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Ethereum Split 2017

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 >>

History Repeated? Confidence High Ethereum Will Avoid Blockchain Split

History Repeated? Confidence High Ethereum Will Avoid Blockchain Split

History Repeated? Confidence High Ethereum Will Avoid Blockchain Split Oct 13, 2017 at 10:00 UTC|UpdatedOct 16, 2017 at 10:01 UTC "There is no reason to believe that this one will be controversial." Just days away from making one of its biggest-ever upgrades, confidence is high among ethereum supporters that the world's second-largest blockchain will avoid past mistakes and successfully navigate a coming change to its codebase, projected for Sunday night. "I expect that nothing will happen,"Ethereum Foundation developer and designer Alex Van de Sande told CoinDesk. "Nothing happened with previous hard forks, except for one." Packing together a series of upgrades designed to make ethereum lighter, faster and more private, the update, called Byzantium, will be enacted at block 4,370,000 on the ethereum blockchain.Yet, it's how the change will be enacted - using a hard fork - that has some mindful of possible issues. A common (yet sometimes controversial ) strategy for upgrading blockchains, ethereum has gone through three hard forks without complication . Still, the memory of the fork that didn't go to plan is still top of mind. Last summer, an emergency hard forksaw a contingent of the community continue mining on the old blockchain, creating a new asset, ethereum classic. In the aftermath, some users and companies lost funds, while ethereum was suddenly faced with a competing alternative in the market. That said, most users and developers are embracing this particular hard fork, in part, because it aims to execute changes that have been etchedinto ethereum's roadmap since the protocol launched in 2015. When contacted, developers largely agreed with this outlook, expressing excitement by the changes to be included in the upgrade. Stephen King, the principal and co-found 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 >>

Ethereum Expected To Split Again In October

Ethereum Expected To Split Again In October

Ethereum Expected to Split Again in October So far this year, we've already seen Bitcoin split into two and form Bitcoin Cash. Now Ethereum, another popular cryptocurrency that also uses blockchain technology, is expected to spliton October 17. In Ethereum's last update during 2016, thesplit created Ethereum Classic . Ethereum now has a market cap of $27.8 billion as it heads toward its October split. Ethereum, of course, is not alone in its momentum. Ryan Radloff, head of investor relations at XBT Provider explains that we are seeing that the crypto-asset space beyond Bitcoin is maturing very fast and that some "investable contenders" are emerging, even if fledgling. "That said, we believe in the next 18 months, a handful of the crypto-assets currently in the topten by market cap will also begin to demonstrate enough market depth and breadth to attract large institutional investors like Bitcoin has attracted over the last 12 months," said Radloff. Ripple and Litecoin, among others, are getting set for primetime on the cryptocurrency stage. Of course, Ethereum iscurrently the prince to Bitcoin's king. Part what helps it is the easy analog of Ethereum to another beloved commodity -- in a similar fashion that Bitcoin has a real world comparison. Radloff explains that while his group may asses a portfolio allocation of Bitcoin, similarly to that of gold, they look at Ether differently: similarly to oil. "Since ether is required to operate the Ethereum virtual machine (EVM) - ether is referred to as the 'fuel' to the EVM engine - our long term approach to valuation looks similar to that of assessing a traditional commodity such as oil - we begin by modeling utility growth of the EVM and thus future consumption of ether," said Radloff. Radloff explains his current long term Continue reading >>

Ethereum Hard Fork. Whats Going Tohappen?

Ethereum Hard Fork. Whats Going Tohappen?

