Vitalik Buterin, co-founder and leader of the Ethereum, has already been promised in 2015: Proof-of-Stake (PoS) is coming in 9 to 12 months.
28. July, 2015, just two days before the Start of the Ethereum Genesis block, is said to be a “Ethereaner”: “I had the impression that the change to PoS would be done fairly soon (~1 year).”
“It always takes longer than you expect”
In his reply, Buterin explained at the time: “Yes, the Plan is 9-12 months, taking into account Hofstadter’s law.”
This law States:
“It always takes longer than you expect, even when you take into account Hofstadter’s law.”
However, the Ethereum development team in 2015 or 2016 not worked Stake to Proof-of -. In 2016, the Slockit DAO and a little bit of Chaos, but even in 2017, there was not much focus on the PoS.
Since the middle of 2008, a Hybrid Version should come on the market, has been scrapped in a Surprise promotion. A new Blockchain should. until the end of the year or up to 3 January come, but this is still the only Hybrid-PoS and – what is even more important: you didn’t come on the market.
The estimate was then Q1 in the next year to Q2, with complete Proof-of-Stake is only to 2021 around probably.
That makes it months and not years – with a further interesting revelation from this period about the obvious relationship between block times and emissions. Buterin:
“We have promised in the agreement on the ether sale to keep the reward under 26,00% of the sold ether amount per year. At 60 M in Ether, the means 29,71 Ether per Minute. We assume 5 ETH per Block, 1 Block per 14 seconds and a Uncle Rate of 0.4, which corresponds to the terms and conditions under high load. So we can get to 30 ETH per Minute, which corresponds almost exactly to this Maximum. In the Ether of sale documents expressly a Maximum of 26,00%, and not exactly 26,00%, and I felt it was important to this promise, and 26% as a reasonable upper limit and not as an average to aim for. Under conditions of less stress, Yes, the reward will be a few percent lower.“
They had planned to be 13 seconds per Block, but due to the above, ICO’s promise to 15 seconds per Block change.
Randomly at the beginning of the year, were reduced for the block times from 15 seconds to 12 seconds per Block.
The difficulty of the bomb will now be kicked on new year’s day for two years by a Hard Fork out. These block times are reduced to a covert increase in the Ethereum inflation rate.