The M Ethereum Network will undergo a Gray Glacier upgrade with a block height of 15,050,000 — expected to occur around June 30th. 11:00 BST..
During this period, the exchange will temporarily suspend Ethereum and some ERC-20 services. This includes deposits and withdrawals. Holders should consult the exchange regarding certain outages.
What is the Ethereum Gray Glacier?
Ethereum Gray glacier Upgrades are a key component for migrating to ETH 2.0 Proof of Stake (PoS). This is related to delaying the difficulty bomb by another 700,000 blocks. In other words, it will not explode until around October 2022.
“The upgrade to the Gray Glacier network will change the parameters of the Ice Age / Difficulty Bomb, which will delay 700,000 blocks, or about 100 days.”
Node operators and miners need to upgrade to the latest client list. Failure to upgrade means that you will get stuck in an old prefork chain that does not support operations on the newly upgraded network. The holder does not need to take any action unless instructed to do so.
Difficulty Bomb / Ice Age
The Difficulty bomb Mining difficulty increases exponentially over time until the ice age occurs. At this point, network mining becomes so difficult that block generation stops.
“Ethereum’s” Difficulty Bomb “is a predefined number of blocks that increase the difficulty of the Proof of Work mining algorithm puzzle and make it longer than normal block time (and therefore less ETH rewards for miners). ) Refers to the mechanism. “
The purpose is to have miners gradually stop mining the Ethereum 1.0 Proof-of-Work (PoW) chain as the network moves to the updated PoS.
This process needs to be coordinated with the Merge mainnet rollout, where the PoW and PoS chains are merged into a single chain.
Delaying the difficulty bomb means that the developer is not ready to merge and you need to postpone the launch of the difficulty bomb. Otherwise, the network will not be able to mine before ETH 2.0 is ready.Developers previously used a difficulty bomb December 2021..
In general, the constant delay to ETH 2.0 is at the expense of them. 1 Twitter user The owner was angry with the constant setbacks and commented that he was frustrated.
“”Most of what you see below the comments are anger, complaints, and abuse. This shows deep market expectations and hatred for the ETH merger and has been postponed many times.“”
another He called for the team to “rebuild” and call for a rude delay in the ETH community.
