Ethereum's Arrow Glacier network upgrade delays the network's difficulty bomb until June 2022. Many previous updates have also extended the deadline for the difficulty bomb. The difficulty bomb will, by design, make mining on Ethereum uneconomical and difficult to do. This feature motivates the development of Ethereum 2.0 and will force miners to change over to the new Proof of Stake blockchain.
The update contains one Etherereum Improvement Proposal (EIP) delaying the difficulty bomb. An EIP is a proposed change created and reviewed by the Ethereum community. Arrow Glacier is particularly exciting as it looks to be the last extension of the difficulty bomb before Ethereum 2.0's release.
There is still a while to go until the release of Ethereum 2.0. But in the meantime, regular updates happen to keep the blockchain on the correct path. While the Arrow Glacier update won't be a noticeable change for the average user, it's actually incredibly important. In fact, the network could end up almost unusable without it. Let's look at why and what it means for users, stakers, crypto miners, and the upcoming Ethereum 2.0.
What is the Ethereum Arrow Glacier upgrade?
Arrow Glacier is extremely similar to the previous Muir Glacier upgrade in January 2020, which also delayed the time bomb. They both contain only one Ethereum Improvement Proposal (EIP) that pushes the "ice age" back. The Constantinople, Byzantium, and London updates also included extensions to the difficulty bomb.
What is the Ethereum difficulty bomb?
2. To force miners to upgrade to the new PoS blockchain, as they will not be able to keep mining Ether (ETH) on the old PoW version of Ethereum. This will prevent the creation of two conflicting Ethereum networks through a hard fork.
What is an Ethereum Improvement Proposal (EIP)?
an EIP can propose any improvement or change to Ethereum. Anyone can create an EIP, which the Ethereum community, a board of editors, and Ethereum developers review. To be included in an update, the EIP must pass the approval process. Each EIP contains the technical requirements for a particular change according to a specific EIP format. We briefly mentioned Arrow Glacier contains only one EIP, in this case EIP-4345. Its only goal is to extend the time before Ethereum's mining ice age.
How will Ethereum's Arrow Glacier update affect me?
Although Arrow Glacier is a small update, it's a significant one. Without it, the network would prematurely become too costly to mine and slow to use. It's also a fairly exciting one for the Ethereum community. If it happens to be the last extension to the difficulty bomb, Ethereum 2.0 could be here as soon as June 2022.