After a meeting on Friday (10), the developers of Ethereum (ETH) they postponed the launch of the “difficulty bomb” In the net. The engine would be installed in June, but now the commissioning will only take place in August.
According to the group, it was decided to postpone the implementation after an evaluation of the Merge test on the Ropsten network. Apparently the test revealed a number of engine failures. Therefore, the developers felt it was better to defer execution.
The original postponement proposal, called EIP-5133, called for the implementation to be delayed until September, but they decided on the date in August. It is the fifth time in seven years that the Ethereum team has postponed the deployment of the bomb.
The decision causes more delays
The engine is a crucial catalyst for the release of The Merge update. It is the difficulty bomb that will end the migration of ETH mining from Proof of Work (PoW) to Proof of Stake.
Since its inception, Ethereum has had plans aimed at exchanging the mining algorithm. So much so that the pumping mechanism has been in the currency code since 2015. But it was only in the last two years that the transition began.
However, testnet results revealed some flaws. The first of these was the loss of several blocks, which the team was very aware of.
After evaluating the results, the team and Tim Beiko, the main developer of Ethereum, confirmed the decision.
“In short, we agree with the delay of the bomb. Our goal is to have a delay of about 2 months and release an update at the end of June,” Beiko tweeted.
At first, Beiko and the Ethereum developers did not say if this would delay the implementation of The Merge. In fact, they didn’t even set an initial deadline.
But then Ethereum founder Vitalik Buterin and developer Preston Van Loon spoke. The two stated that the stipulated deadline was in August.
What is the difficulty bomb?
Currently, miners use computers and processing power to validate ETH blocks. To do this, they provide computing power to the network, which guarantees the security of ETH.
In exchange, miners receive rewards for each block mined. The process works the same as in Bitcoin (BTC)but with technical differences.
The Merge update will totally change this process. Miners will become validators and will no longer provide computing power. Instead, they will use your crypto to validate blocks on the network.
To prevent miners from rejecting PoS, the difficulty bomb will drastically increase the difficulty of the block. In this way, the miners will not have enough computing power to mine the blocks, forcing them to migrate the algorithm.
Ethereum price action
Although The Merge does not reach the main network, the price of Ether (ETH) fell sharply on Monday (13). The fall reached almost 20%, while the devaluation amounts to almost double that of the last seven days.
A combination of macroeconomic factors caused this drop, as well as factors from the cryptocurrency market itself. One of them was the ETH sell-off on Uniswap, which brought the price of the cryptocurrency below the market price.
ETH is now down 69% from its all-time high of $4,891 in November 2021, according to CoinmarketCap.