Everything you need to know about the Ethereum Arrow Glacier Upgrade
The Ethereum blockchain has regular updates to tide it over until Ethereum 2.0. The Arrow Glacier update is significant to users, stakers and crypto miners, and we will explain why in this article, along with everything you need to know about the upgrade.
First things first, instead of a traditional update where the aim is to make a product or service exponentially better by improving features and adding new benefits, this update is created to delay an upcoming blockchain disaster — AKA the ‘Difficulty Bomb’.
What is the Difficulty Bomb?
Ethereum’s users and stakers are continuously looking towards Ethereum 2.0 — the long-awaited new version where the Ether ecosystem moves from the Proof-of-Work (PoW) model to the Proof-of-Stake (PoS) model.
However, making this transition wasn’t enough for the developers. Instead, the developers created a ticking bomb implanted into the blockchain to ensure the network change happens. The purpose of the Difficulty Bomb is to slow down the network and destroy it if it remains as a PoW based blockchain.
At first, the effect wouldn’t be massive. Still, once the ‘detonation’ phase commences, the network is set to deteriorate. This means there will be mining difficulties, slow transaction times, high transaction costs, and ultimately freezing of the network.
The Arrow Glacier update was implemented on the 9th of December, 2021 and is seen as a relatively simple modification that pushes back the Difficulty Bomb for several months. But this does not mean that the Ethereum blockchain has now transferred over to the PoS model.
How will Ethereum’s Arrow Glacier upgrade impact users?
The Arrow Glacier update is necessary even though it won’t directly tackle the ongoing gas fee problem. This update will be the paving stone for the transition to Ether 2.0, which will be released in the latter half of the year.
Why is the PoS model preferred over the PoW model?
There has been a lot of criticism about the current PoS model. Ethereum has a high energy consumption when using the PoW model. The PoW requires miners to solve cryptographic puzzles to confirm and validate transactions. As a result, it negatively impacts the environment because of the computer power used. The PoS model that the blockchain plans on migrating to later this year will require less computing power since it is not based on having miners race each other to solve puzzles.
Why was the upgrade called ‘Arrow Glacier’?
To highlight the nature of the upgrade, which essentially is pushing back the tech ‘Ice Age’, Ethereum decided to go with a glacier name. A retreating glacier was chosen for this particular upgrade because the transfer to PoS is close!
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