Anonymous Ethereum (ETH) miner and investor asked Mr. Beiko about the prospects of Ether mining in near future. Is Proof-of-Work (PoW) really on a borrowed time?
'Final chapter of PoW in Ethereum'
Mr. Beiko has taken to Twitter to answer one of his commentators who is interested in Ether mining. Anonymous Twitter user @TripleSack asked whether it makes sense to buy new mining equipment.
Also, he asked if the previous estimations of June, 2022 as the time frame for Ethereum's migration towards Proof-of-Stake (PoS) consensus still valid.
It won't be June, but likely in the few months after. No firm date yet, but we're definitely in the final chapter of PoW on Ethereum— Tim Beiko | timbeiko.eth ?? (@TimBeiko) April 12, 2022
Mr. Beiko claimed that Ethereum (ETH) won't migrate to new consensus in June. However, in 'few months', the second blockchain will go live on Proos-of-Stake.
As such, Ethereum (ETH) community entered the last phase of Proof-of-Work stage of its history.
First-ever shadow fork occured on Ethereum's mainnet
As covered by U.Today previously, Ethereum (ETH) developers started last testing campaign before the initiation of The Merge. The last pre-Merge testing phase Kiln was activated on multiple Ethereum testnets.
Also, on Apr.11, 2022, the first-ever 'shadow fork' in Ethereum (ETH) history went live on main network. It didn't affect the operations of main network, but emulated the Merge specifications.
Despite minor issues with some implementations, developers announced the success of this ambitious experiment.