Ethereum (ETH) migration to Proof-Of-Stake postponed to third quarter 2022

The union was postponed to June

Ethereum (ETH) users will have to wait a few more months to finally be able to witness the to merge of the network. Simply put, this important step will connect the executive level of Ethereum – the one on which the decentralized applications (dApps) are distributed – with the consensus layer – or the Beacon Chain, based on Proof-Of-Stake (POS).

This update has been postponed several times was to take place in June 2022. Eventually, one of the developers of the Ethereum Foundation, Tim Beiko, announced it on Twitter the Union will be postponed again:

“It won’t be in June, but probably in the next few months. No date set yet, but we are definitely in the final chapter of Ethereum PoW. “

However, the announcement of this postponement does not seem to be unanimous. On a Reddit forum dedicated to Ethereum miners, a mining pool operator claimed to have done so “examine the code and run nodes on the merge testnets”. According to him, the merger cannot take place before 2023:

“We plan to actively devote our developers to testing the merge once it is made public and will do our best to identify bugs to further delay the merge. This will make it safer. “

It would appear that Ethereum’s transition to a Proof-Of-Stake consensus isn’t just a technical matter, but a government issue.

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Proof-Of-Stake and Ethereum miners

Commonly dubbed Ethereum 2.0, although officially titled Consensus Layer, Ethereum’s transition from a Proof-Of-Work (PoW) consensus model to a Proof-Of-Stake model it is one of the most important milestones in the history of the network.

This update is presented as the fundamental change which will put an end to the debates on the energy consumption of the grid and the decentralized applications that are implemented there. In addition, he also scores the end of Ethereum mining as we know it today, a subject that obviously concerns minors.

Also, Tim Beiko’s Twitter comment comes in response to a user who questioned him on the future of Ethereum miners, having supported the project for several years. Although the switch to PoS no longer involves mining, these miners “Will they be left behind? “.

The head of fusion developers simply replied that he strongly discourages it “don’t invest in mining equipment anymore now”.

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Source: Reddit

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About the author: Lilian Aliaga

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Freelance writer located between Paris and Toulouse. I want to share my passion for the world of cryptocurrencies with as many people as possible. I am also interested in technical analysis and trading.
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