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Ethereum Fork 2017

The Byzantium Countdown: What's Left Before Ethereum's Next Fork? - Coindesk

The Byzantium Countdown: What's Left Before Ethereum's Next Fork? - Coindesk

The Byzantium Countdown: What's Left Before Ethereum's Next Fork? The next major update to ethereum, the world's second largest blockchain by total value, is set to go live in less than a week. Part of a larger, multi-component upgrade called Metropolis , the so-called"Byzantium" code will be enforced at block 4,370,000 or in about four days according to current metrics as a hard fork . A common (yet controversial ) strategy for upgrading blockchains, this means the changes are required to be accepted broadly by all stakeholders on the ethereum blockchain. In this light, however, it's notable that the use of this mechanism in the past has had mixed results for ethereum. To date, the platform has conducted four hard forks , with only one resulting in the creation of an alternative blockchain, ethereum classic . Given the changes in Byzantium have been outlined in the ethereum roadmap as far back as 2015, it's unlikely it will prove problematic.With two major upgrades from Metropolis postponed, Byzantium is perhaps best seen as a conservative upgrade that will introduce nine key ethereum improvement protocols (EIPs) to the platform. In total, the changes are designed to make the platform lighter and faster to run, improving transaction speed, smart contract security and eventually perhaps, privacy . However, that said, there's still work to be done on the upgrade, with various stakeholders now entering the final stages of their preparations. As the shift toward Byzantium is dependant on the network nodes updating, the main focus in the days ahead will be ensuring the clients that offer software to nodes are ready for the upgrade. This means that startups responsible for overseeing clients need to ensure their software actuallycontains the EIPs that enforce the Byzantium 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 >>

Understanding The Upcoming Ethereum Hard Fork

Understanding The Upcoming Ethereum Hard Fork

Understanding the Upcoming Ethereum Hard Fork As cryptocurrencies mature, they go through a protocol change that requires all users to upgrade. This is what's expected with Ethereum's upcoming hard fork. As cryptocurrencies like Ethereum mature and become more mainstream in the investment arena, it is important to understand the meaning of "hard fork" and"split." That knowledge is especially timely, given that Ethereum is expected to go through a hard fork on October 17 . Earlier this year, we saw Bitcoin split and form Bitcoin Cash which was huge news and a historical event in cryptocurrency world. Now without confusing you too much, in the case of Ethereum, it's important to note: not all hard forks lead to splits, but all splits happen by hard forks. The hard fork expected with Ethereum later this fall is not contentious and is not expected to lead to a split, according experts. New cryptocurrencies usually occur when there's a signal for a new hard fork but there's no consensus -- so a significant enough portion of nodes and miners continue to mine the old chain, thereby introducing a situation with two currencies. For example with Ethereum, we have Ethereum (ETH) and Ethereum Classic (ETC). According to a source, the debate with the latest Ethereum fork is not really significant enough to say with 100% confidence that a new cryptocurrency will come from this, but for now, it's looming in the background. When does a hard fork occur? A hard fork is a protocol change that requires all users to upgrade , because it is not backwards compatible, meaning older iterations would not work as the blockchain advances. So if the protocol change is backwards compatible, it can be implemented as a soft fork. When it comes to most major Ethereal upgrades, they are done as hard fo Continue reading >>