Developing Blockchain & Smart Contracts PoC and MVP for ICO startups and established companies Ethereum Hard Fork. Whats Going ToHappen? Recently I have received many questions about the Ethereum hard fork: what will happen with all the ERC20 tokens, which basically are smart contracts deployed to Ethereum. Therefore, I decided to perform a quick research and cover this topic as we are getting closer to Metropolis update, everyone should be informed and understand what will happen. Blockchain miners run the software to maintain the network, confirm transactions and earn mining fees. The software is being maintained and developed by the Network core developers and community. The main incentive for miners is profit, however, developers are seeking fast and effective network. This incentive mismatch is hard to align. Miners select which software to run. Therefore, we have issues when developers propose solutions which reduce mining profits and part of the miners disagree with changes. At a certain time, we have a fork, where half of the miners run one piece of software and other half operate with another software. This leads us to having two separate chains from a certain block and this results in having a chain split. Source: The bitcoin has experienced a hard fork and a chain split lately. That lead to Bitcoin and Bitcoin Cash. The chain split occurred because the miners have been divided into two parts and one side did not want to use the new proposed software. The result is that both networks are being maintained by miners. From a bitcoin owner perspective, your coins are available on both chains and you can start interacting with both networks. The Bitcoin chain split resulted in having the new cryptocurrency with a third size market cap. Due to high load on the netw Continue reading >>

Vitalik Buterin: Bitcoin More Likely Than Ethereum To Split In 2017

Vitalik Buterin: Bitcoin More Likely Than Ethereum To Split In 2017

Vitalik Buterin: Bitcoin More Likely Than Ethereum to Split in 2017 Ethereums lead developer thinks Bitcoin is more likely than Ethereum to split in two in 2017. As the lead developer of Ethereum, Vitalik Buterin counters the view by the founder of the International Blockchain Real Estate Association, in hinting that Bitcoin is more likely than Ethereum to split into two in 2017. He stated in a tweet to Ragnar Lifthrasir: @Ragnarly 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 Lifthrasir had, in his response to the news that the United Arab Emirates is using Ethereum (ConsenSys) to conduct a real estate records pilot program, described the UAEas being irresponsible for using Ethereum (ConsenSys) over Bitcoin for the program. He stated that: Ethereum is a terrible choice for a real estate database. His argument is based on the view that real estate records need to exist for decades and that Ethereum is too unstable, too mutable, too unproven compared to Bitcoin to be used for a real estate database. He also cited the exploitation of $150 mln worth organization The DAO in June 2016, the subsequent hard fork that split Ethereum miners, the networks history of bugs and errors and the uncertainty of Ethereum developers to switch from Proof of Work to Proof of Stake consensus algorithm. Lifthrasir thinks that the 400,000-times greater hashing power of Bitcoin and its 23-time bigger market cap make it a better choice for the real estate database instead of Ethereum. Vitalik Buterin (@VitalikButerin) December 30, 2016 @Ragnarly Or, they can just... choose the chain that makes sense. Vitalik Buterin (@VitalikButerin) December 30, 2016 He added elsewhere th Continue reading >>

Ethereum - Wikipedia

Ethereum - Wikipedia

This article has multiple issues. Please help improve it or discuss these issues on the talk page . This article relies too much on references to primary sources . Please improve this by adding secondary or tertiary sources . Some of this article's listed sources may not be reliable . Please help this article by looking for better, more reliable sources. Unreliable citations may be challenged or deleted. The Ethereum Project's logo, first used in 2014 Ethereum is an open-source , public, blockchain -based distributed computing platform featuring smart contract (scripting) functionality. [2] It provides a decentralized Turing-complete virtual machine , the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum also provides a cryptocurrency token called "ether", which can be transferred between accounts and used to compensate participant nodes for computations performed. [3] "Gas", an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network. [2] [4] Ethereum was proposed in late 2013 by Vitalik Buterin , a cryptocurrency researcher and programmer. Development was funded by an online crowdsale between July and August 2014. [5] The system went live on 30 July 2015, with 11.9 million coins "premined" for the crowdsale. [6] This accounts for approximately 13 percent of the total circulating supply. In 2016, as a result of the collapse of The DAO project, Ethereum was forked into two separate blockchains - the new forked version became Ethereum (ETH), and the original continued as Ethereum Classic (ETC). [7] [8] [9] Ethereum was initially described in a white paper by Vitalik Buterin , [10] a programmer involved with Bitcoin Magazine , in late 2013 with a goal of buildin 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 >>

