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Ethereum Metropolis Hard Fork

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 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 >>

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 >>

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 >>

Ethereum's Metropolis Hard Fork Is Finally Here

Ethereum's Metropolis Hard Fork Is Finally Here

Ethereum is an open-source, public, blockchain-based, distributed, computing platform featuring smart contract functionality. Since its creation, Ethereum has undergone some hardforking. The DAO hardfork subsequently led to other Ethereum forks two times in the fourth quarter of 2016, to deal with other attacks. By the end of November 2016, Ethereum had increased its DDoS protection, distended the blockchain, and prevented further spam attacks by hackers. Ethereums change into Metropolis is a case study into the multidisciplinary, dynamic, inner workings of how the decentralized application platform functions. Ethereums developers informed the world regarding the upcoming changes to the Ethereum ecosystem, which is the next milestone release for the Ethereum Platform. The two separate hard forks making up the Metropolis changes will be Byzantium and Constantinople respectively. Both hard forks will gradually introduce major updates to the greater Ethereum ecosystem. The hard-fork is highly awaited, ever since the Ethereumroadmapfor 2017 was released within the first past five months of this year. People active in the ETH world are anxiously anticipating the activation of this hard fork. Metropolis will hit Ropsten testnet for private testing of its scalability solution. First, per the latest information from the Ethereum Foundation , when the Ethereum network reaches block number 1,700,000, the Byzantium hard fork will go live on Ethereums Ropsten testnet. The actual network upgrade to Metropolis proper is slated for early October 9, depending on how Ropsten testing goes. The new zk-SNARKs , zero-knowledge proofs, will allow users to perform transactions which are anonymous in new and more powerful ways across the platform. Additionally, smart contracts will be helped Continue reading >>

Ethereum Metropolis Hard Fork Coming Later This Year

Ethereum Metropolis Hard Fork Coming Later This Year

Ethereum Metropolis Hard Fork Coming Later This Year The upgrade includes increased anonymity and security, easier programming and smart contracts, while making it harder to mine Bitcoin got its hard fork, Bitcoin Cash, but the Ethereum Developer team is planning something similar. Called Metropolis, this hard fork was planned in the Ethereum road map for 2017, and will include a number of improvements, some of which well discuss here UPDATE: Metropolis is a complex update, and its first part calledByzantium is scheduled for mid-October 2017. The second part, called Constantinople, will be released at a later date. Related: 5 Things to Know About Cryptocurrency Forks Metropolis is all about adding new features to the Ethereum platform. Here are some of the key features you should know about: This will come included thanks to the new zk-SNARKs, or Zero-knowledge proofs, that come included with the ZCash platform/cryptocurrency. It will enable users to perform anonymous transactions at higher levels than in the past. 2. Easier programming and smart contracts Making life much easier for Ethereum developers Also, gas will be adjusted for bill settling. We find these features to be among the most important ones, with more developers making cool stuff for the platform to eventually make it available to just about every user out there. This is fairly important for security enthusiasts, allowing users to determine the address for which they have a private key. This will increase security on the network, even against quantum computer hacking. The upgrade includes the so called Difficulty-Bomb that makes mining exponentially more difficult. This bomb is designed to act as an intermediate step in the transition from proof-of-work (PoW) to proof-of-stake (PoS) on the network. So f 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 >>

Will The Ethereum Metropolis Hard Fork Result In Another New Currency?

Will The Ethereum Metropolis Hard Fork Result In Another New Currency?

