Ethereum transition to proof of stake will have to wait

Many people were expecting the Ethereum transition to proof of stake this June, but the team postponed the event. However, Ethereum developers reported that final tests before the protocol transition were a success.

This is one of the most expected transitions because will basically replace the energy-intensive miners with the ETH stakers. This will finally reduce Ethereum’s high gas fees. 

Ethereum is known for delays in the project and looks like some users are tired of it. Now, crypto users pay $10, $50 or even $150 per transaction and this is why Ethereum needs an upgrade in order to make the blockchain more scalable.

Currently, ETH users can go to other smart contract platforms to make the same transactions for way less money. Even so, there are people who consider Ethereum a better platform and are willing to pay a premium price to use it. So high fees are not necessarily a weakness.

It won’t be June, but likely in a few months after. No firm date yet, but we are definitely in the final chapter of PoW on Ethereum

Said Tim Beiko

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