Wed, April 24

Nimbus and Nethermind Run Merge Event To Prepare for PoS Transition

google-news
Nimbus and Nethermind Run Merge Event To Prepare for PoS Transition Ethereum News
  • The Beacon chain and the mainnet are distinct.
  • The Beacon Chain will bring proof-of-stake to Ethereum.

A recent picture of a Twitter user’s computer screen during a complex procedure sparked both delight and bewilderment. Jacek Sieka then stated that Ethereum clients Nimbus and Nethermind were “merging.” A proof-of-stake consensus method would be perfect for Ethereum.

The Beacon chain and the mainnet are distinct. The Beacon Chain will bring proof-of-stake to Ethereum, while the mainnet deals with smart contracts and proof-of-work. The merging would allow developers to mix the two before switching Ethereum to proof-of-stake.

It would then drive a proof-of-stake consensus mechanism. The Beacon chain would also allow staking and shard chains into the Ethereum ecosystem. By 2021-2022, Ethereum 2.0 should be ready. However, the merger of Nimbus and Nethermind is a positive sign. Also, interested individuals may test the merging themselves.

Bug Bounty Program

The upcoming Altair upgrade will include support for light clients in the core consensus, among other changes. Notably, Nethermind and Nimbus were two of five winners of $1.5 million in contributions towards the Ethereum ecosystem.

Until the update, Ethereum has launched a bug bounty program with increased incentives. This shows how important Altair is to Ethereum’s development plan. Ethereum’s gas consumption has been decreasing over the past several days. It fell to a one-month low. Ethereum’s mining earnings have also dropped to a new 18-month low of $65,264.58.

On the other hand, the number of addresses that possess more than 0.1 coins has reached an all-time high of 5,741,367. That is very encouraging news for the Ethereum ecosystem as well as for the cryptocurrency ecosystem, especially after last months chaos.

According to CoinMarketCap, Ethereum price today is $3,566.35 USD with a 24-hour trading volume of $21,413,993,123 USD.

Recommended for You

A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.

Related posts

Justin Sun's Alleged Ethereum Buying Spree Raises Price Speculation

Justin Sun’s Alleged Ethereum Buying Spree Raises Price Speculation

Recent events have sparked speculation over whether renowned crypto figure Justin Sun has purchased a large quantity of Ethereum (ETH). Assuming this is accurate, it may give the Ethereum price an additional push beyond $3,500 and beyond. An on-chain data provider Lookonchain has uncovered some interesting activity in whale wallets

April 22, 2024 1 min read
Victory Securities Unveils Fee Structure for Hong Kong BTC and Ether ETF

Victory Securities Unveils Fee Structure for Hong Kong BTC and Ether ETF

The new Hong Kong Bitcoin Ethereum spot ETF from the renowned Hong Kong financial organization Victory Securities features a comprehensive fee structure guide that was issued not long ago. This follows the SFC’s green light for spot trading in Ethereum and Bitcoin ETFs in Hong Kong. Some fees related to

April 21, 2024 2 mins read
Ethereum Co-Founder Criticizes Renewal of FISA's Section 702

Ethereum Co-Founder Criticizes Renewal of FISA’s Section 702

Vitalik Buterin, co-founder of Ethereum, has voiced concerns that the execution of new programs inside Section 702 would impact privacy and the crypto community generally, and has therefore criticized the renewal of Section 702 of the Foreign Intelligence Surveillance Act (FISA). The reintroduction of laws allowing the United States government

April 21, 2024 1 min read
© Copyright 2024All rights Reserved | TheNewsCrypto