Ethereum successfully completed its Muir Glacier Hard Fork update on January 2nd 2020, at 8:29 am (UTC). However, some of the major crypto exchanges, such as Coinbase, Bitfinex, Huobi, and Poloniex have still not declared their support.
02 January 2020 | Ethereum news – The ninth Ethereum Muir Glacier hard fork has been activated today. This time, however, the hard fork is not expected to go quite smoothly. As AtoZMarkets Ethereum hard fork report pointed out a few days ago, only a few exchanges had announced their support for the upgrade due to the holidays.
Some Exchanges Declared their Support for Muir Glacier
So far, among the main exchanges, only Binance, Kraken, Bittrex, and Bitso have declared their support for the Ethereum Muir Glacier hard fork. Other exchanges, such as Coinbase, Bithumb, Huobi, Poloniex, Gemini, and Bitfinex have still not announced their support for the new Hard Fork. While support only seems to be a matter of time, there will be a price impact without any doubt.
Developers and node operators had to upgrade before New Year’s break. But it looks like many of them have not yet done so. According to Ethernodes.org, only 80% of clients are ready and synchronized over the network. That means, 624 clients are still not ready for the imminent network update. The last fork, Istanbul, was accepted much more slowly. In early December, only a little over 60% of all nodes were updated at the time of activation. The others updated their software afterward.
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The Ethereum community has been impatient with core developers, as the delay has viewed as larger procrastination for ETH 2.0. A discussion of the Muir Glacier highlighted some of the community’s dissatisfaction with those who make the big decisions.
“This EIP was as final AFTER the Ethereum Foundation approved the hard fork of Muir Glacier on its blog. The order of these two events indicates that EF does not recognize the process of community contribution when it unilaterally implements major breakthrough changes. “
Is Ethereum Muir Glacier Hard Fork a Success?
Ethereum activated the Muir Glacier hard fork at block # 9,200,000. And Joseph Delong, a senior software engineer for the Ethereum incubator ConsenSys confirmed the hard fork. However, the fork did not run without problems. Delong also reported that Nethermind forgot to update its nodes, which resulted in a “synchronization” error.
According to Etherscan, Spark Pool created the first block after the Muir Glacier hard fork and a total of 132 transactions included.
Despite Ethereum Muir Glacier hard fork activation, the price of Ethereum is still in crypto winter. Since the end of June 2019, the price of ETH has fallen from just above 330 USD to around 130 USD currently. An important milestone for Ethereum could be the launch of Ethereum 2.0. Phase 0 with the Beacon Chain should start in the first half of 2020. In accordance with general market sentiment, the price of ETH currently shows a lateral trend of – 0.8% over the last 24 hours.
What is Muir Glacier Hard Fork?
Muir Glacier Hard Fork is an Ethereum fork aiming to delay Ethereum’s difficulty bomb. Ethereum difficulty bomb is an algorithm integrated into the ethereum blockchain that may significantly increase the difficulty of mining a block. With the Ethereum Muir Glacier hard fork the developers aim to delay it.
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