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Ethereum Announces to Perform Istanbul Hardfork In December

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. The post Ethereum Announces to Perform Istanbul Hardfork In December appeared first on Coingape.

Qtum prepares for version 2.0 in its first hard fork upgrade

Qtum is preparing for its first hard fork since its inception back in September 2017. The system upgrade will be focused on the underlying technology behind the protocol. Dubbed Qtum 2.0, it aims to integrate a number of functions and improvements to its blockchain. Qtum 2.0 On Oct. 17, 2019, at block 466,600, a system upgrade in the form of a hard fork will be activated on Qtum’s Mainnet. The improvements are based on a series of recommendations made by developers and community members that tackle certain aspects of its underlying technology. Thus far, four different consensus-related Qtum Improvement Proposals (QIP) have been approved and will be included in the upcoming hard fork. The first will add signature verification to the output script of the contract transaction. At the moment, addresses are required to have a small balance of QTUM in order to send and even receive any given amount of Qtum or QRC20 tokens. This upgrade will improve the user experience of transacting by allowing addresses to send and receive to smart contracts without QTUM balances. The second upgrade will integrate precompiled contracts to the Qtum Ethereum Virtual Machine (EVM). Adding these type of contracts simplifies the development process and reduces the amount of transaction fees (gas) that is spent when using smart contracts. The third improvement to the Qtum protocol is directly related to the Ethereum Virtual Machine. Since Qtum has never gone through a hard fork its version of the EVM is outdated. Thus, this upgrade will allow it to catch up with the new features that Byzantine and Constantinople have brought to Ethereum, enabling more complex applications. Finally, Qtum will modify the difficulty adjustment algorithm of its proof-of-stake (PoS) protocol. The idea is to change the long block intervals to 128 seconds. This will increase the transaction speed on the network as well as improve block rewards for staking wallets by 12.5 percent. CryptoSlate reached out to Jackson Belove, blockchain researcher at Qtum, who said that the code is now ready for launch after having been “extensively tested” over the last six months. However, the upgrade will only apply to Qtum Core wallets. “The [upcoming] hard fork only applies to the Qtum Core wallets Qtum-Qt and qtumd, no other wallets. While updated wallets will make the hard fork automatically, users that don’t update in time will see their Qtum Core wallets disconnected from the main network, will not be able to make transactions, and (for staking wallets) may see their coins staked on a split chain, where they are difficult to recover,” explained Belove. Despite the proximity of Qtum’s systemwide upgrade market movement for QTUM has been lackluster. In fact, it recently hit levels not seen since December 2018. Qtum technical analysis Qtum made it back to the $1.42 support level. This represents a complete retracement of the 312 percent price increase that this crypto experienced throughout the year. Although the bears seem to be in control, the upcoming hard fork may bring some bulls with it. A double bottom could be forming on Qtum’s 1-day chart. This technical pattern develops at the end of a correction, signaling a change in trend and a reversal of momentum from bearish to bullish. If validated, Qtum could be preparing for a major price move that takes it to even higher price levels than the ones seen so far this year. Everything will depend on the success of Qtum 2.0 and whether the event stimulates buying pressure. If Qtum is indeed bound for an upswing, it could find resistance on its way up around $2.14, $3.40 and $5.92. However, if the selling pressure behind this cryptocurrency increases it will likely make a new all-time low. Breaking below the $1.42 support cluster could trigger a 20 percent correction down to $1.13 or even lower. QTUM/USD by TradingView Ready for launch Qtum is on the cusp of its first hard fork, which will be directed at improving the underlying technology behind its protocol. It will add new smart contract capabilities, reduce long block spacing, and give staking wallets a 12.50 percent raise. As stated by Jackson Belove, the code is ready to be launched on the Qtum’s Mainnet after several months of “planning, preparation and testing.” The system upgrade will be activated on Oct. 17, 2019, and hopefully, will give Qtrum the boost it needs. The post Qtum prepares for version 2.0 in its first hard fork upgrade appeared first on CryptoSlate.

Ethereum Ropsten Testnet Splits After the Early Launch of the Istanbul Upgrade

Coinspeaker Ethereum Ropsten Testnet Splits After the Early Launch of the Istanbul UpgradeEthereum testnet Ropsten split following the release of the Istanbul upgrade. This occurred because the upgrade was expected on approximately October 2nd, 2019 and at a block height of 6, 485, 846. The upgrade was released about 48 hours earlier on September 30th at around 3:40 a.m UTC.This, of course, has expectedly caused quite a bit of difference in terms of block confirmation times. Ethereum foundation community manager indicated in a tweet that there is no cause for alarm in this regard.Looks like there is an issue with the Ropsten Ethereum testnet after it hit the #Istanbul block. This is what testnets are for! Be aware that Ropsten will be unstable until this all plays out.— Hudson Jameson (@hudsonjameson) September 30, 2019Jameson further confirmed that many of the miners were caught in between chains and as such the hard fork occurred on a natural basis due to this fact. Meanwhile, Péter Szilágyi who is the team lead at the Ethereum Foundation indicated in his tweet that the hard-fork is occurring due to a huge miner going in the opposite direction of Istanbul.The Ropsten #Ethereum testnet Istanbul forking is a bit unstable due to a huge miner pushing the non-forked chain.If you run Geth, you can stabilize your peerset via `–whitelist=6485846=0x43f0cd1e5b1f9c4d5cda26c240b59ee4f1b510d0a185aa8fd476d091b0097a80` to enforce this block.— Péter Szilágyi (@peter_szilagyi) September 30, 2019While this hardfork may cause alarm among some who think that this may be the beginning of the end for Ethereum, last years’ Constantinople upgrade also had its issues as well on the Ropsten testnet.The integration of the upgrade with other off-chain solutions such as Raiden caused a postponement of the upgrade. However, it came back on stream on the testnet and was applied to the mainnet as well. The End of the DAO as We Know itDecentralized, Autonomous Organizations otherwise referred to as DAOs may not exist after Istanbul goes live on the Ethereum mainnet after testing. This indication was made by Jorge Izquierdo who is the Chief Technology Officer of Aragon One which is a governance platform for smart contracts. He said:“Up until now, DAOs could receive ETH from one another. This will no longer be possible after the Istanbul hard fork.”This, of course, may not go down well with some who wanted to take the Ethereum blockchain to the next level through other types of models that may have worked differently from the DAO model.Meanwhile, Aragon expects to lose about 680 smart contracts causing the project developers to find a workaround the system or risk a loss of confidence in the system itself. Izquierdo continued:“The issue were going to have hasn’t been deemed important enough for this hard fork not to happen, which from our point of view is unfortunate [but] it’s a hard balance we understand.” In all, the Istanbul upgrade is expected to create a smoother blockchain and will be more robust in transactions processing and confirmation per block. This is something that the Vitalik Buterin has been after for a while now.Ethereum Ropsten Testnet Splits After the Early Launch of the Istanbul Upgrade

