Ethereum 2.0 is getting closer and closer as developers set the Altair upgrade date to October 27th

The upgrade to the long-planned scalable PoS consensus model (Proof of Stake) of the Ethereum network is getting closer as the developers set a date for the Altair upgrade.

Altair, described as the first mainnet upgrade to Beacon Chain, expected takes place in epoch 74240, around October 27th, according to Ethereum Foundation researcher Danny Ryan.

“This upgrade provides slight client support for the core consensus, cleans up beacon state incentive audits, fixes some issues with validator incentives, and updates sanction parameters according to EIP-2982.”

EIP-2982 introduces “penalty parameters” to ensure that the PoS protocol is economically secure. “Inactivity leak” and “severe cut” are two proposed penalties in EIP-2982.

Ethereum’s London hard fork arrived almost on schedule on August 5th, kicking off the highly anticipated proposal for EIP 1559. Proponents have hailed EIP-1559 as a deflationary switch for burning up base fees and thereby reducing the circulating supply of ETH.

Joseph Lubin, co-founder of Ethereum before joining ConsenSys, says London is getting ETH on the path to becoming “ultrasound money”. The concept of “Soundmoney” or “Super Currency” was popularized by the Bitcoin community and refers to an asset that is not susceptible to sudden loss of value or purchasing power.

ETH price collapsed on Tuesday and sold alongside other risky assets, including stocks. ETH is trading at $ 2,840 after falling 3.5% that day.

Ethereum 20 is getting closer and closer as developers set

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According to Cointelegraph

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