Vitalik Buterin: Bitcoin More Likely Than Ethereum To Intentionally Fork In 2017

Vitalik Buterin: Bitcoin More Likely Than Ethereum To Intentionally Fork In 2017

Vitalik Buterin: Bitcoin More Likely Than Ethereum To Intentionally Fork In 2017 Join our community of 10 000 traders on Hacked.com for just $39 per month. Vitalik Buterin, co-founder of Ethereum, believes bitcoin is more likely than Ethereum to have an intentional split in 2017, according to a tweet he posted in response to a tweet about the United Arab Emirates choosing Ethereum over bitcoin for a real estate pilot program. Ragnar Lifthrasir, chairman of the International Blockchain Real Estate Association, had tweeted the UAE is being irresponsible by using Ethereum because it is too unproven, too mutable and unstable compared to bitcoin to be used as a real estate database. Past performance not indicative of future results; I actually think BTC is more likely than ETH to split in 2 in 2017 Vitalik Buterin (@VitalikButerin) December 30, 2016 Lifthrasirs comments touched on the proof-of-stake versus proof-of-work debate. Lifthrasir, in criticizing the UAEs decision, pointed to the exploit of the DAO , caused by a vulnerability in its smart contract programming language that allowed the removal of $145 million worth of Ether. Ethereum developers created a new network with new rules. Miners adopting the new version executed a hard fork on July 20, 2016. Such events showed a small group of individuals can make significant changes to Ethereum for investment-boosting or political reasons, Lifthrasir said. The hard fork created another problem because not all Ethereum miners accepted the changes and continued to mine the older chain called Ethereum Classic, causing the two chains to compete, Lifthrasir further noted. This created two databases. Hence, a real estate title application built on the earlier database could have two competing title claims, which Lifthrasir cited 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 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 >>

Ethereum Announces Metropolis Hard Fork Coming Late September

Ethereum Announces Metropolis Hard Fork Coming Late September

Ethereum Announces Metropolis Hard Fork Coming Late September The Ethereum Developer team has just released word that the Metropolis hard fork is set to occur in late September of this year. With all the hubbub about Bitcoin and Bitcoin Cash in the news, Ethereum has been overlooked by some. However, the Ethereum Developer team has just released word that the Metropolis hard fork is set to occur in late September of this year. The hard fork has been widely anticipated after the Ethereum road map for 2017 was released earlier this year. The map indicated that the coming release would contain some major upgrades for the platform. The announcement earlier in the year indicated a three to six-month window for release, and late September is right on the cusp of a full six months. While the timing is later than many had hoped, the news is a welcome encouragement for those seeking Ethereum upgrades. The new hard fork should enable some significant upgrades. First, increasing anonymity will come with new zk-SNARKs, or Zero-knowledge proofs. Users will be able to perform anonymous transactions at higher levels than in the past. Second, programming and smart contracts will be made far easier with the new upgrade, relieving some of the pressure on current programmers. Gas will also be adjusted for bill settling. Third, masking for security enthusiasts will allow users to determine the address for which they have a private key. This will increase security on the network, even against quantum computer hacking. Finally, the upgrade includes a Difficulty-Bomb intended to make mining exponentially more difficult. The bomb is designed to be an intermediate step in the transition from proof-of-work (PoW) to proof-of-stake (PoS) on the network. This has often been referred to as the Ethe Continue reading >>

Etherzero Team Cancels Plans To Hard Fork Ethereum

Etherzero Team Cancels Plans To Hard Fork Ethereum

In the world of cryptocurrency, hard forks are seemingly the new altcoins. More specifically, a lot of developers want to hard fork existing currencies rather than build their own coins from scratch. In the case of Ethereum, one of those hard forkswas known as EtherZero. However, this fork has been canceled due to a lack of community support and big trading platforms. Its a very interesting decision, although few people will mind that the fork will not happen after all. It is evident that Bitcoinwas subject to quite a few hard fork attempts in 2017. Bitcoin Cash and Bitcoin Gold are perhaps the most notorious ones, even though Bitcoin Gold is very different from both Bitcoinand Bitcoin Cash. It is evident that this way of creating currencies will affect altcoins in the future as well. While the concept of taking existing code and turning it into anew project is not uncommon, it seems developers are far too keen on creating hard forks and airdrops right now. Thats not a favorable course of action by any means, as most of these hard forks serve no purpose whatsoever. The first altcoin to have receivedsuch hard forks/airdrops is Ethereum. Given Ethereums position in the world of cryptocurrency, that is not entirely surprising. It is evident that people like whatthis project has to offer andwish to make a quick buck from introducing so-called hard forks. Moving away from the original codebase for no apparent reason usually means the new fork is just a money grab which serves no real purpose. This is very different from how Ethereum Classic was created, as this currency exists due to ideological differences between parts of the Ethereum community regarding the bailout of The DAO. The first major Ethereum hard fork which was set to occur in 2018 is EtherZero . Although most 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 >>