Coinbase Adopts Ethereum’s Constantinople for Facilitating Merchants USDC Payments

Coinbase, a San Francisco-based cryptocurrency exchange is taking advantage of Ethereum’s latest Constantinople upgrade to enable thousands of merchants around the world to accept USD Coin (USDC) through the Coinbase Commerce app, according to reports on August 14, 2019. Coinbase Integrates Constantinople Per sources close to the matter, Coinbase has adopted Ethereum’s Constantinople to enable thousandsRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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Coinbase Is Using Ethereum’s (ETH) Latest Upgrade To Help Merchants To Adopt USD Coin (USDC)

Coinbase Commerce, a special platform designed by Coinbase to be used by merchants, is using Constantinople, Ethereum’s most recent upgrade, to let its retailers use USD Coin (USDC). The platform, which helps investors who want to receive crypto payments, has recently added USDC, which is based on the Ethereum technology. Bojan Joveski, a software engineer […]
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NEO, VeChain Shoots Up As China Warms Up To Blockchain

Cryptos with links to China are seeing huge leaps as the rest of the market remains relatively quiet, thanks to some recent events that suggest that the Chinese government might be finally ready to open the doors for cryptos. It’s notable that some time back, China banned all crypto-related activities in the country, prompting various exchanges in the country like Binance to leave. A recent announcement by the Chinese president seems to have fueled a rather serious price surge for cryptos like VeChain and NEO. Granted, the two cryptos have been known to have strong links to China. China’s President publicly endorsed Blockchain development in the country, at the 18th collective study of the Political Bureau of the Central Committee held in China, President Xi Jinping delivered a speech to the members of the Political Bureau of the CPC Central Committee where he broadly stressed the importance of Blockchain as an independent innovation for technological breakthrough that must be developed in order to speed up its technological use case in the country. China Will Invest In Blockchain In a new report, it’s revealed that China is planning to invest around $2 billion in blockchain projects within the country over the next few years. This announcement caused a ripple effect, with almost the entire crypto market feeling the push. NEO gained by over 50% while VeChain has seen a cool 100% upsurge since Xi spoke. While the rest of the market also reacted positively to the news, the surge wasn’t as intense as that seen with NEO and VeChain. On average, the rest of the market managed to only gain around 17% following Xi’s pro-blockchain announcement. However, it’s still agreeable that the announcement has been very well received in the industry. In fact, following the news, Binance has expressed interest in opening up a branch in the Chinese capital, Beijing.  Chinese Media Publishing Crypto And Blockchain Content  Besides the Chinese government supporting the blockchain technology, the media, too, seems to have developed some love for cryptos. A state-owned media outlet has been publishing crypto and blockchain-related content in an effort to educate members of the public about them. In fact, one of the publications was entirely dedicated to Bitcoin and occupied the outlet’s front page.  The post NEO, VeChain Shoots Up As China Warms Up To Blockchain appeared first on ZyCrypto.

Alibaba to Reward Free Bitcoin Through Shopping App Lolli

The pace of development of the crypto sector has been nothing short of breathtaking over the past few years, and now, free Bitcoin rewards are even becoming a real thing. In a new development that would come as a massive boost for Bitcoin and the crypto space in general, Chinese e-commerce behemoth Alibaba has now got involved in the space. The company has created a partnership with Lolli, a shopping rewards app, and by way of that partnership, Alibaba shoppers can claim 5% of their rewards in the form of Bitcoin. Major Details In ... ﾿ Read The Full Article On Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
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NEO Spikes 100% Thanks to China’s Surprising Blockchain PivotNEO Spikes 100% Thanks to China's Surprising Blockchain Pivot

NEO has surged 100% over the past few weeks. The bullish sentiment behind this cryptocurrency rally seems to be related to China’s decision to embrace blockchain technology. One trader says NEO may have a bright forecast. NEO, one of China’s most prominent blockchain projects, has been on a roll since Chinese President Xi Jinping announced […] The post NEO Spikes 100% Thanks to China’s Surprising Blockchain Pivot appeared first on China's blockchain pivot has launched NEO, a cryptocurrency nicknamed the "Chinese Ethereum," to a phenomenal 100% rally.

Ant Financial of Alibaba Opens Up Blockchain Testing for Small and Medium-Sized Businesses

The fintech Alibaba Group firm Ant Financial is in tests for a blockchain network meant to help small and medium businesses. Its senior director for technology and business innovation Jieli Li has spoken at the Wuzhen World Blockchain Summit. He said that the technology for the Ant Blockchain Open Alliance should be live soon, three […]
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