The date that will define the future of Ethereum is approaching

tim beiko says ethereum is in the final chapter of PoW

At the end of April, more precisely on Friday 29, there will be a dev call or “developers call” in which the steps to follow for the transition of Ethereum to version 2.0 will be defined. Meanwhile, tests continue to detect possible flaws in the new blockchain.

The so-called transition to Ethereum 2.0, called The Merge or “the merger”, is planned for sometime in 2022after having already been postponed several times, as CriptoNoticias has reported.

However, in recent days, versions have begun to emerge about a new “postponement” of the update. This happened as a result of a Tim Beiko’s tweet, developer of the network, who stated that the difficulty bomb will be ready after June. This bomb is what will put an end to mining or proof of work (PoW) in Ethereum, by gradually raising the complexity of mining new transactions to an unattainable level.

However, Evan Van Ness, a renowned promoter and enthusiast of this network, cleared up that the merger is not delayed. What happens, he says, is that the merger is projected to happen shortly before the difficulty bomb. This, as Beiko stated, was planned for June, but will be executed a little later.

tim beiko says ethereum is in the final chapter of PoW
“We are in the final chapter of Ethereum mining,” Tim Beiko said. Source: Tim Beiko/

What will be decided in the next dev call on April 29 is which fork the testnets will have. In addition, there will also be a major developer event in Amsterdam, the devconnectwhere these topics will be played, among many others.

See also  Ethereum hard fork could hurt the original network

According to Van Ness’s opinion, April 29 is likely to be set as a date to fork the testnets to move to the next phases of the merger. According to this divulger, “the merger will definitely take place in the coming months, unless something unexpected happens.”

As it is, the plans for the merger are still on. Ethereum’s first definitive step towards Ethereum 2.0 would take place sometime this year, as advertised.

It should be noted that this merger is not executed automatically, as has happened with other updates that are activated from a certain time of the network. Instead, The Merge must be activated manually as if it were a red button on a briefcase as you often see in movies.

“It is no longer advisable to invest in Ethereum mining”

In addition to sharing a lot of information about the merger and the ongoing testing process, Tim Beiko left On twitter blunt advice. Asked about Ethereum mining, the Canadian developer said: “I strongly advise against continuing to invest in Ethereum mining equipment.”

tim beiko says ethereum is in the final chapter of PoW
“We are in the final chapter of Ethereum mining,” Tim Beiko said. Source: Tim Beiko/

In that same thread, when questioned by a user of the social network, Beiko maintained that “there is still no firm date, but we are definitely in the final chapter of PoW in Ethereum.”

The test networks and their results

In order to test the new methodology of Ethereum 2.0, which will use proof of participation (PoS) by validators for the confirmation of new blocks, various test networks have been developed. Kintsugi, Kiln and the shadow fork (“shadow fork”) of the main network are the most recent.

The latter was “a huge success,” according to developer Marius van der Wijden. what happened in the shadow fork it was a test merger between the miners’ nodes, which work with proof of work, and the Beacon Chain, the original chain of Ethereum 2.0, which works with proof of stake. The successful results of this test and Kiln are the basis for optimism for the arrival of Ethereum 2.0 soon, according to the developers.

Leave a Comment

Your email address will not be published.