Ropsten officially migrates to Proof of Stake (PoS)
The long-awaited shift from proof-of-work (PoW) to proof-of-stake (PoS) consensus of the Ethereum blockchain today marks an important step in its journey, and more generally in that of the world of cryptocurrencies.
RopstenEthereum’s oldest testnet, officially just migrated to proof-of-stake consensus. Although various compatibility tests are still to be implemented, the network update went without any major problems, and constitutes one of the last tests before the official Ethereum migration on the same model.
The Ropsten network just merged!
—Bitfly (@etherchain_org) June 8, 2022
In an interview with our colleagues from Fortune magazine, Vitalik Buterinthe co-founder of Ethereum, confirms that this is a historic milestone:
“We hope it will be a good demonstration of how far we have come. If all goes well, that means we’re just one small step away from bringing Merge to the mainnet. »
Tim Beikoa leading developer of Ethereum, also celebrated the news from his Twitter account, saying that transactions were going smoothly, aside from a few misplaced block submissions.
—Tim Beiko | timbeiko.eth 🐼 (@TimBeiko) June 8, 2022
Although various test batteries still need to be carried out, particularly on the testnets Kiln, Rinkeky, then finally Goerli and Sepolia. Ropsten is considered the closest network to Ethereum in terms of structure, its migration therefore marks a very encouraging sign, the 2 networks being extremely similar.
Vitalik Buterin clarified that if these test sets go well, the migration from Ethereum to Proof of Stake could be considered in August.
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What are the challenges for this long-awaited migration?
Currently, the Ethereum blockchain operates through Proof of Work (PoW) consensus, which involves block mining in the same way as the Bitcoin network (BTC).
However, it is a method that has many drawbacks, if only in terms of energy consumption or in terms of scalability (possibility for the network to adapt to transaction flows).
Switching to proof-of-stake therefore has its share of advantages, including transaction fees maybe a little reducedthe latter being raised almost permanently, to the point of being recognized today as a major barrier to greater adoption.
Migrating Ethereum to Proof of Stake involves a shared work with the Beacon chainwhich already works on PoS and acts as a ” consensus layer “. In other words, the migration requires a merger of the 2 networks, and all of these tests are used to measure how optimize their common assimilation.
The 2 networks already work together, but they remain quite distinct. The Beacon chain has its own validators and already produces blocks, but parallel to Ethereum.
Furthermore, a PoW shutdown necessarily involves theblock mining stop. This is why miners who have previously deposited 32 ETH on the dedicated deposit contract will automatically transit to the role of validator in order to produce the new blocks.
Ultimately, we should have some news about The Merge update very soon, which has already been pushed back time and time again, but seems finally ready for the home stretch.
👉 Related – Ethereum (ETH): Mining Difficulty Hits All-Time High as Network Usage Declines
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