Ethereum’s transition to PoS scheduled for September 19-25
The final date will depend on the results of the merger on the Goerli testnet
15.07.2022 - 13:10
547
1 min
0
What’s new? During an online conference, Ethereum developers have tentatively scheduled the blockchain’s transition from the Proof of Work (PoW) consensus algorithm to Proof of Stake (PoS) for September 19-25. The final date will depend on the results of the merger on the Goerli testnet, which is due to take place on August 11.
Video on the Ethereum Foundation YouTube channel
What is known about the transition to PoS? On June 8, the merger of blockchains on the PoW and PoS in the Ropsten test network was successfully completed in preparation for the release of Ethereum 2.0. On July 6, the Sepolia testnet successfully migrated to the new transaction validation algorithm. The developers reported that Ropsten, Rinkeby, and Kiln testnets would be closed after the transition of the mainnet to PoS.
Ethereum 2.0 is a major upgrade to the network, preparations for which began back in December 2020. It 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 on what is happening with Ethereum 2.0 investors, see the GetBlock Magazine editorial’s feature.
Useful material?
Market
Due to supply shortages, the asset’s pre-market exchange rate was climbing above $1000
Dec 16, 2024
Incidents
Reports about the hacking of the exchange with calls to withdraw assets began to spread on December 13
Dec 13, 2024
Crypto regulations
Stablecoins from issuer Circle will not be affected by the changes
Dec 12, 2024
Crypto regulations
The platform will launch after meeting the preconditions of the local exchange authority
Dec 9, 2024
Market
The $1,1 billion figure was reached after the bitcoin correction
Dec 6, 2024
Crypto regulations
By early January, all open positions and loans of local users will be closed and repaid automatically
Dec 5, 2024