Ethereum 2.0, the much-anticipated Proof-of-Stake version of Ethereum (ETH) smart contracts platform, will undergo its first crucial update in 48 hours.
According to Ethereum Foundation (EF) researcher Tim Beiko, Altair upgrade will go live at epoch 74240 on October 27, 2021.
To keep participating in Ethereum 2.0 Beacon Chain operations, all Ethereum (ETH) validators should upgrade their nodes. Failure to do so will be penalized.
This update advances validation logic, so, average Ether holders and traders won’t be somehow affected by its activation.
In Ethereum 2.0, Ethereum (ETH) operations will migrate from Proof-of-Work consensus with its mining to Proof-of-Stake (PoS), where the integrity of blockchain is guaranteed by stakers. Approximately, the transition (‘Merge’) will start in Q1-Q2, 2022.
Then, Ethereum (ETH) network will be divided into various interconnected shards to make it more scalable.