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On June 30, 2022, the Ethereum (ETH) blockchain activated the Gray Glacier, its latest system update. One of the key announcements from this update was concerned with the delay in detonating the “Ethereum Difficulty Bomb.” In fact, the Gray Glacier’s sole purpose was to postpone the bomb’s detonation by another 100 days.
In this article, we’ll look at what the Ethereum difficulty bomb is, why it’s necessary, and how its delay affects the Ethereum blockchain.
Since August 2015, starting from block 200,000, the Ethereum blockchain’s programming code has had an increase in mining difficulty built into it. The increase in mining difficulty level in turn leads to longer block times for solving the required puzzle solutions, which in turn leads to fewer ETH rewards.