Ethereum 2.0: Reasons Why ‘Next Month’s’ Upgrade May Be Delayed

Share This Post

Ethereum 2.0 struggles merging over stubborn bugs keeping miners on-chain

Aware of the ecological issues blockchain has brought to Web3, Ethereum has joined forces with Beacon Chain to create a new version of its blockchain, Ethereum 2.0. The plans include new mechanisms to make the network more scalable, secure, and sustainable.

For years, Ethereum has been promising to transition into a more energy-efficient system by switching to Beacon Chain’s Proof-of-Stake (POS) and ditching Proof-of-Work (POW). Finally, the network set its upgrade to transpire next month. However, the proposition delays yet again. Why? Over struggling booting out miners over recently found bugs.

TROUBLES BEHIND THE TRANSITION

Since day dot, Ethereum uses a unique code, ‘the difficulty bomb’, to erase miners from the blockchain. The bomb increases computing issues of underlying mining tokens, eventually making mining impossible.

The blockchain network planned on turning on the bomb yesterday to eliminate miners before Beacon Chain’s POS system slowly takes over to create Ethereum 2.0. However, developers found numerous bugs buried within the network when attempting to do so.

CONSEQUENCES OF THE DELAY

Ethereum’s developers have decided to delay turning the bomb on until having the know-how to iron out the bugs buried within the network. Unfortunately, this isn’t the first time they have detained the staking plans.

Concerning continuous false hope, crypto enthusiasts aren’t taking the news of the set-back lightly:

According to Bloomberg, the errors could push the transition back until September or October. Let’s hope the change rolls out soon; otherwise, Ethereum’s reputation could be on the line.

Subscribe to the NFT Lately newsletter to receive news covering the latest NFT drops, releases, reviews and more.

spot_img

Related Posts

Coinbound Appoints Lindsay Keyfauver to Director of Coinscribble

New York, NY – October 2nd, 2024 – Coinbound,...

Coinbound Named to Manifest’s Global Most Reviewed Advertising and Marketing Agencies List for 2024

Honored for Excellence in Blockchain Marketing, Crypto Marketing, Investor...

Void 2122 to Unlock a New Era of Combat Card Gaming with NFTs

The pioneering force in the Web3 landscape, Void 2122,...

Magic Eden Adopts Solana’s Compressed NFTs

Magin Eden, the distinguished NFT marketplace, recently announced its...

Friend.tech Returns With Surging NFT Trading Volumes

Friend.tech, the decentralized social media app, has shown an...

Related Posts

The History of Bitcoin NFTs – A Step-by-Step Timeline

With recent hype surrounding Casey Rodarmor's release of open-source...

Justin Beiber’s Track “Company” Releases as NFT

The renowned global pop sensation Justin Beiber’s 2015 hit...

Top 10 NFT Marketplaces to Look Out For and Why

How numerous NFT marketplaces make hunting for digital collectibles...

Everything About Starbucks NFT Reward Program ‘Starbucks Odyssey’

A Starbucks NFT will reward customers with a trip...

What is NFT INT LLC? (And Who Owns It?)

This week, headlines broke across nearly all major media...

Top 5 Most Expensive CryptoPunks NFTs and Reasons Why

CryptoPunks' unique attributes sell for six digits or more CryptoPunks,...