CryptoCoinsInfoClub.com

Ethereum Byzantium

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 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 >>

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 >>

By The Numbers: The Byzantium Hard Fork

By The Numbers: The Byzantium Hard Fork

Matthew De Silva October 18, 2017 9:40 PM Since the Byzantium hard fork went live on the Ethereum mainnet, there has been some concern about a lack of client upgrades. Whats happening now? As of publication, we are more than 14,000 blocks deep into the Byzantium hard fork, which went live on the Ethereum mainnet on October 16, 2017. As announced, the block reward has adjusted down from 5 to 3 Ether. The real concern is that a significant percentage of nodes have not upgraded their clients to versions that are compatible with Byzantium. Although 59.1 percent of nodes running Geth have upgraded to v1.7.2 or later, just 38.4 percent of nodes running Parity have upgraded to v1.7.6 or later. While Geth v1.7.1 is compatible with the Byzantium hard fork, it might be subject to a Denial of Service (DoS) vulnerability, which could cause the nodes to drop offline. Just three days after the Byzantium hard fork, its too soon to tell if other Ethereum forks could gain any traction. Prior to the hard fork, the price of Ether was hovering around $340, perhaps in anticipation of a bull run. As of publication, the price of Ether is now $305, more a reflection of market uncertainty than any indictment of Byzantium. Shortly before the fork, Parity Technologies, led by Gavin Wood, expressed concern. In a quality assurance technique for software called fuzzing, bugs were reportedly being discovered in Byzantium shortly before its release. Parity proposed delaying the fork until a period of two weeks had passed with no discovered bugs, a proposal that was rejected by other developers including Hudson Jameson . One of the most notable developments is that average block time has fallen substantially due to an adjustment to the difficulty formula. In the early part of October, the average bloc 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 >>

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 >>

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 >>

Ethereum's Byzantium Hard Fork Is Running Smoothly, Developers Say - Coindesk

Ethereum's Byzantium Hard Fork Is Running Smoothly, Developers Say - Coindesk

Ethereum's Byzantium Hard Fork Is Running Smoothly, Developers Say While it's still perhaps too early to deemethereum's Byzantium upgrade a success, developers indicate the software update,executed just hours ago , is running smoothly so far. Speaking to CoinDesk, unofficial release manager for Byzantium,Hudson Jameson, noted that the new software is now stable, and steadily rolling out across the distributed network, a fact he said can be attributed to "the hard work (of) developers, usersand miners across the ethereum ecosystem." But while the impact on ethereum's infrastructure will be substantial, it looks like the network is undergoing an adjustment period. Currently, some blocks are being mined in as little as 1 second ,though others are dragging out to nearly a minute substantially longer than the long-time average of 25 seconds per block. Further, blocks are filling with relatively high numbers of transactions. That's good news for scalability, as ethereum can, in theory, continue to grow without slowing down the network. According to the ethereum fork tracker , mining on the old blockchain with the older ruleset has ceased. This is also positive news for ethereum, as it means a relatively low chance that a competing currency will be introduced, as happened last summer when a split produced the rival asset , ethereum classic. That said, according to ethereum developer Afri Schoedon, there's still a chance that someone is mining the old blockchain, but probably at very high cost. In the days prior to the fork, developers and node operators (such as mining pools) were given some last-minute toil, as faults found in Byzantium software led to continuous re-releases. The issues saw ethereum developers working around the clock to get the corrected software out on tim 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 >>

Go Ethereum - How Do I Know If My Private Net Is Using Byzantium? - Ethereum Stack Exchange

Go Ethereum - How Do I Know If My Private Net Is Using Byzantium? - Ethereum Stack Exchange

How do I know if my private net is using Byzantium? Is there a flag that is showing that Byzantium is actually enabled in my private network? This is the only thing I have found in my log at geth startup: INFO [10-26|01:10:40] Initialised chain configuration config="{ChainID: 1111 Homestead: DAO: DAOSupport: false EIP150: EIP155: EIP158: Byzantium: Engine: unknown}" But I am not sure if this data is meaningful. In your genesis config file, you should see config field, then set ByzantiumBlock to 0, like this and make sure you geth version is greater than 1.7.0, you can send a simple transaction to the private network, and getTransactionReceipt, if you see status field not root field in the receipt, then Byzantium fork is live. but my genesis file has been already created, and now I can not change it because it has accumulated some proof of work Nulik Oct 26 '17 at 13:09 I have tried to set Byzantium block to some number of few blocks in the future, when it is mined, nothing happens, I don't get Byzantium version. The returned value from getTransactionReceipt() is the whole transaction record. Do you have an example of how it looks on the console when you query the transaction receipt? Nulik Oct 26 '17 at 15:48 I have been debugging, and the problem is , even if I edit params/config.go and set Byzantium block to 0 or whatever, geth wont switch to Byzantium, it will only switch if you have it in the genesis, but I don't. So I think I will be hardcoding IsByzantium() function to return true , that's the only way I can think of. Nulik Oct 26 '17 at 22:51 I have hardcoded the function to true and it works, status=0x01 is now returned. But I don't know if this will create some problems with my blockchain. Apparently not, but you never know. Continue reading >>

The Ethereum Byzantium Hard Fork Explained - Metropolis Update

The Ethereum Byzantium Hard Fork Explained - Metropolis Update

The cryptocurrency market is preparing for a major shake in the next few weeks Bitcoin will go through another hard fork and so will Ethereum. The Ethereum Byzantium hard fork has been postponed by few weeks, but it is set to go live in less than a week. The upgrade is part of a multi-component update called Metropolis. At the moment the date is set around October 17, and the Byzantium code should be enforced around block 4,370,000. The hard fork results in all of the nodes being forced to upgrade to the new code, those which do not go through the update will not be able to use the current Ethereum network. So far Ethereum went through four hard forks, and only once it resulted in creating an alternative blockchain Byzantium has been outlined in the Ethereum roadmap as far back as 2015; the careful planning will unlikely be problematic. The upgrade will introduce nine key improvement protocols to the platform. The upgrade is designed to make the platform lighter and faster to run, improve the transaction speed, smart contract security and privacy. The few weeks delay came from Vitalik Buterin himself who did not want to rush any updates and wanted to be extra careful after a malicious attack on the Byzantium test net. Even though the attack did not cause any damage, it compromised the network and the expectation. Within next week, all major Ethereum clients will have to upgrade to Byzantium upgrade, to give the nodes enough time to update. It is crucial if any nodes are left behind, the blockchain will split and create different versions of the same platform. Members of the Ethereum network have been planning to switch from the proof-of-work to the proof-of-stake, but the transition will not be ready for Byzantium yet. However, the transaction speed will significantly 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 >>

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 >>

More in ethereum