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ETH 2.0 moves closer to fruition as devs set Altair upgrade for October


29 Sep 2021

#Ethereum

Ethereum’s transition to proof-of-stake continues, with the first mainnet upgrade of Beacon Chain scheduled for late October. The Ethereum network’s long-planned upgrade to a scalable, proof-of-stake consensus model grows closer as developers set a date for the Altair upgrade. Altair, which is described as the first mainnet upgrade to the Beacon Chain, is scheduled to take place at epoch 74240, or roughly Oct. 27, according to Ethereum Foundation researcher Danny Ryan.

Ryan described the technical upgrade as follows: “This upgrade brings light-client support to the core consensus, cleans up beacon state incentive accounting, fixes some issues with validator incentives and steps up the punitive params as per EIP-2982.”

EIP-2982 introduces “punitive parameters” to ensure that the proof-of-stake protocol is economically secure. “Inactivity leak” and “slashing” are the two proposed penalties under the improvement proposal. Ethereum’s London hard fork arrived almost on schedule on Aug. 5, ushering in the highly anticipated EIP 1559 proposal. Proponents touted EIP-1559 as the deflationary switch because it involved burning base fees, thereby reducing the circulating supply of ETH.

Joseph Lubin, who co-founded Ethereum before moving on to ConsenSys, said London puts ETH on track to become “ultrasound money.” The concept of “sound” or “ultrasound” money was popularized by the Bitcoin (BTC) community and refers to an asset that is not susceptible to a sudden depreciation in value or purchasing power. The ETH price was down sharply on Tuesday, as cryptocurrencies sold off along with other risk assets, including stocks. ETH was last seen trading at $2,822, having declined 6.5% on the day.


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# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 61.2% 87 $29 380.18 -3.28% -2.43% $559 642 402 733 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 59.2% 88 $1 959.56 -5.15% -4.83% $236 921 809 457 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $0.998958 -0.01% 0.02% $73 198 714 964 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 91.6% 1 $1.000329 0.03% -0.01% $53 273 212 846 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 61.2% 88 $321.57 -3.53% 6.21% $52 504 644 349 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 58% 91 $0.403749 -5.20% -5.34% $19 518 470 146 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 92.8% 1 $0.999393 -0.21% -0.08% $18 312 587 333 BUSD 7 days price change
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12 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 57.2% 87 $29 401.79 -3.22% -2.31% $8 132 620 498 WBTC 7 days price change
13 TRON (TRX) TRX TRON predictions 73.2% 56 $0.081939 7.58% 16.52% $7 754 289 182 TRX 7 days price change
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15 Dai (DAI) DAI Dai predictions 90.8% 1 $1.000302 -0.03% 0.01% $6 573 514 573 DAI 7 days price change

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