Ethereum Announces to Perform Istanbul Hardfork In December
October 26th, 2019
The Ethereum Foundation has proposed to initiate its anticipated “Ethereum Improvement Proposal (EIP) 1884. As a result of this planned development, Ethereum has plans to launch its latest hardfork for Instabul on the 4th of December, 2019.
Ethereum Instanbul Mainnet Lanches In December
The Istanbul Mainnet was decided upon at the Ethereum Foundation Core Developer meeting that ended yesterday. According to a Danno Ferrin, blockchain protocol engineer at ethereum venture studio ConsenSys,
“Based on the calculations, I expect that we will launch Istanbul’s Mainnet at 9,056,000 blocks.”
As the launch date of the Ethereum Instanbul Mainnet remains uncertain, the Ethereum Core Developers meeting concluded by indicating that if peradventure the Mainnet doesn’t go live in December, due to other matters arising, there would be a month postponement, a situation by which the Mainnet would be launched latest by 8th of January, 2020.
“If something happens and we need to change the date and time For example, in the case that we may have to create a new Client (Client) and must have everyone install the Client that we created this new We will postpone the activation for only 4 weeks if necessary, “
The Foundation has previously released a Mainnet tagged Constantinople. At the time, the release had also been postponed due to unforeseen technical issues by which the Mainnet release could only last for 48 hours. Therefore, the Ethereum Developers believe it is necessary to set aside a considerable period of time to deal with necessary technical problems before the Mainnet eventually goes live. According to Piper Merriam,
“At this time no problem has been detected that it is unable to launch Istanbul’s Mainnet during the first week of December. We just set aside dates for the unexpected. “
EIP 1884 Upgrade Will Cause Higher Gas Fees
The EIP 1884 upgrade, as fashioned is designed to increase the gas fee on the network. This is necessary due to little deficiencies and imbalances seen on the network. As data increases, the cost of balancing the network to the most recent information registered on it also soars. However, the gas fee has remained the same. This amounts for a budget deficit by which it becomes necessary to release a version which expresses the need for more gas fees.
The Foundation, during the recent Devcon 5 had discussed issues relating to its version 2.0. Cire developers of the network and major executives had expressed enthusiasm ahead of the development and also revealed the major difficulties faced in making convergent decisions.
Ethereum co-founder also revealed details relating to the much anticipated Ethereum 2.0 upgrade. In a report by coingape,
The eth1 chain technically continues but it is valueless; eventually it will die off when the difficulty ice age hits.