Wednesday, December 8, 2021

Altair Activated: Ethereum 2.0 PoS Beacon Chain Upgraded for the First Time Ever

As a report has it, the path to Ethereum 2.0, the much-anticipated upgrade to the Ethereum network, has become clearer with the successful activation of Altair. This implies that Ethereum 2.0 Proof of Stake (PoS) Beacon chain has been upgraded for the first time ever.

The new development was passed across moments ago by Preston Van Loon, a developer on the Ethereum 2.0 client Prysm.

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Preston Van Loon tweeted, “Altair has activated successfully! Finality was uninterrupted and participation dropped as low as 93.3% in the first Altair epoch (exact number to be confirmed). Participation is now above 95%.”

As earlier described by the Ethereum Foundation, the Altair upgrade gives engineering teams something concrete to dig into.

Ethereum Foundation also stated that “Altair is an upgrade to the beacon chain that brings light client support, minor patches to incentives, per-validator inactivity leak accounting, an increase in slashing severity, and cleanups to validator rewards accounting for simplified state management.”

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Regarding the success of Altair activation, Paul Hauner of Lighthouse said:

“All is looking good on our nodes. However, we think about 6% of validators haven’t updated… Someone is producing non-Altair blocks. That’s expected and totally fine. We can tolerate that and I assume they’ll figure it out.”

Penalty Awaits Validators Who Choose Not To Comply with the Upgrade

Talking about the necessity of compliance with the upgrade, Ioana Frincu, CTO of DeFi platform EQIFI said:

“Validators on Eth2.0 who do not cooperate with this change will be penalized… Until now, the network’s PoW consensus was based on the fact that each miner ‘worked’ for their reward. Now, with PoS, miners must figuratively ‘put their mouth where their money is.’ This means that the risk structure changes.

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“Instead of high costs to set up mining operations and mine blocks, you validate transactions and you have to have skin in the game. I welcome this measure and believe that it is a huge change for the better.”


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Solomon Odunayo
Solomon Odunayo is a cryptocurrency journalist with over 3 years of experience in the crypto industry. He's sternly interested in covering developments of emerging and established blockchain projects.

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