On Friday, Ethereum's core developers met and decided to delay the processing of the "difficulty bomb" – a key factor in ethereum's push for "The Merge" – which will move from work proof consensus to proof of stake.
two months Difficulty bomb was included in Ethereum's code in 2015 as a measure with the purpose of validating the acceptance of consolidation. At the beginning of last week, the dub implementation was conducted consolidated on the Ropsten testnet.
After consolidating the Testnet and discussing errors during testing, the EIP-5133 proposal delays the "difficulty bomb" until August 2022. The "difficulty bomb" has been delayed five times.
Ethereum founder Vitalik Buterin and core developer Preston Van Loon both said in August — "if everything goes according to plan." However, Ethereum developers have not yet committed to a firm date for ethereum consolidation.
What is a difficulty bomb?
Ethereum is considered the smartest contract platform. Ethereum will make blockchain more efficient by moving from a Proof-of-work (PoW) consensus model to a proof-of-stock (PoS) consensus model.
Ethereum is now backed by validators (or miners), who use remote computers to solve complex problems aimed at recording and verifying transactions — just like on the Bitcoin blockchain. According to "The Merge", those who confirm will place coins to confirm the transaction, besides there are issues worth having some confirmers may refuse proof of stake.
To prevent that situation, difficult bombs increase the difficulty of the block exponentially over time. It will be forced to terminate Proof of Work on Ethereum if for a long period of time the real sequences cannot exploit new transaction fish due to the almost limitless difficulty of the block.
On the other hand, it could stop the Ethereum network before The Merge "is completed, resulting in pathetic financial consequences" if the difficult bomb is done at the wrong time.
Ethereum Price Action
Over the past few days, Ethereum (ETH) has fallen by double digits, falling 19% in the past seven days due to a combination of macroeconomic factors (technology stocks also fell; CPI showed that Inflation rose more than expected. That suggests that the consolidation of testnet Ropsten earlier this week clearly didn't help.
ETH is now down as much as 69% from the ATH level of $4,891.70 in November 2021.
—
Telegram: https://t.me/+XqnDmxy-bz0wMTE1
Group: https://www.facebook.com/groups/655607162536305
Fanpage: https://www.facebook.com/WikiBinancecom
Twitter: https://twitter.com/wikibinancevn
