Difficulty Bomb Postponed by Ethereum Developers as ETH 2.0 Contract Passes 13 Million Deposits

July 9, 2022


Difficulty Bomb Postponed by Ethereum Developers as ETH 2.0 Contract Passes 13 Million Deposits

On June 30, Ethereum developers dropped the network hardship bomb with the Gray Glacier update, meaning the merger won’t happen until September 2022. Meanwhile, more than 13 million Ethereums are locked into the Beacon network, worth $ 15.8 billion. Price. A total of more than 13 million ETHs were deposited into the ETH 2.0 contract this week and there are now 406,640 observers. The Ethereum blockchain (ETH) is expected to evolve into a chain of evidence of interest (PoS) over time.

This chain currently has a hybrid system of both Proof-of-Work (PoW) for the main chain and PoS for the beacon chain. At the time of writing, the 13,012,469 ethers locked into the ETH 2.0 contract are worth more than $ 15.8 billion at ETH’s current exchange rate. According to Doon Analytics, 13 million ETHs come from 76,506 addresses of contributors and represent 10.88% of the total ETH volume. 31.73% of the shares were distributed through Lido’s liquidity program. In addition to Lido, other major stack services include companies such as Kraken, Stake.us, Stakefish, BitcoinSuisse and Figment. While many thought the move to PoS, known as The Merge, would take place in August, a botched update pushed The Merge forward. On June 30, the height of the Ethereum network block was upgraded to Gray Glacier at 15,050,000, dropping the 100-day hard bomb. On June 16, 2022, Ethereum developer Tim Biko said, “The upgrade of the Gray Glacier network is changing the parameters of Ice Age / Hardness Bomb, restoring it by 700,000 blocks or about 100 days.”

He added: “Although Ropsten has now moved to a demonstration of interest, the hard bomb only affects Ethereum’s main network. This means that Gray Glacier will not be used in any test network.” In addition to latency, Ethereum’s online fees are low, with an average net fee of 0.0018 ETH or $ 2.16 per transaction at the time of writing. Today, Ethereum’s average online fee is 0.00078 ETH or $ 0.955 USD per data transfer. In addition, from August 5, 2021 or EIP 1559, around 2523 831 ETH was destroyed with $ 8.4 billion.In fact, a bomb is the problem of “increasing the planned speed in anti -Rhrasor -complex system developed to reduce the probability of fork and promote evidence.” Sources of EIP 5133 are that the motivation in the background “prevents the net destroying a bomb”.


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