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Byzantium Ethereum

Ethereum Updated - Moving To Byzantium | Genesis Mining

Ethereum Updated - Moving To Byzantium | Genesis Mining

One of the most interesting things about the Ethereum Blockchain , is that its core software allows developers to create Smart Contracts which are run in computers around the world. And just like your tablet, smartphone or laptop need to be updated every once in awhile, so does the Ethereum software. At first there was only Metropolis, the code name used to describe Ethereums next big update which was supposed to bring better scalability, privacy and robustness to the network. Delays in its development process and unexpected hacks to the network forced the development team to split the Metropolis update into two phases: Byzantium and Constantinople. While the launch date for Constantinople has not yet been defined, Byzantium was set to be launched through a hard fork triggered with the arrival of block 4,370,000 . This happened last 16th of October at 05:22 +UTC. Unlike the SegWit drama back in August which resulted Bitcoins hard fork and the creation of Bitcoin Cash, Ethereums Byzantium update went smoothly and without major events. Byzantium is a mostly under-the-hood update, meaning that end users will notice close to nothing when using their Ether in their day to day transactions. Through the implementation of 9 Ethereum Improvement Protocols (EPIs) , the Ethereum Foundation is taking its blockchain to a whole new level. Byzantium focuses on three things: giving developers new tools to develop better smart contracts, giving miners a better ecosystem in which to carry out their activities and lastly, laying the groundwork for the Constantinople update. Smart contract developers which have updated to Byzantium now have four new opcodes designed for the Ethereum Virtual Machine which should ease their development activities. Moreover, theyve been treated to precompile Continue reading >>

Coinbase | Eth Byzantium Fork Faq

Coinbase | Eth Byzantium Fork Faq

This is a planned upgrade to the Ethereum network. We do not expect any impact to customers. The upgrade to the Ethereum network --codenamed Metropolis--is split into two stages. These two stages will be released one after the other: Byzantium and Constantinople. Byzantium will be released with block # 4,370,000, which is estimated to occur between 5:00 a.m. and 6:00 a.m. PT on Monday, October 16, 2017. What technical changes are included in Byzantium? Improvements to blockchain logic for security (uncle blocks) Additional command options for smart contracts As the Ethereum network grows, the development team periodically adds new features that make the underlying technology more secure and useful. These upgrades happen through the process of whats called a "software fork. Computers running the Ethereum software update their copy of the software to the new version in order to take advantage of the new features. The Byzantium release is part of a schedule of updates that have been planned for a long time. How will this affect me as a Coinbase/GDAX customer? The day before the fork and for a short time after, we will temporarily increase the number of confirmations required for incoming ETH transactions. Incoming ETH transactions will remain pending longer than normal before they become available in your account. Outgoing ETH transactions will not be affected. Continue reading >>

Byzantium Hf Announcement

Byzantium Hf Announcement

The Ethereum network will be undergoing a planned hard fork atblock number 4.37mil (4,370,000), which will likely occur between 12:00 UTC and 13:00 UTC onMonday, October 16, 2017. The Ropsten test network underwent a hard fork on September 19th (UTC) at block number 1.7mil (1,700,000). A countdown timer can be seen at . Download the latest version of your Ethereum client: What if I am using a web or mobile Ethereum wallet like MyEtherWallet or Jaxx? Ethereum websites and mobile applications that allow you to store ether and/or make transactions are running their own Ethereum client infrastructure to facilitate their services. If you use a third-party web-based or mobile Ethereum wallet, your wallet provider may need to update for the hard fork. It is recommended that you check with them to see what actions they are taking to update for the hard fork and if they are asking their users to take other steps. A hard fork is a change to the underlying Ethereum protocol, creating new rules to improve the system. The protocol changes are activated at a specific block number. All Ethereum clients need to upgrade, otherwise they will be stuck on an incompatible chain following the old rules. What happens if I do not participate in the hard fork? If you are using an Ethereum client that is not updated for the upcoming hard fork, your client will sync to the pre-fork blockchain once the fork occurs. You will be stuck on an incompatible chain following the old rules, without replay protection against the main network. Old clients will be able to construct transactions, but will not be able to see the effects of those transactions. What is Metropolis, Byzantium, and Constantinople? Metropolis is a planned Ethereum development phase that includes two hard forks: Byzantium and Constan Continue reading >>

What Is The Byzantium Hard Fork In Ethereum?

