Can the Istanbul upgrade revive the Ethereum Prize?
There was hope about a week ago when Ethereum began to move independently of Bitcoin. However, hope was dashed this week as ETH crashed countless times before with his big brother. The upcoming Istanbul upgrade will improve the technology – but if it has the same positive impact on the ETH Prize
Ethereum loses again
ETH had a hard week. From the high of Today, the cryptocurrency is moving around a five-month low of if Bitcoin revisits the 7th 25 0 $ region , Returning to is, or ETH moves independently, which is just as unlikely.
A rescue operation through Istanbul?
Network and Blockchain upgrades are typically bullish for crypto projects, but the newly printed rule book does not apply to altcoins this year. Ethereum plans to launch a network upgrade called Istanbul within the next few months. There will be a number of “Ethereum Improvement Proposals” (EIPs), but they will need to be tested on test networks before a hard fork on Mainnet occurs.
Istanbul is the 8th Ethereum Network Upgrade to hit the test networks Ropsten and Goerli next month, according to a media post. In November and December the testnets Rinkeby and Kovan will be introduced before the beginning
The upgrade includes EIPs that address the following issues: reconciling the cost of opcodes with their computational cost and improving resilience against denial-of-service attacks. Lower cost Layer 2 solutions based on SNARKs and STARKs, which enable Ethereum and Zcash to interact (Atomic Swaps), introduce more creative features for contracts.
Vitalik Buterin, co-founder of Ethereum, discussed developments in the entire Ethereum ecosystem at the “Ethereal Summit” earlier this month. ETH 2.0 clients were successfully connected a few weeks ago during the first of these interoperability tests. This is an important milestone for the Ethereum development process. Buterin:
“The next step is to make sure they can maintain a public network on a large scale. We’re talking about potentially hundreds of thousands of examiners grouping a large number of transactions. “
Discussion revolved around decentralized funding – the next major application for Ethereum.
The idea that anyone, anywhere in the world, can have access to a system that allows them to pay each other and choose their own financial commitment is a really strong thing. It’s something that many people can not access. ”
The long term potential for Ethereum is enormous, so will be as 2019. Patience is the key for ETH holders at the moment.