What is Ethereum Gray Glacier Upgrade?
- The Ethereum Gray Glacier network upgrade was carried out on 29 June 2022, at the 15050000th block of the Ethereum (ETH) network. It was launched in order to delay the Ethereum network’s expected Difficulty Bomb.
- As the number of miners seeking Ethereum increases, mining operations become more costly and slower. This ‘Difficulty Bomb’ is the point at which the network difficulty level reaches a point where the process of verifying transactions in blocks is near impossible.
- The Ethereum Gray Glacier upgrade includes EIP-5133. An EIP (Ethereum Improvement Proposal) are suggested new network standards that can be discussed and voted on.
- With the Ethereum Gray Glacier upgrade, the Difficulty Bomb on the network is now expected to come in September 2022.
- Updates on the Ethereum network are intended to make the transition to Ethereum 2.0 as seamless as possible.