The leading altcoin Ethereum (ETH), the second largest cryptocurrency by total market capitalization, will transition from Proof-of-Work to Proof-of-Stake. Time is running out for the process, also known as ETH 2.0, and new updates are announced.
A lot of hard forks and improvements have been made recently. Although EIP-1559 is definitely the most interesting of these, Ethereum continues to receive new updates every period. Every update in the market gives positive momentum to the token price.
The latest update of Ethereum will be called Arrow Glacier. A few months ago, Ethereum developers had requested validators and developers on the network to update their network nodes.
The biggest feature of the new update in question is that it will delay Ethereum's update called "difficulty bomb". The difficulty bomb is shown as the step that will finish mining on the network when Etheruem 2.0 is fully activated.
Arrow Glacier will only affect one thing and it won't be that big of an update. Arrow Glacier's sole purpose is to prevent this difficulty bomb from working before the transition to ETH 2.0. The bomb in question was added as a code in 2015 and has been delayed ever since.
Famous developer Tim Beiko has already shared about it, and it is expected to be activated in the coming weeks.
"I just published another #AllCoreDevs update, covering Arrow Glacier 🏹🧊, Kintsugi 🍵 and the recently proposed EIP-4488 📜
Strongly recommend for folks wanting to get up to speed on the tradeoffs related to the EIP, as things may move quickly!"
Tim Beiko included the following details;
As mentioned in the last update, the Arrow Glacier upgrade is scheduled for block 13,773,000, which is expected on December 8, 2021. If you run an Ethereum node, you should upgrade it now. The list of client versions which support the upgrade is as follows:
EthereumJS VM 5.6.0
For a complete overview of the upgrade, see the full announcement. Hopefully, this is the last time the difficulty bomb is delayed before Ethereum's transition to proof of stake