Average Time For Ethereum Blocks Extraction Drops To 12.5 Seconds
The Ethereum network has fixed a record low average time, 12.5 seconds, for blocks mining, although it has been 21 seconds until recently, Trustnodes reports.
Time has declined against the recent hard fork Constantinople, due to which it became possible to delay the launch of the difficulty bomb in the system. The difficulty bomb algorithm provides an exponential increase in the complexity of the blocks mining, and over time, the complexity may increase to a level when mining becomes almost impossible.
When the total computing power decreases, the cryptocurrency mining takes longer time, but as the hashrate increases, the complexity level drops, although only until the next recalculation of the mining complexity.
Ethereum developers are planning to introduce the Proof of Stake (PoS) algorithm into the system instead of the Proof of Work (PoW) algorithm. This process is likely to take a significant amount of time, so a period of parallel operation of the two algorithms is possible.
The launch of the difficulty bomb on the Ethereum network has been postponed twice already due to the delay of the transition to PoS. The first such case caused a decrease in the average block mining time to 13.5 seconds, after which it stabilized to 14-15 seconds.
As previously reported, the Ethereum network successfully implemented the Constantinople hard fork in block 7280000. At the same time, the Petersburg hard fork, created to disable the EIP-1283 protocol, was activated in the network.