Last Thursday, during a call between developers, it was announced that this transition event should take place on September 19. And despite the fact that this and other steps for the upgrade to Ethereum 2.0 had some setbacks, the cryptocurrency market receives the news with optimism and leaving the bad times behind.
With the recent price movement, ETH is managing to erase more than a month of decline, returning to levels of last June 12. Nevertheless, it is still 60% below its price at the beginning of this yeartimes in which the market entered a sustained downtrend.
The news
ANDhe main developer of Ethereum, Tim Beiko, proposed September 19 as a tentative date for the merger between Ethereum network and ETH 2.0.
It should be noted that this change Ethereum to ETH 2.0 work has been going on since December 1, 2020, with the launch of the Beacon Chain and the start of Phase 0 of the transition.
It is also important to clarify what the switching Ethereum from a PoW network to a PoS. PoW (Proof of Work) refers to the way in which transactions are certified in a blockchain network. In this type of projects, mining reels are necessary to be able to carry out the analytical processes.
On the other hand, PoS (Proof of Stake) focuses on protocols where it is not necessary to have important mining equipment, since the cryptographic calculations are much easier to solve. In them, it is only necessary to demonstrate that a miner has a certain percentage of all the available cryptocurrencies of a certain currency.
Source: Ambito
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