Ether 2.0 [Merge Phase] to be delayed until Q3

Uncategorized 1years go (2022) Dexnav


Ether 2.0 [Merge Phase] to be delayed until Q3


Ether 2.0 [Merge Phase] to be delayed until Q3


Moving from a PoW (Proof of Work) mechanism to a PoS (Proof of Stake) mechanismEtherThe merger has been postponed to the second half of this year, possibly as early as the third quarter.

On April 13, Tim Beiko, a developer at the Ether Foundation, said in response to a follower query that the merged portion of the 2.0 upgrade would not be completed in June, which was expected, "but it could be in the months after, no exact date yet, but we are definitely in the final chapter of Ether PoW."

The "final chapter" means the end of the way the network runs safely by mining, and the network will move into the prelude to the PoS mechanism, the "prelude" has been played.

On April 11, Ether completed the first 'shadow fork' of the network, launching a merger test network for the transition from PoW to PoS. As explained by another Foundation developer, the 'shadow fork' of the merger test network was designed to allow the developer community to practice running their nodes, deploying contracts, testing infrastructure, etc., to help them understand the merged Etherworld.

Ether 2.0There are still many small and large tests before the official launch, and this network, which carries a variety of blockchain application paradigms, will achieve the merger of the "consensus layer" in the second half of 2022, when the mining era of Ethernet will officially come to an end.

The total number of pledges in the chain of beacons exceeded 11,393,000ETH

"Ether Merge" (Ethereum Merge) is the common name for Ether's transition from the PoW mechanism to the PoS mechanism, and is an important part of the Ether 2.0 upgrade. The merger was previously widely predicted to be completed by June this year, until Tim Beiko, a developer at the Ether Foundation, came forward to clarify.

On April 13, Tim Berko tweeted that the merger will not happen in June, but it could be a few months later, the exact date is unknown. According to him, the earliest time for the merger to materialize would have to be the third quarter of this year.

In order to dispel some misunderstandings, the Ethernet Foundation had announced in January this year that the term "Ethernet 2.0" would be phased out and replaced by the term "consensus layer", thus explaining that 2.0 is not a completely new network, but a major upgrade.

The shift from PoW to PoS is essentially a change in the consensus mechanism, and the concept of 'consensus layer' is accompanied by the concept of 'execution layer', two concepts that help people better understand the term 'merge'. Currently, all smart contracts and network rules run on Ether's 'execution layer', while the 'consensus layer' is responsible for ensuring that all devices contributing to the network behave according to the rules, and punishing non-compliant devices. When the 'consensus layer' is ready to replace the current mining system, the two layers will be merged and will help drive Ethernet to a 2.0 upgrade.

As of now, the merger is postponed to the second half of this year, but an irreversible fact is that Ether will completely end the way of relying on mining machines to mine (PoW mechanism) to keep the network running in 2022, and miners will be replaced by nodes that pledge ETH to obtain network verification rights (PoS mechanism).

The Ethernet beacon chain (a network that scans and verifies network transaction data), which went live in November 2020, is officially open to pledging by willing nodes, which is known as ETH 2.0 pledging. the price of ETH has never stopped fluctuating up and down in the past year or so, but the ETH pledged on the beacon chain has always kept growing along the way.

Ether 2.0 [Merge Phase] to be delayed until Q3

Total ETH 2.0 pledges all the way up

Eurotech Cloud ChainThe data shows that as of April 12, the total number of pledges for ETH 2.0 reached 11393074 ETH, the total number of pledged addresses was 360938, and the total number of verifiers (the number of clients acting as actual verifiers on the beacon chain) was 355142.

From the data, the number of verifiers supporting Ether 2.0 is becoming more and more, and this network will definitely enter the more scalable PoS mechanism, and the PoW mining method will be eliminated. Previously, Tim Berko also prompted users to stop investing in any Ether mining equipment to the public.

"Shadow Fork" Prepares for Consensus Mechanism Transition

As Tim Berko compared, the current stage of Ether is already the "final chapter" of the PoW era, and in fact the "prelude" to the PoS era of this blockchain network.

In order to allow developers safe and adaptable access to the PoS version of Ether, the network completed a "Shadow Fork" on April 11. According to the official explanation of the Ethernet Foundation, a shadow fork is when a small number of nodes are configured to fork from the Ethernet network at a point where valid transaction information on the main chain can be mapped to the forked chain, thus simulating the throughput of the original network.

The forked chain can also be understood as a merger test network for Ether, which can be used by developers to stress test assumptions such as block build times. Parithosh Jayanthi, a developer at the Ether Foundation, explained that the purpose of the merge test network is to allow the community to practice running their nodes, deploying contracts, testing infrastructure, etc. "We hope it will help the community understand the post-merge world.

The shadow fork maintains connectivity with nodes on the standard Ethernet chain, which means some transactions will appear on both chains. According to the data from the test network browser, as of April 14, i.e. less than three days, the shadow fork network has processed more than 9.869 million transactions, with more than 3.125 million wallet addresses and a total of more than 14.579 million blocks out, with an average block out time of 13.5 seconds.

Ether 2.0 [Merge Phase] to be delayed until Q3

Basic data of the shadow fork chain

Parithosh Jayanthi said after the fork was completed that there were node clients who noticed some problems after the fork, and according to the reports, the problems were less severe.

The success of the "shadow fork" has been called a "historical event" by the developers of the Ether Foundation, and the ability of the fork chain to operate safely and stably and to take on stress tests is directly related to future upgrades. Tim Berko said that the success of the shadow fork is the key to determine the actual date of the Ether merger.

Prior to the 'shadow fork', several other testing activities for the Ether 2.0 upgrade were successfully completed. For example, the Klin test network merger went well in mid-March, which merged the Ethernet execution layer under the PoW mechanism with the beacon chain. the Klin test network was also the final test network for Ether 2.0 before the actual merger.

With a market capitalization of $37.58 billion as of April 14, the blockchain network that carries the value of the world's second largest crypto asset, ETH, is already too rich than when it was first created and has become the dominant underlying network for DApps (decentralized applications), which support application scenarios including decentralized finance (DeFi), metaverse, NFT and GameFi, and over 500,000 ERC-20 standard crypto tokens.

The huge volume of applications is demanding more and more performance and scalability of the underlying network, which is an important reason for the transition of Ether to PoS mechanism. No matter how much miners stay with the current Ether, this network will eventually fall off the curtain of PoW in an irreversible way, and the fall will be no later than 2022.


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Copyrights:Dexnav Posted on April 14, 2022 at 10:43 am.
Please specify source if reproducedEther 2.0 [Merger Phase] Delayed to Q3 | Dexnav Blockchain Navigator

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