By Leah Hutton (Luxembourg)
The recent statistics revealed that the block time of Ethereum is lessened by 25% after the launch of Muir Glacier’s hard fork that happened two days ago. The Eth block time is reported to be happening from 17 seconds to 12.69 seconds.
The blockchain of the Ethereum is under the various developmental stages as two hard forks were reported to be launch soon. Now, it is observed that the time to complete blocks is reduced by 25 %.
Block Time Reduced because of Muir Glacier
Some days back, the time to complete block was 17 seconds on Ethereum blockchain. But with the launch of Muir Glacier, the block time is shrunk to a great extent that ultimately leads to the postponement of the time bomb. The block time now happening in the time of approximately 12.69 seconds.
There will be definite benefits for this change as the mining process will become easy. However, it will also result in an increase of Ethereum miner’s reward. It is interesting to know that the number of coins after the delaying of the time bomb increased from 10,000 Eth to 12,000 Eth.
Overall, we can say that it is very beneficial for the Ethereum blockchain and for the mining of Eth coins. The inflation rate will also affect this as it puts the inflation rate at 5%. And the inflation rate said to be more surge due to the launch of hybrid PoS in 2020.
PoS will stabilize inflation at 0.22%
The developers have a program to launch the full PoS before the time bomb will again happen. The PoW algorithm will be then reduced by the PoS algorithm. The new algorithm will also decrease the inflation rate from 5% to 0.22%.
But the plan for the new algorithm is still the assumption and will take time to come into practical shape. The switch from PoW to PoS will stabilize the inflation rate at 0.22%.
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