Vitalik Buterin (people don’t want to call themselves Vitaly), the creator of the largest alcoin by capitalization, said that the transition of the Ethereum network from the current Proof-of-Work algorithm to the new Proof-of-Stake will take place this August. He made such a statement during the summit in Shanghai, China.
This is far from the first news about a change in the algorithm, but now the terms have been announced by the direct creator. There is a possibility that something unforeseen may happen, and then the update will be postponed to the maximum from October 2022, but they will not pull any further. The Ether miners have very little time left for mining.
