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Ethereum: The Altair update is getting closer

Source: Adobe / stockphoto-graf

Altair’s hard fork, the first update of the beacon mainnet Chain from ether (ETH), comes into force on October 27th.

The upgrade is considered “stack preparation” for the upcoming merge when the current Ethereum mainnet, which is protected by a Proof-of-Work (PoW) consensus mechanism, “merges” with the beacon chain. Proof-of-Stake (PoS).

According to the Ethereum Foundation, this update brings slight client support for the main consensus, cleans up beacon status incentive billing, fixes some issues with validator incentives, and increases penalty parameters.

Altair’s update may be the only beacon chain update that was activated last December before Ethereum switched to the PoS consensus mechanism.

The Beacon Chain introduced staking into the Ethereum ecosystem. As of now, however, users who commit to staking ETH can only withdraw their coins after the full transition from PoW to PoS.

Tim Beiko, a senior developer on Ethereum, says the update would make it easier for people to interact with the network, calculate the penalty for inactive stakers, and ensure the network can be updated smoothly in the beacon chain.

According to data from NodeWatch, 86% of Ethereum nodes are Altair-ready at the time of writing.

The Altair update comes less than three months after the highly anticipated London hard fork was activated.

At 13:19 UTC, ETH is trading at $ 4,119, up nearly 2% in one day and 7% in a week.


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