The long awaited 'Byzantium' upgrade to the Ethereum network is announced for testnet deployment on September 18th. Dubbed as the 'next critical step' for Ethereum, it is the first of two substantial phases scheduled for the platform in this year's Metropolis update. The test phase will last several weeks before broader updates to the entire network are likely to take place starting sometime in October.
The second phase, called 'Constantinople', will be released later this year. It begins the shift towards Proof of Stake (PoS) for Ethereum, a major change from the current GPU mining Proof of Work technique for verifying transactions on the blockchain.
@coindesk
https://www.coindesk.com/metropolis-ahead-ethereum-developers-set-september-date-testnet-launch/
Read more about ETH Proof of Stake here: https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ
Nice post...
Upvoted..
Cheers~~~
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I heard that in the first Ethereum update that brings Proof of Steak only 1% of the blocks will be calculated via PoS, the rest is still PoW and they will scale that proportion slowly.
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