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Ethereum Metropolis

What You Need To Know About Ethereums Metropolis

What You Need To Know About Ethereums Metropolis

Diversify your portfolio with minimal time and effort What you need to know about Ethereums Metropolis Large scale upgrade was introduced in the Ethereum road map in 2015 under the name of Metropolis which encountered some significant delays resulting it to be broken into two phases namely Byzantium and Constantinople. The second largest cryptocurrency by market cap went through the fifth hard fork yesterday, implementing set of ethereum improvement protocols (EIP) . Since this hard fork is planned so there has been very little disagreement among the community and, hence there should not be any chain split. The fork is a major upgrade for Ethereum since the beginning of the year, since when Ethereum has gained popularity with the skyrocketing demand from ICOs using Etherums ERC20 token standard. The objective of Metropolis is to enhance scalability, privacy and safety features in Ethereum. The road to fork was not easy for Ethereum developers as well, Byzantium-enabled ethereum software was continuously retracted due to critical bugs found in the code . Developers pushed out corrections just in time . The Byzantine fork is expected to include the following key features: zk-SNARKs (Zero-Knowledge proofs) increasing anonymity of transactions Addition of REVERT opcode that allows error handling without consuming all gas Reduction of block creation reward from five to three ether 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 Generally, mobile and Internet wallet providers are running their own client infrastructure, and users did not have to take any action. So far the fork looks to see no issues according to current fork logs, and Continue reading >>

Metropolis / Byzantium Hardfork On Ethereumthis Is What You Need Toknow

Metropolis / Byzantium Hardfork On Ethereumthis Is What You Need Toknow

Metropolis / Byzantium Hardfork on Ethereum this is what you need toknow What are the key things you should consider with the upcoming metropolis hard fork? My name is Julian, Im one of the co-founders of TenX. The reason Im making this video here on Ethereum and the upcoming Metropolis hardfork is TenX is a PAY token, as an ERC20 token running on top of Ethereum. Hence, anything that happens to the underlying computer will affect us as well. This is what I will address first: What exactly is the Metropolis update? Let me use an analogy. Let Ethereum be a computer. At the moment, the operating system (OS) is Homestead. This is similar to iOS 10 on the iPhone. It will soon be upgraded to Metropolis, which includes many updates, which I will go into soon. First of all, when Ethereum implemented all of these things, they realised that certain aspects of it was challenging. Hence, this update was split into two parts, Byzantium and Constantinople. The key updates, those that are extremely relevant to TenX, are included in Constantinople. Byzantium has upgrades that are targeted at developers, in particular improvements to the smart contract. This update also includes something called zero-knowledge snarks (zk-snarks). This is an advancement in privacy, which has been tested for quite a while on the testnet, and has finally been included in the mainnet with this update. Next, Byzantium also includes an 18 month delay of the difficulty bomb. This is relevant because it ensures that the mining difficulty of Ethereum remains at a reasonable pace instead of increasing exponentially. One of the key things that we at TenX would have like to have been implemented is known as the Casper protocol. This is a contract that allows parties to stake their Ether to facilitate the consensu Continue reading >>

