June 28, 2022

Things Not Looking So Good for ETH as Ethereum Upgrade Faces Another Delay

Once again, the Ethereum community is facing a huge upset as the upgrade they awaited for so long has yet again faced another delay. The developers of Ethereum (ETH) have made another announcement that has turned out to be nothing less than a bomb for the ETH community.

The developers behind Ethereum have announced that the implementation of the upgrade will be facing another delay. The delay announced by the officials has worked like a difficulty bomb for the entire ETH community.

The implementation of the difficulty bomb meant that it would become almost impossible for the users to mine ETH tokens. They have announced that they are looking at a two-month delay in the implementation of the difficulty bomb code.

Discussion Over the Ropsten Public Testnet

On Friday, a meeting was held among the developers of Core Ethereum. The meeting was held for the public testnet of Ethereum known as Ropsten.

It was revealed during the meeting that they had found that some bugs had to be fixed before the deployment of the testnet. It was at that meeting that the developers proposed the delay while explaining the situation.

The new proposal that will cause the delay in the network has been dubbed “EIP-5133”. The teams have confirmed once the code is implemented, it would cause the delay to last until August of 2022.

Comments by Tim Beiko

Tim Beiko, the lead developer behind the development of the difficulty bomb talked about the delay in the implementation. Beiko stated that all of the developers agreed before announcing the delay in the implementation.

He stated that they were already working overtime and it was important for them to ensure that the deployment was free from all the flaws. Therefore, they decided to go for the delay and make necessary changes in order to make sure the protocol is implemented flawlessly.

Initially, they had announced that the difficulty bomb will be placed in late June. Now, the implementation of the difficulty bomb has been delayed until August of 2022.

ETH 2.0’s Launch in August

It is expected that the implementation of the ETH 2.0 protocol will now intersect with the implementation of the difficulty bomb. This will result in increasing the difficulty that the users will face in mining ETH in August.

With the implementation of both upgrades, it is expected that the market value and demand for ETH will rise significantly. Now is the time for the investors to make investments and acquire as many ETH as possible.

At the time of writing, ETH stands at $1,172.71, having experienced a 5.07% price soaring in the past 24 hours. The overall valuation of ETH currently stands at $141.73 billion.

Leave a Reply

Your email address will not be published.