06 May 2022 13:18, UTC
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Ethereum will undergo another major update that will take the network one step closer to the Merge update, which will change the network’s consensus protocol from Proof-of-Work to Proof-of-Stake.
Shadow-fork-3 of the core Ethereum network is a new devnet designed specifically for branching a working network with multiple nodes. The devnet simply “copies” the running network with the same state, history and chain ID.
Virtually a copy of the underlying network allows developers to test any new updates or features on a blockchain that functions much like the Ethereum network.
The Ethereum network is now just two steps away from the merger that was previously “postponed.” Judging by the graph, we are now in the stage of testing the Klin network and implementing shadow forks.
The next step is the release of publicly available test networks and Fork clients, which will be tested by just about anyone who wants to participate. At the end of the testing period, Ethereum developers will finally announce a date for the implementation of Merge on the main network.
Ethereum developers, including Vitalik Buterin himself, have repeatedly pointed out that the Proof-of-Work concept is obsolete and should no longer exist. In addition to having technical flaws and damaging the environment, it limits the network’s ability to implement new economic models at its core.
But while some users actively support Ethereum’s transition, others insist that the PoW consensus mechanism is a time-tested, stable algorithm that should not be changed to PoS because it will bring more risks than benefits.
Major networks in the cryptocurrency industry, such as Bitcoin, Monero and others, have been operating on the PoW algorithm since their initial development.