Metropolis Today: The Shifting Plans For Ethereum's Next Big Upgrade - Coindesk

Metropolis Today: The Shifting Plans For Ethereum's Next Big Upgrade - Coindesk

Metropolis Today: The Shifting Plans for Ethereum's Next Big Upgrade These are just some of the benefits Metropolis, the next upgrade to the ethereum blockchain , promises to introduce when it's finally unveiled. Long the subject of curiosity and debate, the third phase in a four-step roadmap first unveiled in 2015 stands to enact perhaps the platform's most substantial changes. But far from just a boon for the nascent technology, there is real risk in the rollout. "Ethereum isn't safe or scalable. It is immature experimental tech," ethereum protocol developer Vlad Zamfir emphasized in a tweet earlier this year. If there's one upgrade that will lay this fact bare, Metropolis may be it. Because substantial changes to the platform put real money in danger, ethereum developers have been inclined to take their time, choosing to write off grumblings from users, entrepreneurs and a market that seems eager for the technology to make its next big advance. Hudson Jameson, the unofficial release manager for Metropolis, emphasised that the devs "always err on the side of caution" a hesitancy which, although well advised, has lead to a string of delays. (A recent thread on r/ethereum, perhaps the biggest collection of the tech's enthusiasts globally even went so far as to question what exactly was the promised deadline to begin with to conflicting conclusions ). But timeline aside, there's actually been big changes to the plans. Metropolis, once conceived as the stage at which a user-friendly version of the technology would finally go live, has seen shifts that could change the final code rollout dramatically. While once thought to usher in an age of "abstraction" Vitalik Buterin referred to the concept in 2015 as "arguably its entire raison dtre" what may finally be published is Continue reading >>

The First Half Of Ethereum Metropolis Hard Fork Goes Live

The First Half Of Ethereum Metropolis Hard Fork Goes Live

The First Half of Ethereum Metropolis Hard Fork Goes Live Byzantium, the first half of the Metropolis hard fork development upgrade on the Ethereum network, has gone live. The announcement of the action was posted by Ethereum founder via Twitter: Byzantium went live on Ropsten yesterday. And it just verified a zk-snark proof. Vitalik Buterin (@VitalikButerin) September 19, 2017 According to the Ethereum developers team, the Metropolis hard fork is due to occur late September. In the same post, Buterin notes that Byzantium verified its first zk-snark proof. The statement indicates that the potential for zero-knowledge proofs is real. Zero-knowledge cryptography is used as a method for verifying a ledger entry without revealing the identity of any parties. The zk-snark proof has been identified as the only truly anonymous transaction, built on the principle promoted bythe altcoin ZCash. As Byzantium is released, it will provide a more robust and scalable framework for increased Ethereum throughput. The need for the upgrade has become more and more evident as large-scale corporations like Microsoft and Intel are developing applications built on the protocol. The upgrade comes just days before the firstblock time increase to 30 seconds, previously scheduled for approximately Sept. 22 (the beginning of what is called the Ethereum Ice Age). The second half of the Metropolis upgrade, nicknamed Constantinople, is still pending. Continue reading >>

First Of Two Ethereum Metropolis Hard Forks Takes Place Tomorrow

First Of Two Ethereum Metropolis Hard Forks Takes Place Tomorrow

First of Two Ethereum Metropolis Hard Forks Takes Place Tomorrow Tomorrow is an important day in the history of Ethereum. As most people know, tomorrow will be the day on which the first hard fork of the Metropolis upgrade takes place. Unlike the previous big hard fork, there will be no currency or blockchain split this time. Its an interesting milestone for Ethereum, as the quest to make this project more appealing is far from over. Once we hit block number 1,700,000 things will get somewhat more interesting. The first part of Ethereum Metropolis introduces some interesting changes. We see the introduction of Zk-snarks and early PoS support. Additionally, there are some interesting changes to how smart contracts work. This main technology of interest associated with Ethereum still requires a lot of work. In this first fork, the smart contracts will become more flexible and robust. A more than welcome change, to say the very least. Do keep in mind there will be a second hard fork at a later stage. Similar to the first, no major issues are to be expected whatsoever. There will be some more integrations and updates, although most of them have yet to be documented. It is good to know both of these forks will go off without a major hitch, though. After all, we dont need an Ethereum Cash or other useless altcoins right now. For the Ethereum users themselves, no major changes will occur. Nor does anyone need to take significant precautions either. It is advised not to send or receive any ETH transactions during the fork itself, though. While no issues are expected, there is no reason to lose coins by accident either. Anyone who keeps money in an exchange will be safe from harm unless the company in question messes up really badly. Most of the Ethereum clients have been updat Continue reading >>

