Tim Beiko, the coordinator for core developers at the Ethereum Foundation, dives deep into the complexities of Ethereum's transition from proof-of-work to proof-of-stake. He discusses the reasons behind the potential delay of the merge, the role of difficulty bombs, and the innovative concept of shadow forks. Tim explains how these technical challenges could slightly impact gas fees and outlines strategies for scalability post-merge. He also hints at a cautiously optimistic timeline for a secure rollout.
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Ethereum Merge Explained
The Ethereum merge transitions the network from proof-of-work to proof-of-stake.
This involves changing how the blockchain creates new blocks, not the user-facing chain.
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Merge Delay
The Ethereum merge, initially expected in June, is delayed to the latter half of 2022.
This is due to unforeseen technical issues and the need for extensive testing through shadow forks.
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Shadow Forking
Ethereum uses shadow forks to test upgrades on a smaller scale before deploying them on testnets or mainnet.
This minimizes disruption to existing infrastructure built on testnets.
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Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze
Laura Shin
The Cryptopians delves into the story of idealists, technologists, and opportunists fighting to bring cryptocurrency to the masses. The book focuses on the founding of Ethereum by Vitalik Buterin and the subsequent crypto fever it created. It introduces readers to larger-than-life characters such as Buterin, Charles Hoskinson, and Joe Lubin, highlighting the personal and professional conflicts that shaped the early days of Ethereum. The narrative explores the booms, busts, and internecine wars within the crypto world, revealing it as a deeply personal struggle to influence the coming revolution in money, culture, and power.
Tim Beiko, the Ethereum Foundation coordinator for core developers, discusses his recent estimation that Ethereum’s merge, where the network transitions from proof-of-work to proof-of-stake, will be delayed until the second half of 2022. Show topics:
what the Ethereum merge is
why an upcoming difficulty bomb could force developers to delay the merge
what shadow forks are and how they affect the decision to go forward with the merge
how network difficulty is used in Ethereum to keep a balance between the blockchain and miners
Tim’s (purposefully vague) timeline for the merge
how the merge could increase Ethereum’s throughput by 9% – and thus potentially reduce gas fees slightly
how the Ethereum Foundation plans to address gas fees and scaling issues post-merge
Announcing The Cryptopians Book Clubs!
On April 26th, I will be selling NFT tickets to five 90-minute virtual book clubs in which 22 people can discuss "The Cryptopians" with me and with each other — without worrying about spoilers! Two of the book clubs will also feature special guests.
The sale will go live on Tuesday, April 26, at 1pm ET/10am PT, and tickets will be $100 each. (The sale will be on Bitski, but the NFTs will not be visible until the sale goes live on the 26th): https://www.bitski.com/@laurashin/created
Here is the schedule:
Monday May 2, at 8pm ET/5pm PT with Laura Shin
Tuesday, May 3, at a time TBD with guests Christoph Jentzsch, Lefteris Karapetsas, and Griff Green
Thursday, May 5, at 6pm CET/12pm ET/9am PT with Laura Shin
Monday, May 9, at 6pm CET/12pm ET/9am PT with guest Andrey Ternovskiy
Tuesday, May 10, at 9pm CET/3pm ET/12pm PT with Laura Shin
If you'd like to participate, be sure to mark your calendars for the sale time on April 26th. Hope to see you in one of the book clubs!
Unchained 