Before the fork, it took approximately 17 seconds to complete each block. Now, the duration is only 12.69 seconds.
Recent reports about the Ethereum platform revealed that after the Muir Glacier fork in Ethereum the processing time per block was reduced by 25 %. According to statistics, the duration of the process went from 17 seconds to 12.69 seconds.
As Bitcoin and cryptocurrency watchers said about Bitcoin, this could be “the year of Ethereum” too. This, despite the “bad year” that Ethereum had in 2019. Now, everything indicates that they are determined that 2020 is their year.
Representatives of Ethereum do not want to waste time to improve the performance of the cryptocurrency.
The success was noted as soon as the new update was carried out. After the Muir Glacier occurred on January 2, Ethereum customers began to see the difference. The most important of the new differences was the reduction in processing time per block.
Before the fork, it took approximately 17 seconds to complete each block. But, after Muir Glacier, this time was reduced by 25 %, making the processing last only 12.69 seconds.
The Muir Glacier fork, the last fork of Ethereum, not only helps reduce time, but it is also likely that Ethereum’s supply will grow by approximately 25 %.
The total amount of tokens removed after the fork increased from 10,000 Ethereum (ETH) to 12,000 ETH. Experts expect the issuance to be established around 13,500 ETH.
Inflation Could Influence
Despite the positive aspects such as the acceleration of the processes of Ethereum, and although all seem good news, there are still a few factors that should be taken into account. One of these aspects is the inflation rate.
Some experts talked about this aspect, according to what they think, the inflation rate is expected to be a set at around 5 % per year.
However, it is believed that inflation will increase again in the summer of 2020, as long as the hybrid PoS is launched. They say that after this, the inflation rate will stabilize in mid-2021.
A Hard Road for Ethereum
Currently, Ethereum is enjoying a small victory in its history. But with this success, and now the acceleration of the processes, it takes another step towards Serenity, the update that, in theory, should change the future of the cryptocurrency.
However, the history of this digital currency has been full of stumbling blocks and delays.
According to local news, it is assumed that the cryptocurrency had to change to PoS several years ago. Muir Glacier is working as a tool to encourage investors to bet on ETH. In this way, the speed with which Ethereum develops is encouraged to increase.
For now, the transaction from PoW to PoW (Proof of Work to Proof of Work) is a complex situation. Maybe it is normal for Ethereum, as a pioneer in the area, to have some delays and problems. But, despite this, the developers are confident that they will eventually achieve their goal.
By María Rodríguez