A pre-release version of the Ethereum 2.0 chain went live on Tuesday, marking the first steps in the long journey to a PoS consensus mechanism.
- The foundation is currently working on a multi-stage migration to the PoS algorithm which will allow validators to create blocks by staking assets instead of mining.
- A shadow fork is a way for developers to test the upgrade before deployment.
- The move to the PoS consensus algorithm is expected to cut down on energy requirements and increase the number of transactions.
- The first stage of the upgrade, The Beacon Chain, went live in December of last year, and the next stage, The Merge, is expected to be completed by the third quarter of 2022.
- The shadow fork explorer site was down at midday Asia time on Tuesday but the network had processed around 1.8 million transactions with an average block generation time of around 13.8 seconds.
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