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[Delio] Ethereum Launches Latest Shadow Fork before the Merge

Ethereum recently passed one of the final tests necessary before the Merge — the blockchain’s long-awaited switch to proof-of-stake, crypto media Decrypt reported on July 15.

The ninth shadow fork of Ethereum went live, as the network continues to test its upcoming transition from a proof-of-work to a proof-of-stake consensus mechanism. For Ethereum’s merge beforehand, it has been undergoing a series of test forks that copy data from the main network to a test environment network.

Notably, shadow forks are distinct from complete testnet hard forks, like last week’s Sepolia testnet, which transferred the whole Ethereum mainnet over to a test environment network. ETH is now generated by “mining” it with specialized technology, but following the Merge, it will be earned by “validating,” or promising significant amounts of pre-existing ETH. Moreover, the MEV will allow validators to offer space within blocks they create to other validators through a mechanism that increases validating profits across the board.

While the Ethereum Foundation believes that the proof-of-stake method of issuing new ETH will be 99 percent more ecologically benign than the existing one meaning that the energy-intensive proof-of-work model will also imply smaller income for the individuals participating.

Speaking upfront the merge, only one major test is left before the actual merge occurs. This test is scheduled for the next month.

Source: DECRYPT

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Delio

Delio

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Delio Digital Asset Finance Group, established in 2018, is №1 fintech company based in Seoul and acquired digital asset licenses from Korean and US governments.