At block height #15050000, the mainnet Ethereum blockchain is scheduled to undergo the Gray Glacier upgrade, a crucial step in Ethereum’s transition to proof-of-stake. The upgrade is primarily intended to delay Ethereum’s difficulty bomb for an additional 700,000 blocks. As a reminder, the difficulty bomb is a mechanism for exponentially increasing Ethereum’s network difficulty, which will gradually force miners to stop processing ETH blocks via the current proof-of-work validation mechanism.
Currently, the estimated target date/time for the network upgrade is June 30 at 6:48 PM EST. The Coin Metrics team will be closely monitoring our system for any ETH or ERC-20 metric disturbances leading up to the Ethereum Gray Glacier hard fork. The timing of these changes may coincide with end of day metric calculations, and will likely impact metric availability for June 29-30. We are working to upgrade our systems ahead of time to avoid any outages. However, there still remains some uncertainty around the impacts this upgrade will have on ETH blockchain uptime/performance, which unfortunately falls largely outside of our control.
Reliability and uptime is a key concern for our infrastructure team, and we will continue making preparations to mitigate the impact of this upgrade on our data processing pipeline. However, we just wanted to share an advanced notice that unexpected effects of the hard fork may result in additional delays to our ETH/ERC-20 metric calculation. We appreciate your patience as we continue to implement these critical changes to our Ethereum node infrastructure.