According to Danny Ryan, the Ethereum 2.0 coordinator, the first upgrade of the proof-of-state (PoS) beacon chain known as Altair is set to play out in a few weeks.
Danny Ryan made this known in a series of tweets on 28th September 2021. Ryan wrote, “Altair is here; the Merge is coming”, stating that the Altair consensus upgrade has been scheduled for epoch 74240 (Oct 27, 2021, 10:56:23am UTC).
The Altair consensus upgrade has been scheduled for epoch 74240 (Oct 27, 2021, 10:56:23am UTC)https://t.co/spvpCzxaKo
Huge shout-out to client teams for their work on this throughout the year 🙌
Client releases coming this week.
Upgrade your nodes *next week*!
— dannyryan 🚂 (@dannyryan) September 28, 2021
Back in March, Ethereum Foundation described Altair as an upgrade that gives engineering teams something concrete to dig into.
Ethereum Foundation noted:
“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.
“In addition to these various features, Altair also represents a ‘warm-up upgrade’ for the beacon chain and beacon chain clients. Ethereum’s proof-of-stake system has run quite smoothly since genesis, but before performing the high-stakes merge, client teams want to go through the process of a live upgrade to further test and ready their codebases and the live system.”
After Alter upgrade, Ethereum 1.0 difficulty bomb removal will follow in December. After this, the full upgrade to proof of stake (PoS) known as The Merge will follow. This is probably happening next year with testnets coming first.
The Merge is one of the most important aspects of the upgrade, in which miners will be completely removed to give way for validators. Due to this development, Ethereum will no longer inflate in supply by 4% a year, making the crypto asset become scarcer.
Thus, Altair is a vital upgrade in preparation for the much-awaited chains merging popularly known as The Merge.