Developers are postponing Ethereum’s transition to Proof-of-Stake planned for this summer.

Ethereum’s Transition to Proof-of-Stake Delayed

Ethereum’s transition to Proof-of-Stake (PoS) planned for June won’t happen. This was reported on Twitter by one of the Ethereum Foundation developers, Tim Beiko. He said the shift will still take place, but later than the scheduled date, though it certainly won’t be this summer.

Another delay drew disapproval in the ETH community, but Beiko assured users that Ethereum is “in the final chapter” and everything is ready for the transition to PoS. However, he did not give details regarding another delay.

So, there is no exact date for Ethereum’s switch to the Proof-of-Stake algorithm. Developers say that the transition requires solving all potential problems that may arise in connection with algorithm changes. They also claim that the exact timing can be announced only after the failure-free operation of all test networks on Ethereum 2.0.

Such news had a negative impact on ETH quotations. As of 14:30 (GMT+3), the daily token price fell by 1.7%, according to CoinGecko. 

More about the specifics and peculiarities of Ethereum you can find in the Academy materials.

Author: Nataly Antonenko
#Cryptocurrency #Ethereum #News