Peckshield: ETH's Block Production May Need More than 19 Seconds

Peckshield: ETH's Block Production May Need More than 19 Seconds
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CoinNess has learned from the China-based security firm PeckShield that the Ethereum difficulty bomb was set to double the mining difficulty per 100,000 blocks. According to this rule, a difficulty upgrade will be ushered in before the Constantinople hard fork, scheduled at the block height 7200000. If calculated at an average speed of 17 seconds, the block 7200000 is expected to be upgraded on Feb 9, with the block production time being more than 19 seconds. Due to the overall mining difficulty of Ethereum is also affected by the mining difficulty of the previous block and the hash power of the entire network, the power of the difficulty bomb will be reduced by about one million times after the hard fork. Delaying the beginning of the difficulty bomb, its new difficulty will continue to double every 100,000 blocks, while its effect will be negligible within a few months. It is expected that after the hard fork, the block production time will return to about 15 seconds. For the reduction in ETH's daily production, PeckShield believes that the extension of Ethereum's block production time will not affect the development project of Ethereum 2.0. And the difficulty bomb is the designated development of the Ethereum, the reduction caused by the difficulty bomb and the Constantinople hard fork actually help decrease the coin's inflation rate. On the whole, the reduction in production will have a certain pulling effect on its price. Join CoinNess Here
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