Gray Glacier Has Been Successfully Launched On The Ethereum Network In Preparation For The Major Merge.
Gray Glacier has been successfully launched on the Ethereum network. As reported by the Cryptolifedigital, the Ethereum network was scheduled to take a scheduled upgrade called “Gray Glacier” at block 15,050,000 on 29th June. The Difficulty Bomb will be prolonged by 700,000 blocks via the Gray Glacier upgrade. The mining action of the miners on the current network, Ethereum 1.0 will be discouraged by the Difficulty Bomb after the successful transition to Ethereum 2.0.
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According to the core developer at Ethereum, Tim Beiko, this delay or prolongment of the Difficulty Bomb will be the last. He added that the Bomb would keep fraud off the network because it would require decent technical knowledge.
These successful network upgrades further revealed the adoption of the Ethereum improvement proposal, EIP-5133 created on June 1st by Tomasz Kajetan Stanczak, Eric Marti Haynes, Josh Klopfenstein, and Abhimanyu Nag.
Facts About Gray Glacier Upgrade
- The upgrade primarily has to do with Ethereum node operators or miners. In this view, As an Ethereum user or ETH holder, using either an exchange, a web service, a mobile wallet service, or a hardware wallet, you need not to do anything unless you are told to do it by your exchange or wallet service.
- As reported by the cryptolifedigital, it is mandatory as a miner to update your Ethereum client versions accordingly to be compatible with the upgrade.
- And failure to update the Ethereum client to the latest version will be disallowed from working on the Gray Glacier upgraded Ethereum network
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As earlier stated, the Gray Glacier upgrade is a type of network upgrade that changes the parameters of the Ice Age or difficulty Bomb, pushing it back by 700,000 blocks, or roughly 100 days.
Cryptolifedigital is a cryptocurrency blogger and analyst known for providing insightful analysis and commentary on the ever-changing digital currency landscape. With a keen eye for market trends and a deep understanding of blockchain technology, Cryptolifedigital helps readers navigate the complexities of the crypto world, making informed investment decisions. Whether you’re a seasoned investor or just starting out, Cryptolifedigital’s analysis offers valuable insights into the world of cryptocurrency.
