The latest Ethereum news today show that the developers have recently suggested a new hard fork which is named ‘Muir Glacier’ that should address the ipending Ice Age which could definitely cause a significant slowdown on the Ethereum mainnet. The proposed hard fork Muir Glacier would push back the mechanism known as the Ice Age, an ETH developer named James Hancock wrote.
The Ethereum Ice Age, which is also known as Difficulty Bomb, refers to a period of increasing hashing difficulty in the mining algorithm that is used to reward miners with Ether (ETH) on its blockchain.
The piece of coding artificially slows down the production of blocks on Ethereum and its blockchain and functions as a deterrent for miners who want to continue with proof of work (PoW) even after Ethereum has transitioned to proof of stake (PoS).
Still, according to Hancock the existing implementation of Ice Age is complex (but does not need to be) and confusing to communicate to the community. As he added, any updates to the design should be able to model the effect on the network in a simple and straightforward way which is easy to predict when it occurs.
Hancock also pointed that the proposed hard fork for ETH would push back the mechanism “as far as is reasonable” in order to give developers the time to decide whether to update to Ice Age so that they predict its behavior – or remove it entirely.
“This fork would give us time to address the community to understand their priorities better as far as the intentions of the Ice Age, and give time for proposals for better mechanisms to achieve those goals,” he said.
Another interesting thing to add is that in November this year, the blockchain advisory and product development firm Akomba Labs conducted a testing on Ethereum’s network, showing that it could make block propagation at least twice as fast. The test results showed that the average block propagation performance managed to drop from 360 milliseconds to 172 milliseconds.
Aside from the newly proposed hard fork for ETH, we can see that the cryptocurrency is still below $150 and battling the $10 billion market cap.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]