The developer of the company announced on 20th that preparation of the new code accompanied with the specification change in the Ethernet network consensus algorithm was completed.
This specification change is proposed in the Ethanolium Improvement Plan (EIP 1011) and is a long-term plan to shift from the mining method to a more environmentally friendly method, placing emphasis on conventional energy. Currently, at the Enterprise, “proof-of-work (PoW)” is adopted for approval when adding blocks to the blockchain on the network and this proof is proof by PoW, that is, proof by working, mining, It requires more mining energy to prove.
However, in this plan, ultimately we will store the Enterprise in a special wallet and take risk of losing the asset if we do wrong, that is to say we will lower the value if you do wrong “proof — of — stake (PoS) “aiming at the transition. The plan name for transition to this PoS is called Casper.
Since this system shifts from PoW to PoS, it adopts a hybrid type hybrid system that combines PoS and PoW and gradually shifts to PoS. However, it is impossible to compatible with existing Ethernet software, whether it is a hybrid system or not, so a hard fork is required. Since it is a migration based on this hard fork, implementation seems to be still ahead.
Author: Marko Vidrih @cryptomarks