Ethereum is a smart contract platform that enables developers to build tokens and decentralized applications (dapps). ETH is the native currency for the Ethereum platform and also works as the transaction fees to miners on the Ethereum network. Ethereum is the pioneer for blockchain based smart contracts.
The long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. awaited update The Merge could finally arrive in August, according to Buterin, although he did not deny that it could be extended by a couple of months.
The Mergethe long-awaited update of Ethereum a decentralized open-source blockchain with smart contracts functionality. could finally see the light of day in August, according to the recent words of both co-founder and best-known image, Vitalik Buterin, and Preston Van Loon, a senior developer at Ethereum enPrysmatic Labs.
It has already been said yesterday that the public testnet an alternative blockchain used by developers for testing. (testnet) of the Ethereum, Ropsten , will be submitted on June 8 to the long awaited updateThe Merge. The move will be the step prior to the upgrade on the main network. Ethereum that will lead to the blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. abandoning its current consensus consensus is achieved when all participants of the network agree on the order and content of the blocks in the blockchain. mechanism of Proof of Work (PoW) by one of proof of participation (PoS).
- Don’t you know a lot aboutThe Merge? You can learn more about what the upgrade entails here .
Arrives in August
Thus, arguably the most anticipated event in the 7-year history of Ethereum could happen in the next few months, said the project’s co-founder Vitalik Buterin, as well as a couple of core developers at ETH . This should happen before the “pump of dificultad ” ralentice la red.
Speaking on a panel during the conference Permissionless, developer Preston Van Loon, pointed out thatThe Merge could happen sometime in August:
“As far as we know, if everything goes as planned, August makes sense. If we don’t have to move (the hardship bomb), let’s do it as soon as we can.”
Investor Benjamin Cohen, who was present at the conference, wrote at Twitter:
“Ethereum core Dev @preston_vanloop just said that the eth merger is ready, now they are just testing and expect the merger to happen in August. The room full of @Permissionless she’s excited. Great question @TrustlessState . Also in panel @drakefjustin”.
Ethereum core Dev @preston_vanloon just said the eth merge is ready,they are now only testing, and expects the merge to happen in August. Packed room @Permissionless are excited about it. Great question @TrustlessState . Also on panel @drakefjustin pic.twitter.com/vX4beNatJ5
— Benjamin Cohen (benjicohen.eth) (@benjicohen421) May 19, 2022
And he shared the moment of his intervention.
August, September, October?
Vitalik Buterin also reiterated this position during the Cumbre ETH Shanghai, but it also gave more room for possible mishaps, diciendo que The Merge could be in September or October.
At the Ethereum Shanghai Summit, Vitalik said that the Ethereum (POW to POS) merger is likely to happen in the summer of August. If there are some potential risks, it is also possible in September or October.
At the Eth Shanghai Summit, Vitalik said that the Ethereum merge (POW to POS) is likely to happen in the summer in August, If there are some potential risks, September or October is also possible. Live：https://t.co/WSl2IpAyJW
— Wu Blockchain (@WuBlockchain) May 20, 2022
The hardship pump is an intentional process embedded in the code the action of coding is to write programming statements for a program. of Ethereum which will eventually slow down the network. The development team incorporated it for two main reasons: to encourage developers to push the proof-of-participation transition and to make it harder for miners contributors to a blockchain taking part in the process of mining. They can be professional miners or organizations with large-scale operations, or hobbyists who set up mining rigs at home or in the office. to stay in the proof-of-work poW is a type of consensus algorithm that rewards validators according to the amount of computational power they have expended. chain after the event, he says. Cryptopotato.
Although the hardship pump has been postponed several times in the past to ensure that the network a network refers to all nodes in the operation of a blockchain at any given moment in time. continues to function properly, the team wants to avoid another delay this time around and complete The Merge before the blockchain slows down.
Previously, another developer, Tim Beiko, said that The Merge will not happen in June as expected, but it will most likely happen a few months later.
Also ETH researcher Justin Drake made a prediction similar to Van Loon’s, saying that he had a “strong desire to make this happen before the difficulty a measure of how hard it is to validate a new block on a blockchain. explodes in August.”
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