Will it rebound after overcoming Ethereum’s bad news?
Ethereum is implementing a key process for updating “Etherium 2.0,” but the rebound in the price of Ethereum (ETH) coins is still far from right.
According to the virtual asset industry on the 29th, the Ethereum Foundation said that at 19:43 Korean time, the height of the ETH block was 15.05 million
It is going to do ‘Gray Glacier’ hard fork.
Hard fork is a task of branching and upgrading the blockchain and is used to move from the existing blockchain to another blockchain.
The main purpose of this grey glasher hard fork is to postpone the introduction of the “Difficulty Bomb” until mid-September
“Difficulty bombs intentionally increase the difficulty of mining and gradually abolish the existing proof of work (PoW) method,” said a content official at the virtual asset disclosure site
“If the difficulty bomb increases the difficulty of mining, it becomes too difficult to mine in the chain
“We will eventually enter ‘Ice Age’ that stops (frozen) block production.”
Once the Ethereum 2.0 update is completed, it is expected to reduce supply in the long run, increase coin deposit (staking) compensation, and solve power waste problems.