Altair Latest Update From Ethereum
Rancakmedia.com – On Wednesday (27 October), Ethereum launched another upgrade called Altair. It is a form of beacon chain that will commit and coordinate an extended network for sharding and staking, as well as assisting the consensus transition from Proof-of-Work (PoW), to Proof-of-Stake (PoS) consensus.
Ethereum Altair Update Is Coming
The inclusion of Altair will no doubt complement the previous update, EIP-1559, to become an entirely new and more amazing Ethereum.
“This may be the last upgrade to the beacon chain before Ethereum turns Proof-of-Stake,” said Pooja Ranjan, Group Head of Ethereum Catherers Project Manager.
Additionally, Ranjan further mentions that Altair was implemented with over 95 percent validator engagement at the time of upgrade. This is everything for network security.
The role of the Beacon Chain
To your knowledge, the beacon chain plays a very important function in the Ethereum ecosystem. First deployed in December 2020, the network has added staking to the Ethereum ecosystem.
In addition, the beacon chain also prepares the mainnet for the “shard chain” which will make transactions on the network that often fail faster by producing 64 blockchains that work in harmony. This will be the backbone of Ethereum 2.0.
According to Tim Beiko, Coordinator of Ethereum developer work, Altair comes with three main features, namely:
- Allows developers to build light clients in a beacon chain. It is a smaller version of node software which is used to verify blocks and related transactions.
- Increase the inactivity penalty to an ideal level. Staking does not mean the user can do nothing and enjoy the results. They have to keep their nodes updated to software or they will be penalized. The network has reduced the fine with this update.
- Provides an opportunity to verify that the blockchain is ready for changes to the beacon chain.
In 2022, Ethereum is set to migrate to a PoS consensus, which certifies the network using the crypto ETH it currently owns.
And FYI, PoS no longer requires energy like PoW. Thus, this will reduce the environmental effect of Ethereum by up to 99 percent.
"While a complete migration to PoS isn't happening anytime soon, Altair is an important step closer to it," said Team Beiko.
This update is certainly a beneficial influence on the cryptocurrency, Ether (ETH).
This is clear with ETH's continued strength to record all-time highs (ATH), according to data from CoinGecko. This increase seems still not going to end.
The Ethereum Altair is a form of beacon chain that will commit and coordinate an extended network for sharding and staking, as well as assisting the consensus transition from Proof-of-Work (PoW) to PoS. Altair comes with three main features, viz.
Developers can build light clients in beacon chains; Increase the inactivity penalty to an ideal level; Setting up the mainnet for “chain shards” that will make transactions on the network that fail frequently faster by producing 64 blockchains working in harmony.