Ethereum migration to Proof-Of-Stake pushed back to the third quarter of 2022
The transition of the Ethereum Financial Network (ETH) to the Proof-of-Stake (PoS) mechanism has been postponed again. The mechanism is currently expected to be involved in the third quarter of 2022.
Back up of the transition to the 3rd quarter of 2022
The merger of Ethereum (ETH) and Proof-of-Stake (PoS) has been postponed again for several months. According to preliminary data, the transition to the use of the new mechanism was to take place in June 2022. However, on Twitter, one of the founders of Ethereum, Tim Baiko, announced another postponement of the merger: “It will not be in June, but probably in the next few months. The date has not yet been set, but we are definitely in the last chapter of Ethereum PoW. »
Despite the announcement of one of the developers of the fund, the decision to postpone is not unequivocal. Thus, the operator of the mining pool said that they “reviewed the code and launched nodes in the test networks of the merger.” He also announced at the Reddit forum dedicated to Ethereum miners that the merger could not take place before 2023. “We plan to actively dedicate our developers to testing the merger as soon as it becomes public, and do everything possible to identify errors to further delay the merger. This will make it safer”, said the mining pool operator.
It is worth noting that this merger is very important for the Ethereum (ETH) network. This will allow the system to combine the executive level, which houses decentralized programs (dApps), and the consensus level, which is responsible for a chain of beacons based on Proof-of-Stake (PoS) technology. However, it is becoming increasingly clear that this decision depends not only on the technical component but also on management.
Technology Change and Ethereum (ETH)
In general, the event that Ethereum (ETH) abandoned Proof-of-Work (PoW) and switched to Proof-of-Stake (PoS) technology is perhaps the most important in the history of the network. On the one hand, this step will allow the financial system and related decentralized applications (dApps) to switch to a less energy-intensive mechanism. However, on the other hand, it also means the cessation of the coin mining process, i.e. the abandonment of mining.
In particular, users began to ask network representatives about the prospects for Ethereum miners. In particular, one of the most asked questions was whether the miners of the system will be “abandoned?”. Although it is obvious that the transition to PoS technology does not involve the use of mining. Instead, the head of the transition developers said that he currently advises users “not to invest in mining equipment now.”
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