to PoS and makes it less profitable for miners to work on the Proof-of-Work network.
Fellow developer Justin Drake confirmed that the team’s priority is to run The Merge before increasing the mining difficulty.
Ethereum co-founder Vitalik Buterin described August as the most likely time for transition during the Eth Shanghai virtual summit. However, he allowed the event to be postponed to September-October in case of “potential risks”.
Buterin noted that in early June, developers will migrate the Ropsten testnet to PoS, and if successful, it will be possible to perform the merger on the mainnet.
Recall that in April, the Ethereum team performed a “shadow hard fork” on the mainnet to stress test the transition to PoS.
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.