Arrow Glacier update on the Ethereum cryptocurrency POW network
- Created: Thursday, 09 December 2021 04:46
Another POW update of the Ethereum cryptocurrency chain called Arrow Glacier is scheduled for December 9, 2021. This hard fork will adopt only one change numbered EIP - 4345. This update postpones the so-called ice age or complexity bomb until June 2022. If anyone doesn't know, the complexity bomb is a gradual increase of time between blocks in POW network, which accordingly decreases the income of miners and increases the cost of gas for users of smart contracts. Also in the mentioned EIP-4345 it is said, that the merging of Ethereum POW and POS network should take place before June 2022 and the developers themselves put another deadline for themselves on this date. Which can once again be questioned, as this is not the first postponement of the complexity bomb. To be more precise, it is the 5th postponement of the deadline for the transition to the POS. The first postponement of the complexity bomb was back in the fall of 2017 in a hardfork called Metropolis: Byzantium. Whether or not Ethereum cryptocurrency's two different chains will merge this time to another complexity bomb is probably for everyone to decide for themselves and draw appropriate conclusions about mining this cryptocurrency, and crypto investing. But one thing is for sure - the transition of Ethereum to POS will be one of the most significant events in the cryptocurrency world.