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 >>

Bitcoin Rival Cryptocurrency Ethereum Hits Record High

Bitcoin Rival Cryptocurrency Ethereum Hits Record High

Ether, the digital currency of the ethereum blockchain, made significant gains on the day of the Thanksgiving holiday. The cryptocurrency hit an all-time high of $425.55 Thursday, according to data from industry website Coinmarketcap. This broke a previous record high of $414.76, which the digital currency's price reached in June. Ether has risen by more than 5,000 percent since the start of the year. It is the second-largest cryptocurrency, with a market capitalization of more than $40 billion. The rally followed a prediction from billionaire investor Mike Novogratz that ether would hit $500 by the end of the year, while bitcoin reaches $10,000. Novogratz said that investors are pouring into cryptocurrencies like bitcoin and ether because of the lack of trust in financial institutions following the 2008 crash. Meanwhile bitcoin cash, a virtual currency that resulted from a split in the original blockchain earlier this year, was also rallying. It soared as much as 19 percent Friday, edging as high as $1,789.05. The bitcoin spinoff briefly dethroned ether as the second-largest digital currency earlier this month. Ether continued this rally into Friday trading, and reached a renewed record high of $450.23 at 10:30 a.m. ET. WATCH: Six ways to protect your bitcoin and ethereum investments from hackers Continue reading >>

Ethereum Is Spiking As Bitcoin Splits In 2

Ethereum Is Spiking As Bitcoin Splits In 2

Ethereum is spiking as bitcoin splits in 2 Bitcoin' s future is yet to be decided, and Ethereum is gaining on the uncertainty. Ethereum, the second most popular cryptocurrency byvolume, is up 9.15% in early trading Tuesday ,trading at $224.34. That is down 43.22% from its high of $395.13 on July 12. Ethereum is rising on the deadline for bitcoin's "hard fork." Bitcoin has been in a years long "civil war" over the future of the platform. Bitcoin users are unhappy with the slowness of the platform but disagree over how to fix it. One plan, known as Segwit2x, was the most popular solution, and was set to go live at 8:20 am August 1. But, that was before a rival plan, called bitcoin cash , came out of nowhere and became really popular. Bitcoin cash replicates all of bitcoin's history on a new platform and speeds things upby increasing the size of blocks by eight times. Regardless of what happens with the Segwit2x plan, bitcoin cash will likelylower the value of the original bitcoin platform. Because bitcoin cash replicates bitcoin's history, users of bitcoin will automatically receive bitcoin cash equivalent to the number of coins they had on the Bitcoin platform. This could double the value of users wallets, but is more likely to dilute the price of Bitcoin so the combined value of bitcoin and bitcoin cash total the previous value of bitcoin platform. That uncertainty surroundingbitcoin is leading people to back away from the platform entirely, causing its price tofall and Ethereum's to rise. Ethereumis up 17,94.49% over the past year. Continue reading >>

Ethereum Briefly Crashes 20% To 7-week Low Amid Worries About Rival Bitcoin's Future

Ethereum Briefly Crashes 20% To 7-week Low Amid Worries About Rival Bitcoin's Future

Ethereum briefly crashes 20% to 7-week low amid worries about rival bitcoin's future Ethereum leaped several thousand percent this year to a record in June. Prices have been falling steadily since then. Bitcoin prices also fell Sunday amid concerns about a potential split in a few weeks. Prices of digital currency ethereum plunged more than 20 percent Sunday morning, amid concerns about the recent price surge and the future of bitcoin. Ethereum hit a low of $130.26 around 9 a.m., ET, down 22 percent from Saturday night's prices and the lowest since May 27, according to TradingView charts of Coinbase data. As of midday Sunday, ethereum traded near $159, down about 60 percent from a record $420 hit on June 12, but still up about 1,800 percent year-to-date. No specific reason for the move was apparent. Digital currency experts pointed to a combination of factors, including worries about a potential split in bitcoin and blockchain startups possibly selling the large amounts of ethereum they have raised in the last several weeks. Known as initial coin offerings, the fundraisers have gained about $1.2 billion this year, with about $600 million raised in the last 30 days, according to a July report from financial research firm Autonomous NEXT. Bitcoin also dropped, falling about 12 percent from above $2,000 to below $1,800 Sunday morning, before recovering to trade near $1,938 as of 1:07 p.m., ET, according to TradingView. Bitcoin has doubled in value this year. Andreas Antonopoulos, author of "Mastering Bitcoin" and a teaching fellow for the masters in digital currencies program at the University of Nicosia, attributed the drop in the cryptocurrencies' prices to a pullback after a "rapid 1,500 percent rise in two years, especially the last three months" according to a Sunday 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 >>

