Ethereum developers postponed the switch to Proof-of-Stake
The Ethereum blockchain network's switch to the Proof-of-Stake algorithm won't occur this summer but is still expected before the end of this year.
According to Ethereum Foundation developer Tim Beiko, the Ethereum blockchain network will not switch to the Proof-of-Stake (PoS) algorithm in June as previously expected. Still, the transition is likely to take place closer to the fall.
Beiko noted that the Ethereum ecosystem is already "in the final stages" of Proof-of-Work despite the deadline shift. It is not clear what exactly caused such an extension in the deadline. According to Ethereum developers, the timeline for moving the main network to PoS can be voiced only when all existing test networks (Kiln, Goerli, Ropsten) reach a trouble-free level of operation. While to do this, each testing phase must solve all the potential problems that may arise for network participants during interaction.
Recall that currently, Ethereum runs on Proof-of-Work (PoW) consensus, i. e., when miners ensure the operation of the entire network. Switching to PoS will eliminate miners and create a new class of stakeholders. Read about how these consensuses work in our article: Consensus: what it is and how it works.
It won't be June, but likely in the few months after. No firm date yet, but we're definitely in the final chapter of PoW on Ethereum— Tim Beiko | timbeiko.eth 🔥🧱 (@TimBeiko) April 12, 2022
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