Ethereum Major Upgrade On June 29th, Here’s What Traders Can Expect
The Ethereum network is planned for an update around block 15,050,000, or around Wednesday, June 29, 2022. Due to the size of the block, this timing is tentative and might occur sooner or later than the said date.
The Gray Glacier network update alters the specifications of the difficulty bomb. This in turn will cause delays by 700,000 blocks or around 100 days.
The difficulty bomb was delayed in five network upgrades: Byzantium, Constantinople, Muir Glacier, London, and the most recent Arrow Glacier network upgrade. Apart from this, Gray Glacier makes no other adjustments.
Tim Beiko, an Ethereum programmer, believes that the Gray Glacier update might be the last postponement to the difficulty bomb.
🧊 Gray Glacier Upgrade Announcement 🧊— Tim Beiko | timbeiko.eth 🐼 (@TimBeiko) June 16, 2022
At block 15,050,000, the Ethereum network will undergo the Gray Glacier fork to push back the difficulty bomb, *hopefully* for the last time ever 😁
If you run a node or validator, make sure to upgrade 🔜!https://t.co/wmPqzQSgL7
As the Ropsten testnet has transitioned to proof of stake, the difficulty bomb only affects the Ethereum mainnet. As an outcome, Gray Glacier may have not been installed on any testnet.
The term “Gray Glacier” was adopted by Ethereum programmer Tim Beiko so it “actually” dissolves into another glacier.
The complexity attack, which has always been a feature of Ethereum, gradually increases the computational complexity of mining the basic currency until it is hard to do so.
Ethereum Difficulty Bomb To Be Delayed?
When the missile explodes, it implies that the days are well before Merge. This move will see Ethereum in proof of stake. Also when the missile explodes, it implies the days well before Merge. This move will see Ethereum in proof of stake.
The Ethereum developers have not formally established a timeline for the Merge Update. Ethereum co-founder Vitalik Buterin has stated that it might come as quickly as August if no serious concerns arise, or as late as September/October.
The move to postpone the difficulty bomb increases the prospect that the much-awaited improvement may take more time than planned.