Ethereum Draws Closer to PoS Migration With EIP-3675 Launching on GitHub

2021-7-23 18:10

Ethereum developers are moving forward with plans to transition the blockchain to a proof-of-stake network. The developers announced the formal approval of its Ethereum Improvement Proposal (EIP) 3675.

Request For EIP-3675 Made On Github

Mikhail Kalinin, a researcher at Ethereum software firm, ConsenSys created a pull request for EIP-3675 on Github on July 22.

The EIP-3675 is the proposal that formalizes the chain merge to Ethereum 2.0.

This sets the stage for what developers have termed as “The Merge” to Ethereum 2.0. EIP is slated for discussion during the July 23 Ethereum Core Devs Meeting, according to the Ethereum Foundation developer coordinating the upgrades, Tim Beiko.

Beiko had announced the merge in a tweet while commending Kalinin. “Hard to overstate how valuable @mkalinin2's work on The Merge has been, and it's finally being formalized in an EIP,” Beiko said.

The current Ethereum mainnet will eventually merge with the Beacon Chain, marking the end of the proof-of-work system for Ethereum. The Beacon Chain is the backbone of the new Ethereum blockchain, and it was launched in December 2020.

Unlike the proof-of-work system that relies on miners to compete to validate transactions, the proof-of-stake system allows users to validate transactions and create new blocks depending on how much ETH they contribute.

When merged, the new Ethereum mainnet will enable developers to run smart contracts on the proof-of-stake system. It will also import the complete history and the current state of Ethereum to ensure that the transition is smooth for all ETH holders and users.

Staking On Ethereum 2.0 Skyrockets

Since the launch of the Beacon Chain, Ethereum 2.0 is the second-largest PoS network by staked capitalization. According to data from Etherscan, roughly $13 billion worth of Ether has been staked despite having less than 6% of its circulating supply in deposits.

Meanwhile, Ethereum developers are proceeding with a slew of upgrades on the network. Next up on the list of upgrades coming to the present proof-of-work network are the London and Altair upgrades.

The London upgrade, Ethereum's 11th hard fork, is scheduled to launch around August this year. It would feature the long-awaited controversial EIP-1559, which will reduce the supply of ETH through burning and make ETH miners redundant.

However, the Altair upgrade, slated for sometime before October, will make minor tweaks to the dynamics of the Ethereum 2.0 network. The Altair upgrade would also penalize bad actors by slashing their ETH by half.

Ethereum/USD ETHUSD 2,010.1727 -$16.08 -0.80% Volume 15.15 b Change -$16.08 Open$2,010.1727 Circulating 116.81 m Market Cap 234.81 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=ETH&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~ETH~USD"); The post Ethereum Draws Closer to PoS Migration With EIP-3675 Launching on GitHub first appeared on BitcoinExchangeGuide.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3326.86 (-0.24%)
Объем 24H $45.227b
Изменеия 24h: 6.94 %, 7d: 5.31 %
Cегодня L: $3039.69 - H: $3364.01
Капитализация $400.646b Rank 2
Цена в час новости $ 2006.45 (65.81%)

ethereum developers formal blockchain announced proof-of-stake network

Источник: bitcoinexchangeguide.com

ethereum developers → Результатов: 126


Ethereum: How Early Devs Got Rewarded With 12 Million ETH?

It is no secret that early Ethereum (ETH) ICO buyers later became whales and potential multi-millionaires. But the project also seemed extremely generous to its developers. Ethereum Devs Got Paid for Short-Term Involvement Ethereum, which went through multiple phases of pre-mining, actual mining, and as much as eight hard forks, has always been accompanied by the guidance of Vitalik Buterin and a small, fluctuating team of developers.

2019-12-28 15:10


Ethereum (ETH) Core Developers Propose an ASIC Resistant Upgrade

The Ethereum (ETH) Core Developers had a meeting on the 4th of January that discussed several developments on the network such as the upcoming Constantinople and Istanbul hard forks. Another EIP (Ethereum Improvement Proposal) that was discussed, was one meant to update the current hashing algorithm to reduce the incentive to mine Ethereum using ASICs […] The post Ethereum (ETH) Core Developers Propose an ASIC Resistant Upgrade appeared first on Ethereum World News.

2019-1-8 16:15


Ethereum Developers to Postpone Constantinople Hard Fork until January 2019

Ethereum core developers made it known in the last bi-weekly meeting on Friday, October 19, 2018, that Ethereum’s next system-wide upgrade Constantinople, will be postponed until 2019. It had been initially primed for release in November 2018 but the discovery of several bugs in the code released on Ethereum’s public testnet Ropsten, made developers opt […] The post Ethereum Developers to Postpone Constantinople Hard Fork until January 2019 appeared first on Coinjournal.

2018-10-23 15:11


Фото:

Breeze Wallet with Breeze Privacy Protocol Mainnet Now Available for Download

The Breeze Wallet with the Breeze Privacy Protocol public mainnet has been released and is now open to the public. The wallet showcases Stratis technology — a platform built for visual basic apps and blockchain solutions — and places heavy emphasis on both privacy and security for businesses seeking to implement business-to-business (B2B) transactions on the Stratis and Bitcoin blockchain networks.

2018-8-4 00:02


RatingToken Discovers 12,000 Identical Smart Contracts Deployed by One Ethereum Address

The Ethereum ecosystem has attracted many developers and companies over the years. Its native smart contracts have proven to be of great value in unlocking new and interesting use cases. For some reason, there has been a rather steep surge in Ethereum smart contract production over the past few days. Some of this activity seems […]

2018-7-26 20:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Цена Ethereum пробила уровень $2800

Вторая по капитализации криптовалюта за последние сутки подорожала на 9,6%. Цена актива пробила уровень $2800, поднявшись к значениям начала августа. На графике ниже видно, что восходящее движение поддерживалось всплеском объемов торгов: Четырехчасовой график ETH/USDT биржи Binance.

Объем торгов спотовыми Ethereum-ETF превысил $500 млн

Общий объем торгов спотовыми ETF на базе второй по капитализации криптовалюты преодолел рубеж в $500 млн спустя несколько часов после дебюта нового инструмента на регулируемых американских биржах.

Bitwise внесла изменения в форму S-1 для спотового Ethereum-ETF

Управляющий активами Bitwise подал обновленную форму S-1 для спотового биржевого фонда на базе Ethereum за несколько дней до крайнего срока 8 июля. Источники The Block сообщили, что SEC не назвала точное время рассмотрения документов, но компании могут получить одобрение к концу следующей недели.