Ethereum developers reported successful testnet migration to PoS
The mainnet is scheduled to migrate to Ethereum 2.0 in August 2022
09.06.2022 - 07:35
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What’s new? On June 8, the merger of blockchains on the Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus algorithms in the Ropsten test network was successfully completed in preparation for the release of Ethereum 2.0. This was reported on Twitter by the operator of the Ethermine mining pool, Bitfly. This was a “dress rehearsal” before Ethereum migrates to PoS on the mainnet, which is scheduled for August 2022.
More details about the test. Ethereum developers began migrating the Ropsten test network to PoS on May 30. The planned migration of the mainnet to Ethereum 2.0 in August will replicate this process. The test merger was broadcast on YouTube. Ropsten is one of the oldest PoW testnet. Its operating conditions are the closest to the real ones.
Ethereum 2.0 is a major upgrade to the network, preparations for which began back in December 2020. The upgrade will change the consensus algorithm from PoW to PoS, increasing the speed, efficiency, and scalability of the network. With it, the system will be able to provide an increased level of security and process more transactions. For more details about the upgrade and how ETH miners will be able to earn in the changed conditions, see GetBlock Magazine’s article.
Ethereum co-founder Vitalik Buterin previously said that the blockchain’s merge from the PoW to PoS would take place in August 2022. He also added that if there were risks, the Ethereum 2.0 release could be pushed back to September or October of the same year.
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