Ethereum’s big proof-of-stake blockchain switch could happen on September 15th

Illustration by Alex Castro / The Verge

The developers of the network want to switch to a more efficient proof-of-stake system by the end of the year. When the network reaches a specific difficulty mark, they will submit a pull request to make the change, but it is not final yet.

It specifies the mining of a block where the old network ends and the new one begins.

| Mainnet | TBD | TBD | TBD |

| Mainnet | 58750000000000000000000 | September 15, 2022 | TBD |

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58750000000000000000000

— Tim Beiko | timbeiko.eth (@TimBeiko) August 11, 2022

This would change the system that underpins the second most valuable coin in the world, as well as a number of other criptoms and distributed apps that connect to the network in different ways. The final testnet, Goerli, has gone well enough to help narrow down a date for the live network, as there have been tests and shadow forks to try and identify potential issues already.

58750000000000000000000

— Tim Beiko | timbeiko.eth (@TimBeiko) August 11, 2022

Proof-of-work systems are used to execute secure transactions that allow for the trading of cryptocurrencies. Computers around the world connect to verify transactions, solve puzzles in a competition to mine blocks and earn money for their operators.

If proof of stake is used, it can reduce the amount of energy used by having miners lock up their own coins as security for the chance to verify transactions and face a penalty if their calculations don't add up.

The strategy of shifting the network over in September would put it outside of the three-month window that Chris proposed on the show.