First Iteration Of Ethereum Metropolis Hard Fork To Appear Monday

First Iteration Of Ethereum Metropolis Hard Fork To Appear Monday

First Iteration of Ethereum Metropolis Hard Fork to Appear Monday Ethereum devs are ready to roll out the Metropolis hard fork proposal by next week. The Ethereum Foundation and other developers in the open source development community of Ethereum are ready to roll out the first iteration the Metropolis hard fork proposal by next week. According to Jordan Daniell of ETHNews, the Metropolis hard fork is set to be executed in two separate phases. The first iteration of the Metropolis hard fork is called the Byzantine hard fork, a solution that is expected to minimize the actions of bad actors within the Ethereum ecosystem. The Byzantine hard fork will be integrated into Ethereums testnet on block number 1,700,000, which could be as early as Sept. 18. In previous interviews with Cointelegraph, Ethereum co-founder Vitalik Buterin emphasized the necessity of a network improvement and the execution of a hard fork in order to provide a more efficient, secure and robust infrastructure for decentralized applications (dapps) and developers. Over the past 12 months, an increasing number of multi-billion dollar financial institutions, Fortune 500 conglomerates and dapp developers have entered the Ethereum ecosystem through various consortia such as the Enterprise Ethereum Alliance. Companies like JPMorgan, Microsoft, Intel and BBVA are actively developing applications on top of the Ethereum protocol to automate their operations and develop new infrastructures based on the immutable Blockchain network of Ethereum. For the Ethereum network to support all of the incoming large-scale dapps in the near future, especially many dapps that are set to be commercialized and implemented to larger platforms, developers will require a more robust protocol to work with. The applications are the Continue reading >>

Byzantium Fork For Metropolis Is Live On Ethereums Ropsten Testnet

Byzantium Fork For Metropolis Is Live On Ethereums Ropsten Testnet

Byzantium Fork For Metropolis Is Live On Ethereums Ropsten Testnet Jordan Daniell September 19, 2017 1:10 AM Today marks a significant milestone for Ethereum. The first iteration of the much anticipated Metropolis upgrade is finally being tested on Ethereums testing network. The Ethereum Ropsten testnethas reached block number 1,700,000 . Geth 1.7 has automatically implemented nine Ethereum Improvement Proposals (EIPs) as well as the Byzantium hard fork. This is a true milestone and is evidence that Ethereums leadership is strong and continues to set and achieve goals for the future. While there is no way of knowing how successful this testing rollout will be, hopes are high for the new updates, which are expected to bring more security and speed to the platform. Geth 1.7 is the mechanism that will usher in Metropolis . Originally developed in Ethereums youthful Frontier , Geth isthe command line interface for running full nodes on the Ethereum blockchain. Its essentially how people talk to the blockchain. Geth 1.7 includes updates for the nine EIPs as well as a critical time stamp for the first Metropolis hard fork, Byzantium. Ropsten simulates the Ethereum network and the Ethereum Virtual Machine (EVM). Developers can check new code and verify that the changes are working correctly. Executable distributed code contracts, also known as smart contracts, can also be uploaded to Ropsten and allow for interactive developer testing without requiring Ether gas payments to process transactions. Ropsten is basically a free clone of the Ethereum network with diminished cybersecurity. (Its a testing network so it doesnt need robust security.) There are two main upgrade optimizations taking place today. The first is that data storage requirements for fast-synced nodes have been Continue reading >>

