CryptoPolyTech.com
Crypto, Politics, Tech, Gaming & World News.

Ethereum Developers Resolve Beacon Chain Finality Issues Ethereum Developers Resolve Beacon Chain Finality Issues | CPT PPP Coverage

 | cutline • press clip • news of the day |

Cryptopolytech (CPT) Public Press Pass (PPP)
News of the Day COVERAGE

200000048 – World Newser
•| #World |•| #Online |•| #Media |•| #Outlet |

View more Headlines & Breaking News here, as covered by cryptopolytech.com


Ethereum Developers Resolve Beacon Chain Finality Issues Ethereum Developers Resolve Beacon Chain Finality Issues appeared on www.newsbtc.com by Semilore Faleti.

Ethereum developers have taken measures to address the finality issues that occurred on the Beacon chain in the past week. On May 11 and May 12, the Beacon chain, the consensus layer of the Ethereum network, was unable to reach finality on two occasions. The first occurrence lasted for 25 minutes, and the second for over an hour. 

Although the exact cause of such an incident is yet unknown, it is worth stating that this network glitch had no impact on on-chain activity and transactions were still processed. 

Ethereum Developers Roll Out Network Patches To Tackle Finality Challenge 

In response to the past week, Ethereum developers have released patches to provide a solution for network users.

According to a tweet by Beacom Chain community health analyst superphiz, Teku and Prysm, two of Ethereum’s constitutional clients, have implemented these fixes, which will help prevent further finality issues on the Beacon chain. 

Superphiz also shared a statement from the Ethereum Foundation in which they are speculating the cause of these “exceptional scenarios” to be the “high load of some Consensus Layer clients”. 

The Ethereum Foundation applauded client diversity which made it feasible for transactions to occur on the network, as not all client implementations were affected by the finality challenges.

The Ethereum Foundation also confirmed that the exact cause of the Beacon chain glitch is still unknown. However, they provided assurances that the upgrades implemented by Teku and Prsym would help avoid future occurrences via optimizations that will prevent beacon nodes from high resource usage during these situations. 

ETH Total Supply Declines Following The Merge 

In other news, Ethereum’s total supply decreased in the months after The Merge. 

On September 15, 2022, The Merge occurred in which the Ethereum network fully transitioned from Proof-of-Work (PoW) to Proof-of-Stake (PoS), leading to Ethereum 2.0. 

In the 241 days after this historical event, data from the Ethereum supply analytics platform, ultrasound.money shows that ETH’s total supply has declined by 0.29%.

Source: ultrasound.money

Since The Merge, over 653,000 ETH has been burned compared to the 425,000 ETH that has been minted in the last eight months resulting in a net negative change of about -227,000 ETH.

Interestingly, ultrasound.money predicts the total ETH supply to have increased at a rate of 3.244% per year had The Merge not occurred.

That said, if this deflationary trend continues, it would mean good news for long-term ETH investors. This is because a decrease in supply usually results in a rise in value. 

At the time of writing, ETH is trading at $1,805.77 with a total supply of 122.89 million. Along with most of the market, ETH showed a negative price movement in the last week, losing 5.36% of its value. 

Ethereum

ETH Trading At $1804.73 | Source: ETHUSD Chart on Tradingview.com

Featured Image: Forbes, chart from TradingView



FEATURED ‘News of the Day’, as reported by public domain newswires.

Find more, like the above, right here on Cryptopolytech.com by following our extensive quiclick links appearing on images or [NEWSer CHEWSer].
View ALL Headlines & Breaking News here.

Source Information (if available)

This article originally appeared on www.newsbtc.com by Semilore Faleti – sharing via newswires in the public domain, repeatedly. News articles have become eerily similar to manufacturer descriptions.

We will happily entertain any content removal requests, simply reach out to us. In the interim, please perform due diligence and place any content you deem “privileged” behind a subscription and/or paywall.

CPT (CryptoPolyTech) PPP (Public Press Pass) Coverage features stories and headlines you may not otherwise see due to the manipulation of mass media.

We compile ‘news of the day’ content in an unbiased manner and contextually classify it to promote the growth of knowledge by sharing it just like Ethereum Developers Resolve Beacon Chain Finality Issues Ethereum Developers Resolve Beacon Chain Finality Issues

First to share? If share image does not populate, please close the share box & re-open or reload page to load the image, Thanks!

You might also like