Blockchain

Ethereum 2.0 First Upgrade of Proof of Stake (PoS) Beacon Chain to play out in A Few Weeks

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).

Read Also: Vitalik Buterin Speaks On Likely Date of The Merge and What Happens After the Two Ethereum Chains Are Merged

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.

Read Also: Vitalik Buterin: London Hard Fork Success Gives Me More Confidence over Upcoming Chains Merge

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.


Follow us on Twitter, Facebook, Telegram, and Download Our Android App

Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

Recent Posts

Price Targets For Memes in 2025: $2 For DOGE, $0.2 For SHIB, But This Hybrid Token Beats Them All

Since the inception of Dogecoin, memecoins have been popular among crypto enthusiasts, and again, they…

1 hour ago

PEPE and Shiba Inu Traders Says RCO Finance is the Best Crypto Presale of 2024, 9,504% Rally Expected

With the crypto market characterized by trends that can rise and fall in the blink…

1 hour ago

XRP/USD Reaches 0.702 Retracement of 2021-2024 Range. Here’s the Significance

In a recent analysis, prominent crypto analyst Blockchain Backer shared a key observation on the…

5 hours ago

If You Missed Polygon, Don’t Miss Qubetics: $500 Could Translate Into $326K with This Best Crypto to Buy Now!

Every crypto investor has that one big regret—the project they heard about early but didn’t…

5 hours ago

Breaking Down the Best: Why Qubetics, Ethereum, and Chainlink Are Leading November’s Crypto Scene

November 2024 is heating up the crypto scene as major players like Ethereum (ETH) battle…

9 hours ago

Pro-crypto Attorney John Deaton Calls $100 Billion XRP Market Cap

XRP, one of the most prominent digital assets in the crypto market, has reached significant…

10 hours ago