Vitalik Buterin announces the date of Ethereum’s transition to the «green blockchain»

During the Ethereum Developer Summit in Shanghai, ETH co-founder Vitalik Buterin said he expects the second largest blockchain to switch to the Proof-of-Stake consensus algorithm in August. The launch may be postponed to October if developers encounter some difficulties.

One of Ethereum’s public test networks, Ropsten, will be updated on June 8, which will be an important milestone before the transition to Proof-of-Stake. By simulating a real update of the main network, developers will be able to determine whether the existing blockchain chain is ready for PoS.

The long-awaited transition of Ethereum to Proof-of-Stake could be a turning point for the cryptocurrency industry, as it will significantly reduce the energy consumption of the second largest blockchain.