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There is important news from Ethereum Blockchain. The developers of the project announced the next upgrade, Altair, for October 27. ETH price is currently slowly recovering after crashing amid Chinese pressure. For these reasons, Ethereum investors can target the end of October.

Ethereum 2.0 is in preparation, its developers have confirmed the date!

The release of ETH 2.0 seems to be just around the corner with confirmation that the next upgrade, Altair, is coming in less than a month. Ethereum has completed a series of upgrades in preparation for its Blockchain’s PoS transition. Its developers confirm that Altair is now scheduled to take place on October 27…

Ethereum announces Altair upgrade before ETH 2.0

With ETH 2.0, the Ethereum network will fully fulfill its mission of being an efficient, universal and global scale platform. In addition, the network will continue to offer crypto-k security and decentralization at retail. Part of the transition process is Altair, Beacon Chain’s first mainnet, scheduled to take place during the 74240 period. Beacon Chain was developed to be compatible with elevated consensus.

Additionally, the upgrade will support the Ethereum Blockchain by improving “punitive parameters” to ensure k security. ETH developers outlined requirements for PoS blockchains to be as secure. According to the developers, penalties are needed to encourage validator liveness. Additionally, the developers talked about providing security in case of tail-risk (portfolio risk) scenarios. The proposed penalties are “inactive leak” and “hack” under the ETH EIP. Meanwhile, Ethereum’s team, Cryptocoin. com will share more information about the Altair version on October 4th.

In particular, there was a market crash that affected cryptocurrencies after China strengthened its ban policy on cryptocurrencies in the country. However, Ethereum has managed to make gains since then and is slowly recovering. Currently, Ethereum is trading at $3,009. In the last 24 hours, the second-largest cryptocurrency by market cap has gained nearly 3.41%.

China shuts down more than 10,000 mining rigs

As China continues its opposition to Ethereum, Chinese authorities have shut down more than 10,000 mining rigs. The action was carried out in Inner Mongolia by the China National Development and Reform Commission (NDRC). Reports indicated that the Commission had received notice of a crypto operation. Interestingly, the NDRC eventually confiscated 10,100 mining rigs. That’s why the Commission said it will pay attention to energy use levels to seize illegal mining double-dollars. The power consumption consumed by the raided double-dollarsic was approximately 1.104kW/h.

Amid the crackdown in China, Sparkpool, the world’s second largest Ethereum mining pool, is suspending its operation in the region. The Sparkpool pool has released an official announcement that new users in China will no longer have access to the mining pool. According to experts, the whole process of pressure on Ethereum discourages investors and affects the value of the cryptocurrency.


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