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
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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.
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