A major Ethereum upgrade is imminent, here are a few key points to keep in mind
first level title
Ethereum Istanbul looms
According to Istanbul Countdown, the eighth hard fork of the Ethereum blockchain is just around the corner, and it will happen in a two-week period around December 6. With a transitional fixed block height of 9069000, network upgrades are one of many paths to Serenity or ETH 2.0.
ConsenSys founder Joseph Lubin released an update detailing the changes taking place on the network.
With the implementation of 6 new EIPs, the fork will adjust the computational cost of opcodes, make layer 2 solutions more performant using SNARKs and STARKs, enable zCash interoperability, and more.
To improve security, interoperability, and reduce network costs, six Ethereum Improvement Proposals (EIPs) will be implemented.
The first is EIP-152, which enables easier interoperability between Ethereum and Zcash, among other Equihash-based proof-of-work tokens. This is achieved by implementing the Blake2 hash function. EIP-1108 deals with precompilation, which will help many privacy solutions and scaling solutions.
EIP-1344 is a security improvement that uses chain IDs to prevent repeated attacks between different chains, while EIP-1844 reprices certain opcodes or instruction sets on the Ethereum Virtual Machine to be used between Gas consumption and A good balance between resource consumption.
EIP-2028 reduces the gas cost of invoking data on the chain. This has the effect of increasing bandwidth as more data can fit into each block. Finally, EIP-2200 also addresses gas costs by providing a structured definition of gas metering changes for contract storage.
Ethereum holders will not be affected, but depending on the terms, exchanges and third-party wallets may need to take some additional steps.
ETH price change
ETH price change
Hopefully, these long-awaited network upgrades will bring more security, stability, and scalability to the Ethereum blockchain. Also expect ethereum prices to get a boost as they are currently in the doldrums and have been for the better part of the past year.
Since this time last week, ETH has followed Bitcoin into the digital abyss and is down 20%. It fell to a seven-month low of $140 overnight, but has recovered slightly to return to support at $150 by the time of writing.
The original text comes from newsbtc, compiled by the BluemountainLabs team, the English copyright belongs to the original author, please contact the editor for Chinese reprint.
The original text comes from newsbtc, compiled by the BluemountainLabs team, the English copyright belongs to the original author, please contact the editor for Chinese reprint.