First Ethereum Metropolis Hard Fork Rolled Out

First Ethereum Metropolis Hard Fork Rolled Out

First Ethereum Metropolis Hard Fork Rolled Out By Nathan Reiff | Updated September 19, 2017 1:15 PM EDT Ethereum, the second-largest cryptocurrency in the world by market cap, rolled out the first stage of its Metropolis hard fork proposal this week. Coin Telegraph reports the hard fork will be executed in two phases, the first of which began Monday, September 18. This first step is known as the Byzantine hard fork, and it is expected to reduce the consequences and actions of malicious presences within the broader ethereum network. It will be integrated into ethereum's testnet on block number 1,700,000. Buterin: Network Improvement Is Necessary Vitalik Buterin, co-founder of ethereum , previously emphasized the importance of a broad improvement to the cryptocurrency network, made possible by the execution of a hard fork, in order to ensure that stability and security remain priorities as the network continues to grow. Efficiency is also a key goal of the hard fork, particularly for decentralized applications and their developers. In the past year, many additional companies and governments have begun to explore the way that the ethereum ecosystem and blockchain can enhance their businesses and operations. These include major Wall Street institutions such as JPMorgan, and large-scale tech companies like Microsoft and Intel. If ethereum hopes to be able to support the apps and increased user base associated with this expanded interest, it must be able to offer a more robust protocol. Buterin has explained "the applications are there...all are on backburner now precisely because scalability is not there. I personally have cut down evangelism precisely because I see that the main bottleneck is now not interest, but tech." The Byzantine hard fork will be implemented at first Continue reading >>

Ethereums Metropolis Update Will Occur Through Two Separate Hard Forks

Ethereums Metropolis Update Will Occur Through Two Separate Hard Forks

Ethereums developers have provided the world with a little bit more information regarding the upcoming Metropolis hard fork. As noted earlier, this hard fork will go into effect at the end of September of this yearand introduce a lot of changes to the ecosystem. As it turns out, there will be two separate hard forks making up the Metropolis changes. The two forks will be known as Byzantiumand Constantinople respectively. Both hard forks will gradually introduce big changes to the greater Ethereum ecosystem. Although the Ethereum ecosystem is no stranger to hard forks, it seems the developers are leaning toward introducing fewer changes per fork in the future. Considering how the Metropolis development update will shake things up quite a bit, a gradual roll-out of changes and opportunities is indeed a better approach. After all, the developers want to ensure all of their changes work properly before they are introduced to the public. If that means pushing some elements back a few months for optimization purposes, so be it. Constantinople and Byzantium are the two upcoming development changes to look forward to, as both hard forks are part of the major Metropolis update. The first part of Metropolis will be the Byzantium hard fork which will go into effect as planned bythe end of September. The team is still benchmarking the new gas costs, and results should be in within the next two weeks. Once these benchmarks are complete and the network clients integrate the Byzantium EIPs accordingly, the hard fork will be launched onto the Ropsten testnet for two to four weeks. This will give the Ethereum developers some time to collect additional feedback and fix any lingering bugs or issues that may have slipped through. Accessing this testnet release couldbe a bit difficult. The Continue reading >>

Ethereum Prepares For Metropolis Update, Postpones First Step

Ethereum Prepares For Metropolis Update, Postpones First Step

Ethereum Prepares for Metropolis Update, Postpones First Step In 2015 the Ethereum team released a four phase roadmap for the platforms full implementation. Two of the phases, named Frontier and Homestead, have been implemented. The third phase, Metropolis, is about to be released. This phase promises to be the most significant upgrade yet, and is designed to make Ethereum more secure, scalable, and easier to use by non-technical users. Metropolis implementation will require a hard-fork, which was initially due to take place in late September but has twice been postponed. It is now expected to take place on October 17th. Metropolis will be rolled out in two steps, named Byzantium and Constantinople. Byzantium entered the testing phase on September 19th, and a few minor issues notwithstanding, appears stable. The testing has included successfully confirming a zero knowledge proof, which is a fully anonymous transaction between two parties. This type of transaction is so secure, that theoretically it cannot even be hacked by quantum computing. The hard fork, which is part of Byzantium, has been delayed on the advice of Ethereum founder Vitalik Buterin to give miners more time to adopt it, and to enable more testing. Buterin has stated that Ethereum is not experiencing difficulty, and that no more postponements will take place. Once the fork begins block times will increase in steps from the current 23 seconds to 39, which will increase the difficulty for miners, giving them an incentive to move to the new blockchain. The Ethereum upgrades are enthusiastically welcomed by crypto advocates, and Ether prices increase each time a major announcement is made. The value is almost certain to increase substantially once Metropolis is fully implemented. Should the upgrades continu Continue reading >>