What Is The Byzantium Hard Fork In Ethereum?

What Is the Byzantium Hard Fork In Ethereum? By Rakesh Sharma | Updated March 7, 2018 6:20 AM EST How Coinfloor's Bitcoin Futures Differ from CME, CBOE Last year, ethereums cryptocurrency, ether, skyrocketed. (See also: Ethereum'sPrice Increases After Hard Fork Implementation .)Part of the reason for this was the promise of smart contracts on its blockchain. Ether investors are envisioning a future where smart contracts become the standard way to transact for multiple industries. In their enthusiasm for that future, however, the same investors tend to forget that ethereum is still a nascent technology. Its blockchain went live less than three years ago, on July 30th 2015, and is still a work in progress. As such, ether has yet to scale its processing and transaction power. The Byzantium hard fork is an update to ethereums blockchain that was implemented in October 2017 at block 4,370,000. It consisted of nine Ethereum Improvement Protocols (EIPs) designed to improve ethereums privacy, scalability and security attributes. (See also: Why The EthereumDAO Is Revolutionary .) Per ethereums roadmap, four live releases of its network are planned. The first one was called Frontier and released in July 2015. It was considered a beta release for developers to experiment and develop decentralized apps. The second one was called Homestead, and was released in March 2016 to stabilize the platform. The third one, called Metropolis live release,consists of two parts andis the most significant one so far because it represents a significant evolution of ethereum into mass acceptability because of the nature of its changes. (See also: Metropolis Hard Fork Rolled Out .)The Byzantium hard fork was part of the Metropolis live release. The fourth and final upgrade to ethereums network is ca Continue reading >>

Ethereum Hard Fork Byzantium Launches Without A Hitch, Ether Price Up

Ethereum Hard Fork Byzantium Launches Without A Hitch, Ether Price Up

Ethereum Hard Fork Byzantium Launches Without A Hitch, Ether Price Up Ethereum completes its fifth hard fork, Byzantium, with a fraction of the fuss of Bitcoin. Ethereums (ETH) troubled but uncontentious Byzantium is officially here as the cryptocurrencys fifth hard fork. As creator Vitalik Buterin celebrated with other developers Sunday, Byzantium fought off last-minute bugs and calls for delays to have a stable issuance. Hard fork celebration! pic.twitter.com/mL1ZyJOYeA Vitalik Buterin (@VitalikButerin) October 16, 2017 The move was notable in its lack of contention, with no significant community arguments resulting from Byzantiums creation. Similarly, ETH prices remained relatively stable both before and after the forks execution, rising around $40 October 13 and maintaining new levels since. This takes ETH towards the upper end of its price spectrum, which this year saw all-time highs of around $410 and a July low of $146. Despite the frenetic growth of investment in Ethereum this year, Byzantium is part of a package of improvements to the protocol that has been in development since 2015. Known as Metropolis, its roadmap currently extends to an unknown date in 2018, when a further hard fork, Constantinople, will activate. Metropolis is a planned Ethereum development phase that includes two hard forks: Byzantium and Constantinople. Byzantium is occurring at block number 4.37mil. Constantinople does not currently have a release date, but is expected in 2018, a blog post from late last week confirms. Continue reading >>