Ethereum Price Analysis - Network Slowdown Precedes Fork

Ethereum Price Analysis - Network Slowdown Precedes Fork

Ethereum Price Analysis - Network slowdown precedes fork Josh Olszewicz , 06 Oct 2017 - Bitcoin Price Analysis , Ethereum , Opinion Ethereum ( ETH ) now has a US$28 billion market capitalization , second only to Bitcoins US$72 billion. ETH is now the fourth largest digital cryptocurrency or asset by volume, below Bitcoin , Bitcoin Cash , and Ripple . ETH has been in a tight range for the past week with very negligible volatility. A decline in volume and volatility is very likely due to the upcoming Metropolis hard fork, the 3rd of 4 launch stages for Ethereum. At this point, investors and speculators alike may have decided to either hold or sell prior to the pending hard fork, while waiting to see how the upcoming changes are perceived and how they affect the network. A large addition to Ethereum after the Metropolis hard fork will be Zero-Knowledge Succinct Non-Interactive Argument of Knowledge or ZK Snarks, based on zero knowledge proofs, which allow for completely anonymous transactions. These have already been successfully implemented in the Byzantium code on the Ropsten testnet , thanks to help from the Zcash ( ZEC ) dev team. Difficulty and hash rate have returned to previous highs despite continued exponential difficulty adjustments, making ETH less and less profitable to mine. ETH will be changing to hybrid Proof of Work (PoW) and Proof of Stake (PoS), and eventually fully Proof of Stake. Casper will change the consensus algorithm allowing for PoS. Every 100th block will be mined via PoS. With a target block time of 15 seconds, this would create 57.6 PoS blocks per day. Due to scheduled difficulty adjustments, ETH will become increasingly unprofitable to mine, to a point where the PoW hash rate will decrease significantly. The mining reward will also be decreas Continue reading >>

Ethereum Hard Fork Happening Now - User Advice

Ethereum Hard Fork Happening Now - User Advice

Ethereum Hard Fork Happening Now - User Advice User advice as Byzantium activation draws near. The first half of the Ethereum Metropolis hard fork, nicknamed Byzantium , is happening on Monday at some point between 12:00 and 13:00 UTC. The fork is scheduled to take place at block number 4,370,000 . For those interested in watching the fork take place live, a countdown clock can be found here . The much anticipated hard fork contains a number of updates to the Ethereum chain including an addition of REVERT opcode, which permits error handling without consuming all gas, support for big integer modular exponentiation, support for variable length return values, and changes to the difficulty adjustment formula to take uncles into account. However, perhaps the most discussed upgrades include the successful addition of fully anonymous zero knowledge proofs (ZK-Snarks), and the delay of the difficulty bomb (nicknamed ice age) by a full year, as well as a reduction of block creation reward from five to three ether. Some have argued that the anonymity of the ZK Snark upgrade will create newfound adoption on Wall Street . 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 >>