A Simple Guide To The Ethereum Metropolis Upgrade

A Simple Guide To The Ethereum Metropolis Upgrade

The proposed Metropolis upgrade for Ethereum will roll out in two phases. The first phase, known as the Byzantium hard fork is now set for October 17, 2017. The second phase, known as Constantinople has no official release date as of yet. The Byzantium hard fork does keep getting pushed back in its release, however bear in mind the proposed changes being made to Ethereum are quite thorough and embody the result of months of hard work on the part of various coders. Ignore any emails you receive indicating that you need to upgrade for example your wallet, or that you need to enable 2 factor authentication for your account. These are fishing links. All of the updates will be done on Ethereums end. The Hard Fork Will Not Result in a New Coin: Whenever there is a fork, there is always the risk of a chain split, such as what happened with Ethereums initial hard fork, resulting in the creation of Ethereum (the updated version) and Ethereum Classic (the original). At that time, there was major ideological divide in the Ethereum community and many did not agree with altering the blockchain due to the DAO hack . The Ethereum Foundation continued forward with the update, essentially erasing the history of what happened and moving their funds to a new blockchain address. The Metropolis upgrade is vastly different, with many in the Ethereum community united on these improvements, with very little if any resistance to the proposed upgrades. This means more than likely Ethereum miners will upgrade and there will be no chain split. All of the official changes are listed here . 1. Simplified Programming in Solidity: New functionality will be added within Ethereums programming to be more conducive to novice programmers, which is huge considering a lot of people struggle with the Solidit Continue reading >>

Metropolis: Byzantine, The First Part Of Ethereums Planned Hard Fork, Activates October 17

Metropolis: Byzantine, The First Part Of Ethereums Planned Hard Fork, Activates October 17

Recently the first part of the Metropolis hard fork launched on Ethereums Ropsten testnet. On October 17, the hard fork is scheduled to go live on main net. To stay part of the network, every user has to update their client. But what does Metropolis actually change? Is the hard fork a big hit or does it disappoint against the high expectations? On October 17, Ethereum will reach the third stage of its life cycle. After passing Frontier and Homestead, another hard fork will ring in the Metropolis era. The first part of the hard fork will activate some changes, which are not as fundamental as expected, but will significantly change Ethereum nevertheless. On the Ropsten testnet, the hard fork already happened on September 25. On main net, the upgrade is scheduled to activate at block 4,370,000. When this happens anticipated during the morning of October 17 every client must have upgraded. Those which havent will be cut off from the network. The original plan was to transform Ethereum from proof of work to proof of stake. Such a transition would have fired the miners with their graphic cards and replaced them with investors, which stake with their coins. A radical transformation of the basic design of Ethereum will not happen with Metropolis. The developers postponed it to the fourth and last phase of Ethereum, Serenity, to keep the Metropolis hard fork closer to the ground. To coordinate the fork better, it was split in two parts; Byzantine and Constantinople. The first part, Byzantine, is what is in line. But what will it have inside? We will take a look at the changes, one by one, and try to decrypt them. Currently the Ice Age algorithm still increases the mining difficulty exponentially. This can be seen in the statistics of the network; the minting of new ether decrea Continue reading >>

What Is Ethereum Metropolis: The Ultimate Guide

What Is Ethereum Metropolis: The Ultimate Guide

What is Ethereum Metropolis: The Ultimate Guide Angel Investors, Startups & Blockchain developers... Metropolis is upon us! Or at least its the first iteration. After a lot of deliberations and updates, the time has finally arrived for the next big jump. There is a lot of buzz going on right now and for good reason. The last time Ethereum did a network shift i.e. from Frontier to Homestead, the price jumped more than 100% from $12 to $30. What are the features that metropolis is going to bring into Ethereum? Since Ethereum needs to do a hard-fork to get into Metropolis, will it create another new coin? Will we have 3 Ethereum coins (along with ETC and ETH)? What is Ethereum Metropolis? The 4 Stages of Ethereum. This, not the first time Ethereum has upgraded of course and it wont be the last time. Ethereum was not designed to be just a mode of currency. It was designed to be a platform for decentralized applications. However, before it can do so, it needs to go through various stages of growth. With each stage, Ethereum levels up by incorporating more and more properties making its system more robust and seamless. The complete launch process of Ethereum was divided into 4 stages. This was done to make sure that various phases got their own developmental time and that every stage was developed as efficiently and optimally as possible. Frontier: This was what everyone got when Ethereum was first launched. Homestead: The stage that we are on as of writing. Metropolis is the 3rd stage in the 4-stage process and there are a lot of interesting features that are coming as and when it gets implemented. Here are some of the main ones which are going to have plenty of repercussions. Lets go through each and every one of them one-by-one. One of the biggest and most important featu Continue reading >>

