Ethereum Difficulty Bomb Delayed Again, AIverse Wants to Build a Better Future With Consensus

Ethereum Difficulty Bomb Delayed Again, AIverse Wants to Build a Better Future With Consensus

By Aiverse.ai | AIVerse.ai | 22 Sep 2021


With the steady progress of ETH 2.0 development, the core Ethereum developers, including James Hancock and Tim Beiko, have agreed to delay the deployment of the Ethereum-3554 proposal (also known as the Difficulty Bomb) from July 2021 to December 1, 2021.

This is the fourth time the Ethereum team has delayed the difficulty bomb. The first upgrade was in Byzantium in October 2017, the second in Constantinople in February 2019, and the third in January 2020, when the difficulty bomb was delayed to block height of 4 million blocks.

The Ethereum “Difficulty bomb” is a piece of code that Ethereum developers embedded in 2015 to artificially slow down the launch of Ethereum by gradually making blockchain mining harder. This mechanism was designed to make a dramatic shift from Ethereum to proof of equity algorithms.
Ethereum currently uses the same energy-intensive PoW consensus mechanism as Bitcoin. However, once upgraded to ETH 2.0, Ethereum will no longer rely on energy-intensive mining machines but will use greener proof of claim to achieve sustainable development goals.

Blockchain and cryptocurrencies have grown rapidly over the past decade, with the concept beginning to challenge existing large players in sectors such as finance, technology and consumer goods, Ethereum co-founder Vitalik Buterin said in an interview with Bloomberg on August 19. While traditional companies like Facebook, Twitter, JPMorgan and Goldman Sachs are working hard to incorporate blockchain into their businesses, blockchain technology, in particular, poses a major threat to Facebook, Twitter and other social networks, as established companies eventually lose out to “upstarts.” Vitalik Buterin also looked into the plans of the Ethereum network, saying that he hopes Ethereum will be able to run the Metaverse in the next 5–10 years.

The Metaverse seems to be a combination of network, game and social interaction. In essence, it is a joint construction and experience of infinite kinds of goals. The process of participation will be as pleasant, artistic and non-homogeneous as possible, so that life will constantly feel the joy of creation and welcome the baptism of literature and art in the new dimension.

Computing is the most important infrastructure for building the Metaverse. The virtual content, blockchain networks and artificial intelligence technologies that make up the Metaverse are all supported by computing. POW relying on computing is the most widely used consensus mechanism of blockchain at present, and the decentralized value network needs computing to guarantee.

The amount of computation used in AI training has increased more than 300,000 times in the past six years. With the size of the computing industry expected to exceed $2 trillion by 2023, the industry has reached a critical point where AI computing will become mainstream.

The developers of AIVerse argue that achieving a high-precision, intelligent Metasverse will require the integration of high-performance and idle hardware from around the world to build the infrastructure for a millionfold increase in computing.

AIVerse is the world’s first underlying service public chain that highly integrates Metaverse, artificial intelligence and blockchain. The distributed artificial intelligence computing network constructed by it provides unlimited AI computing for Metaverse, which can accelerate the realization of Metaverse’s full truth and intelligence.

In the field of AI computing, both the growth of data scale and the diversification of data forms are far beyond the current processing and computing capabilities. Architecture innovation will be the main driver in the next decade, with heterogeneous computing bringing exponential scaling. After commercializing traditional architecture AI computing, AIVerse will continue to integrate different hardware architectures and software programming frameworks to realize the explosion of AI computing.

Only the progress of consensus mechanisms can support the healthy development of blockchain. AIVerse’s computing power has made breakthroughs in the energy-saving application, Tokenomics and other aspects to create greater social value. Before the commercial application of computing lease, the random polling verification mechanism is adopted to confirm the online and real computing power status of hardware equipment, which greatly reduces the physical energy consumption.

Different hardware of the same host provides AI, CPU, GPU, memory, storage, bandwidth and other different weights of computing. In the future, mobile phones with high-performance AI computing ability can also participate in computing, and AI computing will be rented for AIVerse ecological application on demand. The more dispersed nodes and larger the scale, the lower the cost of computing power. The cost is expected to be 4–20 times lower than the commercial price on the market, significantly improving the competitiveness and carbon neutrality of the parallel universe ecological project.

Shortly, AIVerse will contribute as much to the metaverse as Ethereum did to the blockchain, and every step forward of AIVerse will herald the overall progress of the Metaverse.

Only the progress of consensus mechanisms can support the healthy development of blockchain. AIVerse is willing to work hand in hand with people of a common vision to comprehensively drive the development of the Metaverse.

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