The long-planned upgrade of the Ethereum network is moving closer to a scalable, proof-of-stake consensus model as developers set a date for an Altair upgrade.
Altair, touted as the first major network upgrade to the Beacon Chain, is scheduled to take place at 74240, or around October 27, according to the researcher at the Ethereum Foundation Danny Ryan.
By Cowen Telegraph, Ryan described the technical upgrade as follows: This upgrade brings light client support to core consensus, cleans up Beacon state incentive accounting, and fixes some issues with Validator incentives, punitive standards ramping up according to Ethereum Improvement Proposal-298.
The Ethereum Enhancement Proposal-298 provides punitive criteria to ensure that the Proof of Stake protocol is economically secure. Idle leakage and interruption are the proposed penalties under the improvement proposal.
Ethereum's London hard fork arrived almost on schedule on August 5, kicking off the highly anticipated 1559 Ethereum Improvement Proposal. Proponents have described the Ethereum improvement proposal-1559 as a deflation key as it involves burning the core fees, thus reducing the circulating supply of Ethereum.
Ethereum co-founder Joseph Lubin before moving to Consencience said London is putting Ethereum on the right track to become hypersonic money.
The concept of sonic or ultrasonic money has been popularized by the Bitcoin (BTC) community and refers to an asset that is not prone to sudden drops in value or purchasing power.
