We are getting closer and closer to Ethereum 2.0, which will enable Ethereum to transition from a Proof of Work (PoW) business model to a Proof of Stake (PoS) business model.
During the Ethereum 2.0 journey, many updates were made to the network. The Berlin and London updates were the two important updates that took place in the past months.
Today, a new update called Altair will be activated on the Ethereum network. The update, which is expected to come into effect at 13.56 Turkish time, will bring some important changes with it.
With this update, it will be possible to use “shard chain” on the main network. It is stated that this update, which is planned to contribute to the scalability and capacity of Ethereum, has an important place in the transition to Ethereum 2.0.
He summarized the benefits of the Altair update to Tim Beiko, one of the Ethereum developers, as follows; “Verifiers on the Ethereum network will be able to process transfers more easily. Nodes not included in the updates will be penalized. This will make the transition to Ethereum 2.0 smoother.”
Danny Ryan of the Ethereum Foundation did not recognize the Altair update as follows;
“This upgrade brings light client support to the core consensus. The flag status is clearing the incentive accounting. It fixes some issues with validator incentives and increases its punitive parameters according to EIP-2982.”
Shortly before the Altair upgrade, Ethereum continues to trade at $4200.
*Not Investment Advice.