Ethereum’s move to proof of play is closer after developers agreed on an initial date for mainnet integration.
Ethereum’s merger will move to proof-of-stake (PoS) blockchain after the main developers announced the first date of the merger on September 15.
This was confirmed by Beiko in a GitHub post titled “Temporary Network TTD” on Thursday.
While the exact date and TTD have yet to change, the success of the various testnet integrations could be a hopeful sign that the Ethereum system will easily transition to the Proof of Stake (PoS) protocol next month.
The new official schedule is at least three days earlier than Ethereum Core developer Tim Baik’s last prediction of September 19.
The long code issued is called the Final Final Difficulty (TTD) and indicates when the Proof of Work (PoW) has been completed and when the stake will be verified. TTD is all the effort needed to mine the last block before going to PoS.
For integration to complete, a Bellatrix fork must be opened by customers who will install the software required to run the interoperability layer. It is scheduled for September 6, 10 days before the merger.
Friday’s Goerli testnet was the last remaining testnet to successfully switch to PoS, following the Seppolia merge on 7 July and the Ropsten merge on 9 June.
After the merger, the electricity consumption of the Ethereum system is expected to be reduced by more than 99.99%. It can withstand network attacks and increase its volume.
To save PoW miners
But there are ethereal sounds
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Depending on revenue, most of which comes from Proof-of-Work block rewards, miners will continue to use Ethereum’s original version of Proof-of-Work to maintain revenue potential.
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Chandler Gou, an ETH miner and cryptocurrency investor who is an outspoken proponent of Proof-of-Work (PoW) chains, accuses miners of hacking the Ethereum network to create Ethereum PoW (ETHW) chains . Gu said he thinks there is enough room for two types of Ethereum in the industry and reiterated several points that support this idea.
To prevent miners from trying to produce more blocks, ETH has promised to release the code needed to run a PoW plug that overcomes the bomb problem, a mechanism that drastically reduces block rewards. Heavy bomb comes before the main set is combined.
Related: Is It Foolish to Expect Ethereum Price Increases Pre- and Post-Merge?
ETHW Poloniex is trading at $72.5, down about 7.5% from the previous day. ETH has risen 1.5% to $1,881.54 in the past 24 hours, according to CoinGecko.
Source: CoinTelegraph
Source: CoinTelegraph
