The Ethereum Foundation has announced the launch of Kintsugi Merge Kintsugi Merge, with which the community can test the evolution of the crypto-currency. This phase is a crucial issue for Ethereum in view of the transition from a system of proof of work to a system of proof of stake.
Kintsugi is a test network, which operates in parallel to the main Ethereum blockchain. It could be considered as the beta version of Ethereum 2.0 working with the proof of stake system. “ The Kintsugi test network offers the community the opportunity to experiment with Ethereum as it will be after The Convergence and begin to identify issues […] Once the feedback has been taken into account, a final round of testing will be conducted. […] And after that, the next step will be La Convergence, and the transition from the main blockchain to proof of stake.”
A serious stop to mining soon?
Validation by proof of stake does not require answering a calculation, it requires validators to put some of their cryptocurrencies on the line, which ensures the good intentions of the validators. This is howit is obviously much less energy consuming and how it frees itself from the extremely complex calculations carried out in particular on the graphic cards.
Kintsugi is the last step before Convergence. If the tests are conclusive, this one should take place in the first part of the year 2022. This Convergence will mark a significant blow to mining given the size of the Ethereum crypto. It will not, however, definitively condemn miners since other currencies will be able to continue to be mined…but with a much smaller importance. This step has been awaited for a long time by the blockchain community but also by the buyers of graphic cards…