RATE Group | ETH/USD sluggish amidst Ice Age fears
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ETH/USD sluggish amidst Ice Age fears

11 Dec ETH/USD sluggish amidst Ice Age fears

Posted at 08:31h in Ethereum News by

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  • The Ice Age is a period of transition in the Ethereum network where mining will difficult and complicated.
  • The number of Ethereum coins produced per day has continued to tank from January 2019.

Ethereum Foundation is working towards the migration Ethereum network from the Proof of Work (PoW) consensus to Proof of Stake (PoS). However, the network’s block difficulty started growing in November 2016. The developers have since been executing hard forks to ensure the network continues to the time the migration is executed.

Ice Age refers to stage of transition where mining of new Ether coins will be extremely complicated due to a ‘difficulty bomb’ concept integrated in the current PoW. Casper, a new network would ensure that the Ice Age is averted. In theory miners were to shift to the new network but the development of the PoS algorithm continues to delayed.

On the other hand, the difficulty bomb is nearing explosion. The hard forks carried keep the…

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