The Ethereum (ETH) Arrow Glacier upgrade is a relatively simple modification implemented in block number 13,773,000 on December 9, 2021.
So, is Ethereum proof-of-stake (PoS) now? No, with the Arrow Glacier upgrade, the Ethereum blockchain gets updated to keep it on track. This means that the Ethereum blockchain is yet to upgrade to the PoS model. Moreover, the Arrow Glacier Ethereum upgrade is significant for crypto miners, users, stakers and the upcoming Ethereum 2.0.
Like Muir Glacier, the Arrow Glacier network update alters the difficulty bomb (ice age) parameters, pushing it back several months, giving Ethereum 2.0 developers additional time to prepare for transitioning to the proof-of-stake (PoS) consensus mechanism.
The extension of the time bomb is a common feature of Ethereum updates that was initially intended for December 2021 and the London hard fork; however, it is projected to happen around June 2022. One Ethereum Improvement Proposal (EIP) defers the difficulty bomb in this release. An EIP is a proposal for a change that the Ethereum community creates and reviews.
Due to this upgrade, mining on Ethereum will become difficult and uneconomical, motivating miners to expedite the process of moving to the PoS consensus method. Arrow Glacier is especially intriguing because it appears to be the final stretch of the difficulty bomb before the introduction of Ethereum 2.0.
This article will discuss the Arrow Glacier upgrade announcement and answer questions like will Ethereum go to PoS? What should you mine after ETH goes PoS?
Ray Schuetz received a Masters Degree in computer science from The University of Texas (Austin). Ray has been working as a full-time blockchain consultant for the past 3 years. In his spare time, Ray enjoys writing for EthereumCryptocurrency.com and other crypto news publications.