New Ethereum upgrade date revealed

Computer scientist and Ethereum developer Tim Pico revealed today, Thursday, that the long-awaited transition of the protocol from Proof of Work to Proof of Stake for Ethereum will likely be completed after next June.

Expectations are that Vitalik Buterin's Ethereum network may switch from a power-requiring Proof of Work consensus mechanism to a quota mechanism this summer, but one of the leading Ethereum developers, Tim Peko, says this upgrade may be too late.

The Ethereum developer clarified that there is no confirmed date yet, but they are definitely in the final chapter of the new Ethereum mining mechanism.

Currently, Ethereum, like Bitcoin, uses a great deal of power to run its supercomputers, which in turn validate transactions and create new blocks, but the new upgrade will tweak this mechanism, and it will switch to Proof of Stake mechanism, which in turn will have a big role. In support of Ethereum transactions.