When will Ethereum transition to PoS (Ethereum PoS postponed to 2022)?
According to statistics from ethstaking.info, there are currently nearly 43,000
According to statistics from ethstaking.info, there are currently nearly 43,000 validators in the last block of ETH transitioning to PoS. In terms of the current network status, it is currently in the mainnet launch phase (expected date February 28, 2021). This means that the Ethereum hard fork and merger to complete the PoS consensus mechanism upgrade will be completed before the third quarter of 2019 or early 2020. From the ICO era in 2015 to the end of 2019, it is known that the issuers of cryptocurrencies such as Bitcoin and Litecoin have been hoarding BTC, ETH, and DEFI tokens. But with the upcoming launch of Ethereum 2.0 beacon chain, people are becoming more interested in the concept of “decentralization”. So when will Ethereum transition to PoS? Most likely when? After Ethereum transitions to PoS, the most concerning question for everyone might be: When can we achieve the transfer of PoW mining and staked assets? Because PoW mining and PoS consensus mechanisms have similarities, when users hold a certain amount of money, they can choose to deposit a portion of the money as collateral for lending without locking their funds, and then use their held assets to participate in DeFi projects. This avoids the possibility of arbitrage and reduces risks, allowing more people to invest with all the assets they hold.According to a report by CoinDesk, based on a tweet by Ethereum developer Tim Beiko, Ethereum PoS will be postponed to 2022 due to “community concerns about the health of the network”. The team stated, “To address the developments of this event, we will start with mainnet candidate nodes and testnet upgrades starting in the third quarter of 2021.” Additionally, the launch of the second hard fork is expected later this year. Between December 4th and 9th, a week before the merger, “Ethereum” will use the proof-of-stake (PoS) consensus algorithm for executing smart contracts for the first time.
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