Don't Panic, But Your Bitcoins May Just Vanish Into The Ether Next Month

Don't Panic, But Your Bitcoins May Just Vanish Into The Ether Next Month

The community-driven organization overseeing Bitcoin on Wednesday warned that any Bitcoins received after Monday, July31, 2017 at GMT-0700 may vanish into thin air or be rejected as invalid. Bitcoin.org said that at the end of the month, Bitcoin confirmation scores a number that represents the difficulty of altering the associated transaction may become unreliable for an unknown period. "This means that any Bitcoins you receive after that time may later disappear from your wallet or be a type of Bitcoin that other people will not accept as payment," the group said. The reason for this "potential network disruption" is Bitcoin Improvement Proposal 148 (BIP148), which describes a "user-activated soft fork" (UASF). It's an effort to implement a code revision referred to as a Segregated Witness , or SegWit, a method for separating signature data from transaction identifier data in a Bitcoin transaction. Doing so offers a number of ostensible benefits , including increasing the Bitcoin blocksize, limiting the extent to which transaction data can be modified by third parties, and simplifying scripting upgrades. The SegWit operation depends on the consensus of Bitcoin miners. If a majority of the Bitcoin miners signal their support through their mining activity, the change should become active across all compatible Bitcoin clients. But if BIP 148 is only embraced by a minority, the blockchain could split. That would create a situation where BIP148 Bitcoins and legacy Bitcoins would be incompatible. In an email to The Register, Bitcoin contributor Dave Harding explained, "The development team for SegWit, called Bitcoin Core, released it in late October 2015 with an activation method used for a previous successful Bitcoin upgrade. The method required Bitcoin miners signal that Continue reading >>

Ethereum Vs. Bitcoin: Which Is The Better Second Half 2017 Investment?

Ethereum Vs. Bitcoin: Which Is The Better Second Half 2017 Investment?

Ethereum vs. Bitcoin: Which Is The Better Second Half 2017 Investment? The Battle of 2H 2017 Price Supremacy Between Ethereum vs. Bitcoin Will Be Decided in the Technical Trenches Ethereum vs. Bitcoin . Its amazing were even pondering the question about which cryptocurrency will see the better 2H 2017 returns. At the end of 2016, Ethereums currency token ether (ETH) was trading around $8.00/ETH,near the bottom of a range which peaked over $15.00/ETH. Meanwhile, Bitcoin (BTC) was trading in the ballpark of 100 times ethers price, onthe cusp of a new major up leg.Both were in two different leagues. But Ethereum has since exploded onto the scene in 2017, vying with Bitcoin for crypto supremacy. Which becomes the better 2H 2017 investment will depend less on sentiment this time around, and more on technical inner workings which make both cryptocurrencies tick. Specifically, the inner workings in which I speak of involve the much-anticipated result of Bitcoins core software upgrade on August 1, 2017. This is the so-called user activated soft-fork (UASF) deadline, which is fast approaching. The reasons for the upgrade trace back to Bitcoins origins. At the beginning, daily average Bitcoin transactions totaled in the hundreds, then the thousands.At previousrates, Bitcoins 1MB maximum block size could reasonably handle the volume of transactions is a respectableamount of time(although this was still measured in minutes, as opposed to the seconds most retail consumers are accustomed to). But as popularity exploded, so have transaction processing times and fees. Bymid-2017, daily average Bitcoin transactions total around 350,000 and payment confirmation times are becominguntenable. On April 24, 2017, they surpassed 24 minutes, and its not uncommon for confirmations to take over Continue reading >>

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