#Ethereum’s Blockchain Is Once Again Feeling the ‘Difficulty Bomb’ Effect
Ethereum is being affected by what is popularly known as the “difficulty bomb” embedded in the code – and this month’s upcoming hard fork is expected to once again push its effects further into the future.The piece of code was originally created in an effort to create an incentive – a negative one at that – for miners and developers to manage the transition from proof-of-work consensus to proof-of-stake. In effect, the difficulty bomb as referenced back in 2015 by former ethereum CCO Stephan Tual raises the difficulty level of mining a block on the ethereum blockchain exponentially over time.The bomb began to “go off” so to speak last December after being delayed once in June 2017 and again in October 2017. The initial impacts of the code – though minor to start off with – are slowly but surely starting to become noticeable on the network, as the data shows.
About Ethereum (ETH): Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middleman or counterparty risk.The project was bootstrapped via an ether presale in August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss non-profit, with contributions from great minds across the globe.
Ethereum (ETH) is the 2nd largest cryptocurrency by market cap size. It is down 1.11% over the past 24 hours and is currently trading at $121.92. It can be bought with fiat dollars, credit cards, or debit cards on cryptocurrency exchanges such as Coinbase, CEX.io, and Changelly.