Bitcoin Price Cracks $5,700 But Ethereum Wanes After Byzantium

Bitcoin Price Cracks $5,700 But Ethereum Wanes After Byzantium

Bitcoin Price Cracks $5,700 but Ethereum Wanes after Byzantium Join our community of 10 000 traders on Hacked.com for just $39 per month. The crypto markets have exhibited mixed performance during the early portion of the week. The bitcoin price continued to hover near its all-time high on Tuesday, climbing just enough to crack the $5,700 barrier. The ethereum price, meanwhile, lost ground following the successful deployment of its much-anticipated Byzantium hard fork. Altogether, the markets rose about $1.5 billion for the day, although the non-bitcoin market cap fell by about $1 billion. Yesterday, the total crypto market cap was $172.4 billion, This value declined throughout the day along with the bitcoin price briefly dipping as low as $169 billion. However, the markets saw a significant bump at 6:00 UTC on Tuesday, enabling them to climb to a present value of $174 billion. Since surpassing the $5,000 mark last week to set a new all-time high, investors have been watching the charts with anticipation to see whether the bitcoin price would hold above this historic level or contract to a lower threshold. Thus far, bitcoin has managed to avoid a pullback. Despite dipping below $5,500 on several occasions, the bitcoin price has consistently recovered to the $5,600 mark.On Tuesday, the bitcoin price extended this recovery a bit further, climbing above $5,700. At present, the bitcoin price is trading at a global average of $5,733, which translates into a $95.3 billion market cap. Several analysts predict bitcoin could rise into the $6,000 to $7,500 range by the end of the year, but its short-term trajectory will be heavily dependent on the outcome of the contentious SegWit2x hard fork . The ethereum price broke out of its slump in the days immediately preceding the activ Continue reading >>

Ethereum Executes Byzantium Blockchain Software Upgrade - Coindesk

Ethereum Executes Byzantium Blockchain Software Upgrade - Coindesk

Ethereum Executes Byzantium Blockchain Software Upgrade At 05.22 UTC, the fifth hard fork to occur on ethereum, the second largest cryptocurrency by market cap, enacted a batch of ethereum improvement protocols (EIPs) designed to enhance the platform. The price per dollar of ether oscillated wildly in the run up, before rising over 2 percent following activation to $348, according to CoinMarketCap data. First introduced in the ethereum roadmap in 2015 under the name of Metropolis, that large-scale upgrade encountered some substantial delays, leading it to be broken into two phases Byzantium and Constantinople (the latter still having no formal release date). As Byzantiumwas a planned fork with minimally contentious changes, there's been very little disagreement among the community about the merits of the code changes included in the upgrade. However, the fork is still notable in that it's ethereum's first major upgrade since interest in the technologyskyrocketed this year, which has been largely correlated to the popularity of ICO tokens launched using ethereum's ERC-20 token standard . The process was at times a little sticky, though, with ethereum developers encountering some pretty nasty surprises in the run-up to the deadline. Over the last few days, Byzantium-enabled ethereum software was continuously retracted due to critical bugs found in the code. Developers pushed out corrections just in time but not without seriously considering postponing the fork. According to blockchain analytics website Ether Nodes, nodes running faulty software are currently 65.3 percent Geth and 30.4 percent Parity , the two main ethereum clients. As previously detailed by CoinDesk, the faulty software could cause a consensus issue , leading the network to partition, or expose the platf Continue reading >>

Byzantium Hard Fork Activates On Ethereum Network

Byzantium Hard Fork Activates On Ethereum Network

Byzantium Hard Fork Activates on Ethereum Network Join our community of 10 000 traders on Hacked.com for just $39 per month. Ethereums Byzantium hard fork went into effect Monday morning, initiating the first phase of the platforms latest protocol upgrade. The Byzantium fork is considered to be the first half of Metropolis, a protocol upgrade that has been planned since 2015. It introduces nine ethereum improvement protocols (EIPs) designed to enhance the networks privacy, scalability, and security. The second phase Constantinople does not yet have an official release date but is tentatively scheduled for 2018. At 5:22 UTC, block 4,370,000 was mined, officially activating Byzantium. This was the fifth time the Ethereum network has undergone a hard fork, the ethereum price has appreciated more than 3,000% since the networks last hard fork , which occurred in November 2016. Consequently, there was much more at stake market cap-wise than at any previous hard fork. Hard fork celebration! pic.twitter.com/mL1ZyJOYeA Vitalik Buterin (@VitalikButerin) October 16, 2017 Developers cheered Byzantiums activation, and the celebration was particularly satisfying considering the obstacles the community had to overcome during the days immediately preceding the fork. Most notably, testers were still finding software bugs as recently as October 14, leading to calls to postpone the hard fork.Moreover, although this fork was not contentious, there were fears that some miners would continue to mine on the old blockchain, potentially leading to a blockchain split and creating a new currency. Nevertheless, the hard fork was activated as planned, and so far the transition appears to have been successful. At the time of writing, average block times had fallen below 20 seconds, and the network Continue reading >>