The topic of a hard fork in any cryptocurrency ecosystem is always met with a bit of criticism and confusion. Ever since the Ethereum hard forked to solve The DAO issue, there have been two currencies. When Metropolis is released, Ethereum will see another hard fork. This should not lead to a third iteration of Ethereum being created per se, although there is always a small possibility. METROPOLIS HARD FORK SHOULD NOT WARRANT NEW CURRENCY A lot of people are seemingly confused as to why Ethereum and Ethereum Classic came to be two different currencies. That is rather simple to explain, though. The Ethereum ecosystem has seen a total of five different hard forks so far. While that number is quite high, all of these interventions were needed, in the minds of the developers. One of these hard forks was created to solve The DAOs stolen funds issue, which did not sit well with everyone in the community. As a result of that hard fork, not all of the miners switched over to the blockchain supporting this fork. Instead, a small percentage of sash power kept mining the blockchain that existed before this fork was introduced, resulting in new coins being created on that chain. Since they could not be called ether coins, they rebranded the chain to Ethereum Classic. The new currency on that chain is known as ETC, and can be traded across many different exchanges around the world. Some people are growing concerned the upcoming Metropolis hard fork could result in yet another Ethereum currency being created. While that is certainly possible on paper, it seems highly unlikely in reality. The reason why Ethereum Classic exists is due to a difference in ideology regarding The DAO bailout. Some people felt it was wrong to do this, and they branched off from the Ethereum network. That d 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 >>

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 >>

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 Client Update Sets Byzantium Hard Fork Date - Coindesk

Ethereum Client Update Sets Byzantium Hard Fork Date - Coindesk

Ethereum Client Update Sets Byzantium Hard Fork Date Ethereum's most popular client has upgraded its code to enforce the upcoming Byzantium upgrade set for later this month. The code from Go Ethereum (Geth) officially enshrines the hard fork for block number 4,370,000, a time previously established by developers during an ethereum core team discussion on September 22. With the Geth release, the network moves closer to implementing the first of two parts in the wider Metropolis upgrade. The addition of the code to Geth is notable because it greatly increases the likelihood that the upgrade will happen at that time. Geth, which is maintained by developers employed by the Ethereum Foundation (the Swiss nonprofit that manages development on ethereum more broadly), accounts for roughly 69 percent of all ethereum nodes, according to data from Ethernodes.org . If the block time remains consistent between now and then, the hard fork which will make previous versions incompatible with the wider ethereum network following the upgrade trigger will officially occur on October 17. Anyone running a ethereum node with Geth is requested to update their software to "ensure a smooth transition," the code release states . In a reddit post accompanying the release, ethereum developer Peter Szilgyi advised node operators to update their software at least a week prior to the mainnet launch. Other clients, such as Mist, will issue updates in the coming dates,Szilgyi predicted. "Please give yourselves ample time to switch to the 1.7.x series (1.7.1 specifically for Byzantium) before the hard fork to avoid any surprises as the series does contain non-trivial database optimizations ([it] also gives us time to fix anything if something doesn't work as it should)," he commented . The code release 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 >>

The Metropolis Hard Fork And Whats In Store For Ethereum?

The Metropolis Hard Fork And Whats In Store For Ethereum?

The month of September is an exciting month for anyone following Ethereum. The development team behind Ethereum is working hard towards a much anticipated upgrade known as Metropolis. The hard fork is poised to relieve a lot of stress on the Ethereum ecosystem, as well as, bring a little more convenient functionality for its users. Metropolis will be split into 2 core releases: Byzantium & Constantinople. The Byzantium release is scheduled to implement on the 4.3 millionth block or on September 22nd. Update:The Byzantium Hard Fork will hit the testnet on September 18th and is scheduled to go live on October 9th, 2017 ( not final ). Lets take a look at some of the planned upgrades being introduced in Byzantium. Foundations for ZK-SNARKs / Zero-Knowledge Proofs Byzantium will include the building blocks to implement zero-knowledge proofs or ZK-SNARKs in the future. The implementation of ZK-SNARKs will allow a higher-level of anonymity for the Ethereum ecosystem. To learn more about ZK-SNARKs, read the paper by Solidity founder, Christian Reitwiener: Account abstraction is another great feature planned for the upcoming fork. It will allow users to have more control over their private keys and the ability for contracts to pay the mining fees instead of having the sender always pay for the gas. Additionally, the account abstraction will reduce the risk of being hacked by quantum computing. The Solidity programming language is undergoing an upgrade to allow novice programmers to easily work with smart contracts. New functionality and an easier hands-on approach will encourage new programmers to begin building their applications and smart contracts. According to the development team, the difficulty time-bomb will be delayed By 18 Months ( source: core dev meeting ), this will 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 >>

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