What The Ethereum Metropolis Update Means For The Eth Holder

What The Ethereum Metropolis Update Means For The Eth Holder

What the Ethereum Metropolis Update Means For the ETH Holder On the first day of the month of August, the Bitcoin blockchain got split and gave rise to a completely new currency bitcoin cash. The miners backing the bitcoin cash blockchain were successful in officially branching off and ultimately added blocks to a new and separate blockchain. The backers of bitcoin cash believe that an economy can be built around the new currency and its blockchain. In the light of this, there is an expected update of the Ethereum blockchain. Ethereum is currently the second most popular cryptocurrency after bitcoin. This update of the Ethereum blockchain is called the Metropolis and it will be the third of four planned stages of the blockchains development. In fact this Metropolis update of Ethereum is expected to be in two parts; two hard forks Byzantium and Constantinople. The fork is projected to occur between the 22nd of September and the 27th of October. To the regular ETH holder, a better experience with the blockchain will be a welcome development and this is exactly what the Ethereum update seeks to do. It is expected that with this update, the Ethereum blockchain will be more secure and also will be more robustly equipped against any potential hack attempt by quantum computers. Ethereums anonymity is expected to be enhanced through the integration of Zcashs cryptographic engine (zk-SNARKS). This will enable direct order and trade executions between the Ethereum and Zcash blockchains. Ethereum mining will be moved from proof-of-work to proof-of-stake which will help reduce the amount of electricity consumed in mining the cryptocurrency. The decision about mining difficulty was however been delayed but rewards to miners have been reduced. Additionally, it is expected that there Continue reading >>

Ethereum's Major Software Upgrade, Metropolis, Expected To Appear Next Week | Cryptoslate

Ethereum's Major Software Upgrade, Metropolis, Expected To Appear Next Week | Cryptoslate

Share on Facebook Share on Twitter Share on Google+ Share on LinkedIn 2017 has been the breakout year for Ethereum. In addition to its headline grabbing value appreciation and its increasingly influential founders, Ethereum is bridging the gap that many most cryptocurrencies are struggling to address even on a theoretical level. Ethereum is becoming relevant in the real world. While the price of Ethereum has increased dramatically this year, their blockchain is rapidly expanding as companies are capitalizing on blockchain technologies for everything from enterprise data solutions to cryptocurrency development. Both of these are major milestones for Ethereum. Consortia such as the Enterprise Ethereum Alliance are establishing methods for implementing blockchain technology across industries and, as a result, major companies are leaning heavily on the Ethereum blockchain. Meanwhile, ICOs have raised over $1 billionthis year . Much of that development is happening on the Ethereum blockchain. In short, while Bitcoin continues to capture cryptocurrency mindshare, Ethereum is being touted for its real-world applications, and it fully intends to keep pace with the challenges. In the past year, many corporations and governments have started exploring how the Ethereum ecosystem and blockchain can improve their businesses and make operations more efficient. The Ethereum Enterprise Alliance includes major Wall Street institutions such as JPMorgan and Accenture, and large-scale tech companies like Microsoft and Intel. Last month, Vitalik Buterin, co-founder of Ethereum, commented on this problem, tweeting, I personally have cut down evangelism precisely because I see that the main bottleneck is now not interest, but tech. With the introduction of the Metropolis hard fork, Ethereum Continue reading >>

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