Understanding Byzantium & What It Represents To The Ethereumnetwork

Understanding Byzantium & What It Represents To The Ethereumnetwork

Understanding Byzantium & What it Represents to the EthereumNetwork Today, at 1:22AM ET, Byzantium was activated on the Ethereum Network. Byzantium is the first version of the Metropolis, Ethereums second major update. Given the breadth of changes proposed by Metropolis, the update was split into two distinct hard forks, Byzantium and Constantinople. A hard fork requires all participants of the network to update the software that they use to interact with the Ethereum blockchain. If a percentage of these participants refuses to update, two Blockchains are created and the network is split. Thankfully, as of 11:30AM ET, the Ethereum blockchain remains unified, and the majority of the network is using the update. Although activation appears to have been successful, there still seems to be some confusion as to what Byzantium represents. Below we will attempt to explain this update, and give our perspective on what it represents to the Ethereum Network. The main goal of the Byzantium update is to remove inefficiencies identified in the current version, incorporate improvements identified since the release of Homestead, and lay the foundational infrastructure for major projects currently being researched by the core development team. The update has been highly anticipated as it incorporates multiple Ethereum Improvement Proposals (EIPs) that have been developed and tested following the release of Homestead, Ethereums current version. Some of the changes being introduced by Byzantium include: 1) Instituting a Blockchain difficulty delay and a reduction in block rewards (EIP 649) Since the launch of the Ethereum Network, it was clear to the core development team that, for Ethereum to truly scale, it would have to change its consensus mechanism from Proof of Work to Proof of St Continue reading >>

Ethereum Blockchain Is Sailing To Byzantium Hard Fork Up And Running

Ethereum Blockchain Is Sailing To Byzantium Hard Fork Up And Running

Ethereum blockchain is sailing to Byzantium hard fork up and running Promises clearer user interaction and extra privacy The latest upgrade to the popular Ethereum blockchain protocol Byzantium went live today , adding additional privacy and performance features. Blockchains claim to offer users additional anonymity compared to standard systems because they're decentralised. Bitcoin is focused on cryptocurrencies, while the Ethereum network is built to run applications ranging from digital ledgers to video games. Most notably, the updated network adds new opcodes programmers can use to make the network easier to work with. One, called "revert", lets them respond differently to function execution errors. For example, if a function for requesting funds from someone failed, a message could appear saying the requester wasn't authorised or their daily limits were reached. "Revert" is activated for any Ethereum programs ("smart contracts") written in the standard Solidity language that were deployed before the blockchain switched to Byzantium, Ethereum developer Christian Reitwiessner told The Reg. Byzantium also adds opcodes for supporting future, post- devcon updates to the Solidity compiler such as sharing data of any size between smart contracts, or accessing data without changing the blockchain state. Elliot Shepherd, VP of technology at identitii (which has a blockchain database), told The Reg: "It's a shame that return values didn't make it into transaction receipts," but added, "the opcode changes look good, and should help us write clearer and safer smart contracts." Byzantium also adds native support for certain mathematical operations that developers could use to help verify encrypted transactions, called zero-knowledge proofs . This would add an extra layer of pr Continue reading >>

What Will Happen To My Ethereum In My Wallet When Ethereum Hard Forks?

What Will Happen To My Ethereum In My Wallet When Ethereum Hard Forks?

