Ethereum (ETH) Sets Tentative Objective For Next Blockchain 

Ethereum Frozen

According to reports, developers have set a January date for a major Ethereum (ETH) blockchain upgrade. The upgrade is the Constantinople Ethereum upcoming network hard fork slated for January 16th. We can recall that this upgrade was originally scheduled for November. Now the network has choosen a January date for the initiative. The upgrade will result in a host of design changes in a bid to streamline the platform’s code and boost its performance.

January 16 May not be the Final Date

While the launch has been set for Jan. 16, reports indicate that this date was reached by a non-binding verbal agreement. Hence, it’s neither fixed nor final. Developers this Friday said the Constantinople Ethereum upgrade may actually be postponed further if there’s a need to do so due to challenges. Lane Retting a developer shared some information about Ethereum’s (ETH) difficulty bomb.

This is an algorithm built-in with Ether’s code. It’s designed to make blocks steadily harder to mine. The algorithm will act as an incentive to encourage regular upgrades in the network. The difficulty bomb will be functional as from Jan. leading to 30-second block times in coming months (precisely April and May).

SEE ALSO:   Crypto Charity: Blockchain Paintings Are Drawing Attention to the Industry

Constantinople delays the difficulty bomb for a further 18 months, while also decreasing the ethereum mining reward from 3 ETH to 2 ETH per block. Additionally, the upgrade features various optimizations to the underlying ethereum code. Whether ProgPoW will be considered for inclusion in the Constantinople upgrade wasn’t discussed. ProgPoW would standardize Ethereum (ETH) mining to only general-purpose hardware. However, developers say the formal specification of ProgPoW code isn’t complete.

Ethereum (ETH) Price Today – ETH / USD

Name Price24H (%)
Ethereum (ETH)
$208.53
-1.43%

Shapeshift CEO, Ether is Better Because of Vitalik Buterin’s Involvement

Shapeshift’s CEO, Erik Vorhees in a conversation with Ran Neuner, speaking as a guest on the CNBC Crypto Trader, shared his views regarding the future of digital currencies and blockchains. Vorhees believes that there are many exciting prospects in the crypto-verse, and beyond the speculation that many individuals tend to focus on.

When Vorhees was asked if he shared the concerns among many crypto proponents that Ethereum (ETH) was scalable or not, he noted that while he feels optimistic about Ether, any result regarding this debate will be a positive one for the digital asset community.

Vorhees talked about what the future holds for Ethereum as a global network. Since the conversation with Neuner came soon after the Vitalik Buterin Ethereum 2.0 conference, Vorhees commented that he “absolutely” believes that Ether could be the “main chain” in the future. For the Shapeshift CEO, the fact that ETH has the largest volume of developers could be a catalyst for making it the blockchain par excellence in the future when it comes to the creation of dApps.

Vorhees Accepts Buterin’s Influence on the Ethereum Network and Beyond

Vorhees believes that Buterin’s influence is one of the factors that make the network stand out. Citing that his importance goes beyond the Ethereum ecosystem, but extends to the cryptographic space in general. However, Vorhees insists that it is certain that even without Buterin, the crypto-verse will still continue its evolution. He concluded by underlining his positive view that virtual assets will get massive adoption in the future, stressing that it is a “gradual” process. Comparing it with the Internet, Vorhees believes that the public must adapt and become comfortable with using new technologies.


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.