Transfer Ethereum to Ethereum 2.0 faster
Transfer Ethereum to Ethereum 2.0 : As differences between Ethereum miners escalated, Ethereum developer Mikhail Kalinin released details of the merger of the current Ethereum chain and the Ethereum 2 chain. The release of these details indicates that Ethereum developers want to launch a new version of the network as soon as possible.
According to the Cointelegraph, Kalinin yesterday released details of the integration of blockchain Ethereum 2 and the current version of the network, reinforcing the possibility that Ethereum developers want to change the consensus protocol from proof of work to proof of stock sooner than expected. In the published details, it is stated that this update and change of protocol has reached the consensus of the Ethereum community.
Meanwhile, tensions between Ethereum miners and the developers of these cryptocurrencies have escalated over the current wage situation. Miners have claimed that by transferring the protocol from proof of work to proof of stock, a large part of their profits will be lost. However, the developers want to solve the problem of Ethereum fees by implementing the Ethereum 2 update.
Transfer Ethereum to Ethereum 2.0 faster
Transfer Ethereum to Ethereum 2.0 faster
It was announced last week that the major developers of Ethereum have planned to launch Ethereum 1559 improvement plan for July. With this plan, Ethereum commissions will be calculated based on common currencies and some of the commissions will be eliminated.
The goal of the 1559 improvement plan is to set up Ethereum incremental fees. The plan could also cut Ethereum miners’ revenue by up to 50 percent. To oppose this plan, some miners are seeking another plan called “Demonstration of Power.” The show of strength is a plan in which miners opposed to the 1559 improvement plan plan to move their hash rate to opposing pools on April 1.
Meanwhile, the main developers of Ethereum have prepared themselves to oppose the miners. Last month, Vitalik Butrin said on a Chinese social network that if miners threatened a 51% attack, developers would do their best to move the stock to proof as soon as possible.
The developers are also set to delay the launch of the hard bomb in the London update (July). This is done to reduce the risk of developing a hard fork. One Reddit user named Always_Question wrote, emphasizing the priority of integrating the current chain with Ethereum 2:
Merging the two chains as soon as they are ready will cause the cartel miners to abandon their actions to offset the positive effects of the 1559 improvement plan.
Last week, Butrin announced that Ethereum 2 developers’ priority for merging the two chains was more than launching sharing. It is said that this program is a way to reduce the effects of minor resistance in the implementation of the 1559 improvement plan.
Butrin said in another part of his speech that in the coming months a second tier solution to reduce operating fees will be available. This solution, implemented by Optimism, is supposed to increase the scalability of the current network 100 times. Butrin described the move as a “temporary” solution to launching Sharding.
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