Everything can change for Ethereum from June 8, 2022

On June 8, 2022, the Ethereum blockchain will launch a full-scale proof-of-stake test. This is the first time that the developers of Ethereum will carry out such a large-scale test (on the Robsten testnet). As a reminder, there are several ways that proof of stake, from English Proof of Stake, is mentioned by Ethereum. Having already often disappointed on this theme, Ethereum Foundation prefers to remain discreet on the subject.

June 8, 2022: the crypto planet will shake!

So, it was not Vitalik Buterin who revealed that on June 8, 2022, the test on Robsten was going to take place. According to our information collected on Twitter, the leak comes from a DevOps engineer, who will participate in this full-scale test on June 8. If Ethereum passes its large-scale test and proves that proof of stake works, it’s a real revolution for all cryptocurrencies on the planet.

In effect, this means that eventually proof of stake can replace proof of work, which is currently used by all major blockchains on the planet. And this proof of stake is not just a semantic change, it’s a technical breakthrough. Because the proof of stake consumes much less energy than proof of work. Thus, the use of cryptocurrencies for transactions could more easily be generalized to the entire population.

If the June 8, 2022 test works correctly, the Ethereum update (from PoW to PoS) could take place next August according to a statement from CEO Vitalik Buterin:

🧬 Vitalik Buterin said at the Shanghai Summit that Ethereum’s transition from Proof-of-Work to Proof-of-Stake will probably happen in August 2022. If there are any problems, the transition will be postponed until September or october. #ActuMondeCrypto #Ethereum #ETH Like & RT 👍

A revolution in Ethereum mining?

But, it’s not just the Proof of Work (PoW) which should be made to disappear once the Proof of Stake (PoS) valid. Indeed, it would also mean the end of miners on Ethereum. Many are very worried, even if one can legitimately think that the mining should continue in one way or another.

💎 Find the best Gems with our Free Guide!

Learn how to analyze cryptos like a pro, avoiding Red Flags and Scams, to start or continue your adventure in the world of cryptocurrency.

Read also 3 reasons why Avalanche (AVAX) is one of the best cryptocurrencies for 2022

Leave a Comment