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Ethereum Metropolis Fork

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 >>

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 >>

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 >>

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 >>

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 >>

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 >>

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 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 >>

Ethereum's Byzantium Hard Fork Postponed For Further Testing - Coindesk

Ethereum's Byzantium Hard Fork Postponed For Further Testing - Coindesk

Ethereum's Byzantium Hard Fork Postponed For Further Testing The planned roll-out date for ethereum's "Byzantium" upgrade is being postponed by just over a week. The hard fork for Byzantium the first leg in ethereum's Metropolis update will now occur at block number 4,370,000, or about October 17 given current block production metrics. The original expected launch date was October 9, barring any complications during testing. The delay follows a suggestion made by ethereum founder Vitalik Buterin, who recommended in a core developer discussion today that the platform should be conservative relative to previous forks. "We're not in an emergency situation," Buterin said. The suggestion was made, in part, in order to nudge miners into adopting the hard fork more successfully. This is because the difficulty increase intended to incentivize miners to swap onto a different chain has not become too high, and blocks would still be mineable throughout October. Buterin wanted to push the release right to the end of the month, but was discouraged due to the scheduling clash with the ethereum developer conference in early November. The date for the hard fork is now "pretty much final" according to developer Hudson Jameson unless of course, something goes wrong in the test period. The testing phase for Byzantium on the Ropsten testnet officially kicked off on Tuesday , and to date everything is running as expected. The blockchain even verified its first private transaction following the fork. However, that's not to say it hasn't been without some minor hiccups. A malicious user attacked the Byzantium testnet yesterday filling entire blocks with expensive spam contracts. However, Buterin dismissed the attack as "fairly inconsequential." Going forward, coordinated efforts, described b 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 >>

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 >>

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 Metropolis Hard Fork Is Close

Ethereum Metropolis Hard Fork Is Close

Colm is editor of The Block, bringing the most important blockchain developments to both businesses and consumers. The highly-anticipated Ethereum Metropolis hard fork is due to occur in the coming weeks. While speculation has been rife that the date will fall somewhere at the end of September, but it is looking increasingly likely that it will now be early October. Talk of the fork has been building since the release of the Etereum road map for 2017 indicated that an upcoming system release would contain major upgrades to the platform. The hard fork will occur when the platform introduces an upgrade known Metropolis, which is designed to relieve a lot of the pressure currently on the Ethereum ecosystem and add better functionality for users. The Metropolis upgrade is made up of two parts. The first, known as the Byzantium testnet is set to be deployed on 18 September. The Byzantium test phase is projected to last for around three to four weeks. The first testnet will then be followed by the second component of the upgrade, known as Constantinople. Although it has been widely reported that the hard fork would be coming at the end of September, Coindesk quotes Ethereum developer James Hudson as saying: For all the coin media that keep saying September. Its not September. Its October 9 unless something goes wrong with the testnet. This release timetable could be pushed back if things go wrong during the test phase. There are two main reasons why the upcoming hard fork is important for Ethereum and its users. Firstly, it allows a number of significant upgrades to be made to the Ethereum platform. Among the scheduled upgrades coming to the platform are: Byzantium will contain the foundations for the implementation of zero-knowledge proofs (or ZK-SNARKs) that will allow for Continue reading >>

First Part Of Ethereums Metropolis Hard Fork To Hit Ropsten Testnet Next Week

First Part Of Ethereums Metropolis Hard Fork To Hit Ropsten Testnet Next Week

First Part of Ethereums Metropolis Hard Fork to Hit Ropsten Testnet Next Week First Part of Ethereums Metropolis Hard Fork to Hit Ropsten Testnet Next Week JP Buntinx September 18, 2017 Crypto , News A lot of big things will be happening in the Ethereum ecosystem over the next few months. The first part of the Ethereum Metropolis hard fork is scheduled to be launched in the near future. In fact, it appears the hard fork may arrive on the Ropsten testnet as early as next week. This seems to indicate the private testing of this scalability solution is going according to plan. The Ethereum community is quite interested in the upcoming Metropolis hard fork. As we mentioned before, there will be two parts to Metropolis, with the first part of these changes going through the final touch-ups and private testing as we speak. However, it seems things are going quite well in this regard, considering the developers hinted at how these changes may arrive on the Ropsten public testnet in the next week or so. Thismeans things are advancing nicely. These major software updates will pave the way for a better and improved Ethereum ecosystem as a whole. Solving some of the scalability issues is one of the main selling points of Metropolis, although that only represents a portionof the work put in by developers in recent months. Metropolis also includes a few Ethereum Improvement Proposals which will finally go into effect as well. Some of the more noteworthy changes include parallel transaction processing, fixing block rewards for uncle blocks, and delaying the difficulty bomb . This latteraspect is one of the main selling points of the Metropolis hard fork right now, as it indicates thatpeople will still be able to mine Ethereum for quite some time to come. However, the block reward wi 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 >>

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