Ethereum Worth Millions Of Dollars Gets Locked Up | Fortune

Ethereum Worth Millions Of Dollars Gets Locked Up | Fortune

An Ethereum hard fork may be in the future. Thats after a user of digital currency wallet Parity, which many use to store their Ethereum, effectively froze millions of dollars worth of the cryptocurrency on Tuesdayapparently by accident. The user accidentally triggered a flaw with an update to Paritys multi-signature wallets, according to the open-sourced wallet maker , which cut off all access to the funds they contained. This means that currently no funds can be moved out of the multi-sig wallets, Parity warned. We very much regret that yesterdays incident has caused a great deal of stress and confusion amongst our users and the community as a whole, especially with all the speculation surrounding the issue. Although its unclear how much has been cordoned off, early estimates from investors and cryptocurrency watchers put it between $150 million to $280 million. Update: To the best of our knowledge the funds are frozen & can't be moved anywhere. The total ETH circulating social media is speculative. Parity Technologies (@ParityTech) November 7, 2017 The Parity flaw, which affects versions of the wallets deployed after July 20, allowed the user to take control of a smart contract that included coded transaction instructions for multiple wallets. After making himself the owner of the contract, the user deactivated itthereby cutting off access to the ether within. (To reduce the burden on computers, Ethereum users usually deactivate the contract once theyre done with it, or self-destruct it.) The only way to re-activate the smart contract is to perform a hard fork that effectively reverses the work, wrote Patrick McCorry, a cryptocurrency researcher at University College London. Hard forks effectively create a new version of a cryptocurrency when a faction of users refu Continue reading >>

The Ethereum Platform Will Undergo A Major Upgrade In September

The Ethereum Platform Will Undergo A Major Upgrade In September

The Ethereum Platform Will Undergo a Major Upgrade in September Ethereum has announced a late-September release for a new update known as Metropolis. First announced in February, this update is expected to include a number of highly anticipated changes related to anonymity, programming, and security. We now have a timeframe for when one of the most anticipated events in the world of cryptocurrencies is going to occur. Last week, the Ethereum team announced that their Metropolis hard fork will take place toward the end of September 2017. The announcement comes roughly six months after the company revealed their 2017 Road Map and less than a month following bitcoins split into bitcoin and bitcoin cash . This fork will implement a number of changes and improvements, including higher levels of anonymous transactions, easier programming and smart contracts, and additional security in the form of masking, which will help protect users against hacking. The upgrade was expected to include a Difficulty-Bomb that would make ether token mining harder to perform, but according to the Ethereum team update, that will now be added as part of a second hard fork at a later date. The news of a implementation date for Ethereums hard fork is drawing a great deal of attention and speculation from industry experts , who arent certain how the market will react to the change. In the announcement post, the Ethereum team addresses this uncertainty, noting that prices could increase or decrease. Previous upgrades and forks have lead to the former, which, in turn, led to surges in ether mining. A similar chain reaction could come as a result of this fork, they explain. Metropolis isnt the final planned update for Ethereum. The next upgrade, known as Serenity, is expected to bring the breakthrough Continue reading >>

Hours To Go: How To Watch Ethereum's Fork As It Happens - Coindesk

Hours To Go: How To Watch Ethereum's Fork As It Happens - Coindesk

Hours to Go: How to Watch Ethereum's Fork as It Happens With $30 billion on the line, all eyes are likely to be on ethereum tomorrow as it seeks to navigate one of its biggest-ever updates. Will all software users upgrade to the updated blockchain? Or will anew, competing token be created? That's exactly what the market is watching and waiting to see when etheruem hitsblock 4,370,000, scheduled to occur tomorrow at around 6:00 UTC at press time. The first part of a larger, multi-part upgrade, the so-called "Byzantium" code will make the blockchain lighter and faster, paving the way for better decentralized applications (dapps), while also enhancing network privacy. New features aside, however, ethereum developers are mostly optimistic about the upgrade. Although developers on the most popular clients have had to iron out a pair of bugs in the days leading up to change, there's confidence that the upgrade will be smooth. New and seasoned investors won't likely want to take others' word for it, however. So, if you're eager to see for yourself, here's how to monitor the update in real time: Adding uncertainty to hard forks is their reliance on block numbers as a way to signal upgrades. Simply put, rather than have everyone change their software at a specific time, users rely on the numbered blocks in the blockchain itself as a means of coordinating. Because of this, no one knows exactly when the hard fork will take place. Yet, that doesn't mean there's no way to keep an eye out. To track when this block number will be hit, Singapore-based smart contract company CodeTract has released a fork countdown , showing how many blocks remain and roughly, how much time is left until the fork occurs. By current projections, the hard fork looks like it will execute on early Monday. O Continue reading >>

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