Ice Age Delay – Ethereum Network Participants Prepare For Upcoming Arrow Glacier Upgrade – Technology Bitcoin News

The Ethereum network is about to undergo a planned upgrade called Arrow Glacier, a change that aims to mimic the Muir Glacier upgrade. Essentially, Ethereum’s Arrow Glacier changes the parameters of delaying the network’s Difficulty Bomb to June 2022. This gives the Ethereum network an additional six months before it leads to the “Ice Age” proof-of-stake (PoS) transition .

Arrow Glacier aims to postpone the Ethereum Ice Age

At the Ethereum block height of 13,773,000, the network will implement the Arrow Glacier upgrade, which aims to move the Ethereum difficulty bomb. The bombing mechanism has been around since 2015 and it makes the network’s mining difficulty increase over time. The end result will lead to the Ice Age, a moment when the blockchain stops producing proof-of-work (PoW) blocks and the chain relies 100% on the proof-of-stake (PoS) consensus.

The difficulty bomb was supposed to pass 4,000,000 blocks, or 611 days after upgrading the Muir Glacier Network. Arrow Glacier will continue to push the bomb back until June 2022, however. This gives the Ethereum PoW miners an additional six months to continue mining the Ethereum blockchain until the move in June 2022. Once the Difficulty Bomb happens, the mining difficulty will cause PoW miners to phase out because it becomes too difficult.

Arrow Glacier is expected to take place through Wednesday, December 8, 2021. “Similar to the Muir Glacier, the network upgrade of Arrow Glacier changes the parameters of the ice age / difficulty bomb and postpones them by several months,” explain the Ethereum developers. “This was also done with the network upgrades of Byzantium, Constantinople and London. No further changes will be introduced as part of Arrow Glacier. ”The announcement adds:

The Difficulty Bomb only affects proof-of-work networks and therefore only exists in the Ethereum mainnet and in the Ropsten test network. Given the recent progress in the transition from Ethereum to proof-of-stake, it was decided to just delay the mainnet bomb for now and try to make the proof-of-stake transition on Ropsten before the bomb goes off on that network.

Ethereum hashrate hits all-time high, ether is the second most profitable coin to be mined in 2021

While the Ethereum network participants have long waited for the Ice Age PoS transition, Ethereum miners enjoy the PoW incentives. In the early hours of December 7th, the hashrate of Ethereum reached 1 petahash per second (PH / s). The metric recorded is the highest the hashrate has ever had, and Ethereum’s computing power is currently rolling in at 900 terahash per second (TH / s).

In addition, Ethereum (ETH) mining is currently the second most profitable cryptocurrency mined today, alongside Kadena (KDA) mining. At $ 0.12 per kilowatt hour (kWh) and at today’s ether exchange rates, a machine running at 1,500 megahashes per second (MH / s) can earn around $ 91 per day. Mining Ethereum with the most profitable ether mining rig is 68.85% more profitable than mining Bitcoin (BTC) with currently the most powerful SHA256 bitcoin miner making a whiff of over $ 28 per day in profits.

Tags in this story

1 PH / s, 900 TH / s, Arrow Glacier, Difficulty Bomb, ETH Mining, Ether, Ether Mining, Ethereum, Ethereum (ETH), Hashrate, Ice Age, Mining, Mining Eth, Muir Glacier, Muir Upgrade, Network Upgrade, PoS, PoS transition, PoW, proof of work, proof-of-stake, transition, upgrade

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Ice Age Delay - Ethereum Network Participants Prepare For Upcoming Arrow Glacier Upgrade - Technology Bitcoin News

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