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    Home»Bitcoin»Arrow Glacier is coming to Ethereum today. What will it give cryptocurrency?
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    Bitcoin

    Arrow Glacier is coming to Ethereum today. What will it give cryptocurrency?

    AdministratorBy Administrator08.12.2021No Comments5 Mins Read
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    A few months ago, Ethereum developers asked users to update their nodes – the nodes of the network that run the network software and predominantly store a copy of the complete blockchain of the cryptocurrency. Upgrading most of the nodes has traditionally been a prerequisite before integrating the London hard fork. Now programmers have again announced the need for an update – this time in order to delay the so-called difficulty bomb – a mechanism that increases the difficulty of Ethereum mining in order to stimulate the ecosystem in the transition to the Proof-of-Stake algorithm. Let’s talk about what is happening in more detail.


    По традиции начнём с объяснения. Последним крупнейшим обновлением сети Ethereum стал апдейт London, который прошёл пятого августа 2021 года. В первую очередь он запомнился новой моделью формирования комиссий в сети криптовалюты и внедрением механизма их сжигания. Таким образом создание каждого нового блока в блокчейне заканчивается уничтожением определённого количества ETH.

    According to The Block, the cumulative amount of destroyed ethers reached $ 4.44 billion yesterday. It was this ETH equivalent that was permanently out of circulation.

    Arrow Glacier is coming to Ethereum today What will it

    The total amount of destroyed ethers

    Thus, the coins remaining in circulation became more valuable. However, netizens still face the problem of high fees. For example, right now you will have to pay about $ 6.9 to send ETH. Well, the transfer of an ERC20 token costs $ 21.

    1638954911 979 Arrow Glacier is coming to Ethereum today What will it

    Ethereum fees

    Be that as it may, blockchain updates are carried out regularly. Today we are waiting for the next one.

    Ethereum network update

    Ethereum’s latest update is called Arrow Glacier. It should be activated today. Unlike the London hard fork, there is no such drastic change. The main purpose of Arrow Glacier is to defer the difficulty bomb. Made to give developers more time to migrate to the second version of the Ethereum protocol, Decrypt reports.

    1638954911 703 Arrow Glacier is coming to Ethereum today What will it

    Developers’ progress in the transition to Ethereum 2.0


    Напомним, концепция "бомбы сложности" появилась ещё в 2015 году вместе с запуском Эфириума. Речь идёт о постепенном увеличении сложности майнинга ETH. В итоге это сказалось бы на сети следующим образом: сложность майнинга растёт, создавать блоки с помощью того же оборудования становится всё сложнее, блоки добываются медленнее, провести транзакцию становится всё сложнее, и в итоге пользоваться блокчейном стало бы невозможно.

    Then the programmers hoped that such a mechanism would serve as an additional impetus for the transition to Proof-of-Stake. Unfortunately, the transition itself is a rather time-consuming process that took several years of active development. Therefore, in the end, the complexity bomb was simply postponed, and several times. The same thing will happen today, with the “bomb” postponed until the launch of the updated Ethereum 2.0 network.

    The decision to abandon the current Proof-of-Work (PoW) consensus algorithm looks very logical in the context of the long-term problems of this method of confirming what is happening on the network. PoW spends too many resources to find solutions to new blocks using expensive crypto farms or conventional video cards. Moreover, the higher the popularity of the cryptocurrency, the more resources it will spend in the future.


    В пользу обновлённого Proof-of-Stake можно привести несколько аргументов. Прежде всего, он современный и позволяет валидаторам не тратить время на настройку ферм и их периодическую починку. Вдобавок сам по себе алгоритм консенсуса PoS является более современным и позволяет лучше защищать сеть. Наконец, весной сообщество за пределами криптовалют взялось активно критиковать энергозатратность PoW-майнинга в лице Биткоина, причём к замечаниям также присоединился Илон Маск. В данном случае это позволит избежать возможных проблем с репутацией проекта.

    At the same time, the transition of Ethereum to PoS also has its disadvantages and disadvantages. Read more about them in a separate article.

    Arrow Glacier is coming to Ethereum today What will it

    Etherium

    Arrow Glacier should be activated on block 13,773,000, which should be mined on the Ethereum network today, December 8, 2021. If you have a cryptocurrency network node, you should update the software to the latest version of the clients. Here is a list of them:

    • Geth 1.10.12
    • Besu 21.10.0
    • Nethermind 1.11.7
    • Erigon 2021.11.01-alpha
    • EthereumJS VM 5.6.0
    1638954911 447 Arrow Glacier is coming to Ethereum today What will it

    Ethereum network hashrate growth over time

    Arrow Glacier will postpone the difficulty bomb to ensure stability in the Ethereum ecosystem. If we now take to gradually increase the complexity of mining, ETH mining and network security will become economically unprofitable for many miners, which can seriously undermine the stability of Ethereum. In addition, cryptocurrency is the platform for many DeFi applications and NFTs, so now the complexity bomb would do far more harm than good.


    Остаётся надеяться, что в этот раз бомба сложности будет отложена последний раз. Всё же подобное происходило неоднократно, а значит по сути концепцию можно считать провальной. Да, разработчики активно готовят блокчейн к переходу на вторую версию, но главным поводом для этого стала точно не "бомба".

    Anyway, we are waiting for the next important update of the Ethereum network. It doesn’t take long to get to the desired block.



    #Arrow #Glacier #coming #Ethereum #today #give #cryptocurrency

    Arrow coming cryptocurrency Ethereum give Glacier today
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