What will happen to my Ethereum in my wallet when Ethereum hard forks? The Ethereum has undergone a planned hard fork atblock number 4.37mil (4,370,000), which occurred onMonday, October 16, 2017. The Metropolis hard fork was a planned and highly awaited hard fork which contained some major upgrades for the Ethereum network. Since this hard fork was planned, and non-contentious, there should be no chain split and there is nothing you need to do to prepare as it will go by largely unnoticed by many who are not in-tune with the technical back-end of Ethereum. The purpose of Metropolis is to address scalability, privacy and safety. This hard fork will take place in two separate phases, Byzantium and Constantinople and will prepare the way for the future planned hard fork called "Serenity" which will allow for POW and POS. The "Byzantium" portion of the fork includes: zk-SNARKs or in plain English Zero-Knowledge proofs, increasing anonymity of transactions. Easier programming of smart-contracts with a gas adjustment for bill setting. Better security through 'masking' allowing users to determine addresses which they hold the private key. A mining adjustment called a 'difficulty-bomb' making mining exponentially more difficult. So what should you do to prepare for the upcoming hard-forks? In short, nothing; Exodus will take care of everything for users. However, like with any fork users should be cautious for 24 hours around the fork and not move ETH or ERC20 assets. The Ethereum and ERC20 tokens in your Exodus wallet are safe and will continue to function as they have in the past. Continue reading >>

Byzantium - Ethereum's Hard Fork Explained | Crypto Briefing

Byzantium - Ethereum's Hard Fork Explained | Crypto Briefing

At 5:22 UTC on October 16, block 4,370,000 was mined and added to the Ethereum blockchain, officially activating the Byzantium hard fork, an upgrade to the Ethereum software. Developers celebrated the highly-anticipated release, but many average users were confused about what exactly Byzantium was and what it accomplished. In blockchain development, fundamental changes to the software protocol are called forks. Soft forks are backward-compatible, enabling the network to stay intact as long as a majority of nodes upgrade to the new software. Hard forks, on the other hand, are not compatible with legacy software versions, so the blockchain will split into two different paths if some node operators do not upgrade to the latest version. This can potentially create a new cryptocurrency, which is what happened in 2016 when a minority group within the Ethereum community refused to follow the hard fork that returned funds stolen during the DAO hack. Byzantium is the fifth hard fork Ethereum has implemented, and it is designed to increase the networks privacy, security, and scalability. Specifically, it activates nine ethereum improvement protocols (EIPs), most of which will not be noticeable to the average user. That said, several EIPs are worthy of note. Some are directed at improving smart contracts by creating a way for developers to program planned contract upgrades, as well as making them more secure against cyber attacks. Others improve the networks ability to process transactions more efficiently and reduce the block reward for miners. The most exciting EIP prepares Ethereum for the integration of ZK-Snarks, a cryptographic innovation developed in collaboration with anonymity-centric cryptocurrency Zcash. Once implemented, this technology is expected to allow ethereum u Continue reading >>

Will Ethereums Byzantium Hard Fork Cause A New Coin To Form, Like With Bitcoin And Bitcoin Cash?

Will Ethereums Byzantium Hard Fork Cause A New Coin To Form, Like With Bitcoin And Bitcoin Cash?

The first part of Ethereums hard fork- Byzantium has officially launched on Testnet. Find out detailed information here: Firstly a hard fork is a software upgrade that introduces a new rule to the network that isn't compatible with the older software, so miners will need to switch over to the new upgraded version of Ethereum, a hard fork does not guarantee a brand new currency unless a substantial amount of miners continue to mine the old blockchain. There's already been a couple of hard-forks within Ethereum. When a hard fork happens, there's always the possibility of a new currency emerging if the chain splits due to disputes like the emergence of ETC and Bitcoin Cash with the Bitcoin blockchain. From what I understand, it's fairly certain that this fork will not result in a third Ethereum currency. Metropolis has been planned and there's no big controversy around it, not enough for miners to keep mining the old chain and split from the Ethereum blockchain. However if there was to be any major disagreements in the future causing a chain split then the only way you can receive the new coins is through holding Ethereum in a wallet that allows you to control the private key. MyEtherWallet.com - Free Ethereum wallet, allows you to print a paper wallet for cold storage. Ledger Nano S - Hardware wallet with BIP encryption that supports Ethereum plus hundreds of altcoins, also compatible with MyEtherWallet. Ledger Blue - Just like the Nano S but with a large color screen and additional encryption processes to isolate and securely store your coins, can also be used with MyEtherWallet. The same applies to any cryptocurreny that undergoes a chain split due a hard fork. Ethereum was the first coin to fork and split blockchains. The old blockchain is called Ethereum Classic. For Continue reading >>

