Ethereum network will receive a new update that is expected to go live at block number 13,773,000. Ethereum is expected to reach this block number on December 8. There is also a chance that this update might go live sooner than expected due to high volatility in the market.
Ethereum network is growing and developing very fast as it has to compete with the flagship currency. The largest cryptocurrency has been receiving updates constantly to be better. The main update which Ethereum network has received is EIP-1559 and EIP-4488. These updates are helping the network to change from PoW (Proof of Work) to PoS (Proof of Stake). A recent update, EIP-4488, was meant to decrease the gas fees of the network for the short term.
Ethereum network will receive a new update:
Ethereum network will receive a new update named, Arrow glacier update. Previous updates were meant to add, remove or change various mechanisms on the blockchain. Arrow Glacier network is something that the Ethereum network has been receiving constantly. This update is specifically designed to push back Difficulty Bomb for several months. These are the only changes that will be made by this update.
The Ethereum network has been in a state of transition from the PoW to PoS network, which is why it was decided to delay the difficulty bomb on the mainnet only and try to fully switch the Ropsten testnet to PoS before “Ice Age” begins. Difficulty Bomb is meant to stop miners from creating new blocks. Ice Age was formulated since the blockchain would stop functioning as mining difficulty spikes after the code goes off.
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