Ethereum just got another upgrade and you need to know that
Ethereum has another upgrade called Arrow Glacier that could delay the “difficulty bomb” until version 2 is released, so let’s find out more about it in today’s Ethereum news. .
Ethereum had another upgrade while the last, called Altair, was in October, and the developers have asked users to recently upgrade their nodes as devices running the software store network software and an immutable transaction book. Now it’s them again, and this time to delay the full impact of the difficulty bomb with the network’s transition to a proof-of-stake consensus model with no mining.
I just released another one #AllCoreDevs Updates including Arrow Glacier, Kintsugi, and the recently proposed EIP-4488
Really recommended for those looking to speed up the EIP related compensation as it can be quick! https://t.co/RXPYiPIk2B
– Tim Beiko | timbeiko.eth ???? (@TimBeiko) December 2, 2021
In contrast to the London difficult fork, which created the entire fee structure for Ethereum and put deflationary pressure on the network, the Arrow Glacier update planned for this week isn’t too drastic. In fact, it’s not even as interesting as Altair, who started the beacon chain that kicked off ETH’s early transition to the Proof of Stake. Arrow Glacier is designed to keep bombs from exploding and give developers more time to switch to ETH 2. Without this upgrade, the existing network could be more difficult to use.
This has been in the works since 2015 when developers started creating the Ethereum network. The makers hope to go beyond the BTC consensus, a proof of work that will encourage people to contribute to the network’s computing power, governance, and security by providing them with freshly minted coins. Proofs of work that create an arms race for any computing power are not good for the environment, and that’s why the network has moved to the proof-of-stake. Coin holders can lock their ETH on the network to keep the blockchain secure, and they can get re-minted ETH in proportion to their contribution, even if they don’t have the best hardware.
Since the developers knew early on where to control Ethereum without proof of work, the developers hardcoded a dynamic within the blockchain to ensure they do so in the future. The code or difficulty bomb will make it harder for people to tear down ETH and slow the network down as long as it remains a proof of work. The August London Tricky Fork delayed the blast similar to other upgrades as the developers had to go back to the table and delay it again.