The creators of Ethereum have decided to delay the so-called difficulty bomb


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Ethereum. Source: unplash.com/@executium

The difficulty bomb to discourage Ethereum miners from mining Ether (ETH) will be delayed. In this framework, the difficulty in the network of the second largest cryptocurrency would increase significantly, which would lead to a decrease in the profitability of such a process. According to the reports of the main programmer of this project – Tim Beiko, it will be postponed for about 2 months. This, in turn, could lead to a delay in the long-awaited update called The Merge.

  • Dropping the so-called hard bomb to discourage miners from continuing to mine ETH will be delayed by around 2 months
  • The change in plans will likely result in the postponement of the update called The Merge, which was expected in August.
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The Ethereum Difficulty Bomb Late

One of the main ETH developers, Tim Beiko, announced in a series of tweets the steps that have been taken to update The Merge. He announced that everything had to be checked carefully before full implementation, which is why the people behind Ethereum decided to delay the so-called bomb difficulties.

According to insurance, the postponement of this deadline should not be long, it will take about 2 months. Tim Beiko argued that this would improve the situation for Ether users.

Bomb of Difficulty is a measure designed to discourage Ethereum miners from continuing to do their work as their network transitions from proof-of-work (PoW) to proof-of-stake (PoS). As a result, the difficulty of mining ETH will increase significantly. The reduction in profitability will lead to the fact that, therefore, such people will have to capitulate.

Delay on the way to the update?

Although Tim Beiko did not mention it, the postponement of the Ethereum network difficulty bomb could cause further delays for The Merge. Some time ago, the top ETH programmers announced that a consensus shift could finally take place in August of this year. However, it should be noted that no specific date has yet been set.

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A few days ago, we reported that the oldest Ethereum testnet, Ropsten, had successfully merged with the Beacon Chain. It was the first dress rehearsal for the long-awaited merger. As a result, the aforementioned testnet has successfully integrated its Proof of Work (PoW) execution layer with Proof of Stake (PoS).

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ETH rate above 70% minus ATH

Ether is currently trading in the 1.2 thousand zone. hole. for a coin. The cryptocurrency was last at such low price levels in January 2021. In November last year, it set a record high on its chart of 4.8 thousand. hole. Since then, it has dropped 74%.

Within the 24-hour range, the ETH exchange rate fell by more than 15%. Weekly losses exceed 35%. The Relative Strength Index (RSI) for Ethereum indicated that this project was in an oversold zone.

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