Ethereum Istanbul Hardfork is Live Now

Ethereum Istanbul Hardfork is live now with six Ethereum improvement proposals (EIPs). The network officially conducted the Istanbul fork to block number 9,069,000.

09 December, 2019 | AtoZ Markets – Ethereum is one of the world’s most popular networks for smart contract deployment, and decentralized application development (DApps), has undergone a hard fork. The system update has added new features and improvements to the existing solution.

Ethereum’s Istanbul Hardfork is Live Now

The Ethereum network has undergone its long-awaited hard fork called Istanbul. It held at block number 9,069,000 and represents the third network-wide upgrade in 2019. This is the eighth hard fork that Ethereum’s blockchain goes through since its inception, the last of which is Constantinople.

As is always the case, Istanbul is presenting Ethereum Improvement Proposals (EIPs). This time, there were 11 EIPs proposals, while only six of them were selected for implementation, according to an official post.

Gas Costs

  • Increased Resilience Against Denial of Service Attacks (DDoS) 
  • Interoperability with cryptocurrencies based on proof-of-work.

One of the most exciting accents is the increased interoperability between Ethereum and Zcash. Besides, further changes are made to exploit codes to improve the scalability performance of solutions. That is based on unconscious privacy technology such as SNARKs and STARKs.

The solution itself was simple. Ether-core developer Jameson Jameson said in the Gitter “AllCoreDevs” messaging platform that if Parity customers failed to update in time, a new channel could develop, causing double expenses.

“Parity represents about 23 percent of the network and is commonly used by major miners and exchanges,” said Jameson Friday. “I’m afraid one or two big exchanges may stay on the old fork, and one or two large mining pools exploit the old chain. This also causes confusion and, in a more serious case, doubles the expenses. “

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What Should Users Do?

According to the official statement, people who hold or trade Ether through a mobile wallet, hardware wallet, cryptographic exchange system, have nothing to do. However, if the service user has specific instructions, users should make sure to use them.

The Node runners, meanwhile, had to update their software to a client version of Ethereum, which is “fork ready” for December 1st.

However, the hard fork came from the Ethereum client, Parity. They have posted a tweet for Parity Ethereum users to implement a patch on the pre-released update before the hard fork occurs.

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