Byzantium Hard Fork Locked In, Market Reacts As Ethereum Price Surges

Byzantium Hard Fork Locked In, Market Reacts As Ethereum Price Surges

Byzantium Hard Fork Locked In, Market Reacts as Ethereum Price Surges Join our community of 10 000 traders on Hacked.com for just $39 per month. On October 16, the Byzantium hard fork was locked in at block 4,370,000. Consequently, the price of the Ethereum networks native cryptocurrency Ether surged by over six percent. 1200 blocks into Byzantium so far so good. Difficulty almost fully readjusted, block times already back below 20s. Vitalik Buterin (@VitalikButerin) October 16, 2017 Benefits of the Byzantium Hard Fork and Recent Ethereum Updates As Mohamed Abedelmalik, the Executive Director of Columbia Blockchain Lab, explained in his recently released paper, the Byzantium hard fork is expected to provide significant improvements to the Ethereum blockchain network in terms of privacy, scalability, and smart contracts efficiency, through the integration of practical cryptographic systems such as ZK-SNARKs. In October, the development team behind Zcash led by Zooko Wilcox demonstrated the first practical use case of ZK-SNARKs in its anonymous and privacy-focused cryptocurrency. Since then, the Ethereum Foundation, the organization which oversees the open-source development of Ethereum, has continued to build applications and solutions around the cryptographic system to improve the underlying privacy measures of the Ethereum network. At this phase of development, the integration of ZK-SNARKs by the Ethereum development team will not be able to facilitate the settlement of completely anonymous or private transactions. But, Abedelmalik noted in his paper that the implementation of ZK-SNARKs through the Byzantium hard fork would provide the platform necessary to create anonymous transactions in the future. Abedelmalik explained: Four native contracts have been added that a Continue reading >>

What To Expect From The Byzantium Hard Fork

What To Expect From The Byzantium Hard Fork

What To Expect From The Byzantium Hard Fork A reminder to Etherians one and all; the Byzantium hard fork is around the corner. Fast approaching is the impending Byzantium hard fork, set to take place at block number 4,370,000 on the Ethereum mainnet. While Hudson Jameson had previously substantiated to ETHNews that the aforementioned block is expected to be confirmed on or around October 17, a recent update from the Ethereum Foundation more accurately indicates that the planned hard fork will happen between 12:00 UTC and 13:00 UTC, Monday, October 16, 2017, at which point, a number of so-named Byzantium Ethereum Improvement Protocols (EIPs) will be implemented . The Byzantium fork will be the fifth to occur on the Ethereum blockchain and is expected to be adopted without much trouble, given its long history of public facing development. As the first phase of the Metropolis upgrade to be rolled out, Byzantium will improve gas expenditures and network speed, resolve issues with executable distributed code contracts, and (of note to miners) delay the Ice Age difficulty bomb by 18 months while reducing the block rewards to three Ether in a bid to ween the ecosystem away from proof-of-work. It is a scenario in which miners are likely to see a slightly higher payout since blocks will be confirmed faster but at a diminished reward. Who will this upgrade affect most? In the short run, every Ethereum client needs to adopt the Byzantium EIPs for the fork to go smoothly. On October 11, Parity released an update that included a critical consensus-relevant fix pursuant to the fork. Miners and platforms utilizing disparate programming languages that interface with the blockchain must adopt the EIPs to maintain compatibility. The Foundation recommends that users download the latest v Continue reading >>

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