On December 7, the test network of Ethereum was upgraded. This hard fork marks the official start of the second phase of Ethereum metropolis. Investors are very concerned about whether the hard fork can make eth price explode again. Next, check the app to review the previous hard fork of Ethereum.
After the successful pre-sale of Ethereum in July 2014, the development of Ethereum was formalized under the management of eth dev, a non-profit organization. Vitalik buterin, Gavin wood and Jeffrey wilcke, as three community directors, managed the development of Ethereum according to the contract of Ethereum Suisse.
In June 2016, the Dao, a decentralized autonomous organization in Ethereum, was attacked by hackers and the Ethereum currency with a market value of 50 million US dollars was transferred. As the original program does not allow hackers to extract it immediately, "whether to modify the program and recover the loss" tests the Ethereum team.
On July 20 of the same year, Ethereum made a hard fork, and all the Ethereum coins returned to their original places. The blockchain that did not accept this change became Ethereum classic. After this bifurcation, the Ethereum and the Ethereum classic have carried out several bifurcations respectively. The most recent one, the third phase of Ethereum on October 16, 2017, upgrade metropolis, which includes Byzantium and Constantinople.
"Metropolis" has brought a lot of important features to Ethereum. It's impossible to introduce so many features at one time. After all, developers have limited energy. That's why Ethereum has to release "metropolis" through two stages, which are "Byzantium" and "Constantinople".
After several delays, "Byzantium" hard bifurcates around block 4370000. "Byzantium" introduced a lot of new features, mainly including: 1. ZK snarks; 2. "Revert" function and "returndata"; 3. Abstract account.
The main feature of Constantinople is to smooth out all problems caused by Byzantium, and introduce the mixed chain mode of POW and POS.
We know that there are many factors that affect the price. The value of the product itself, the macro environment, investor sentiment, and the attention of large funds will affect the price of the product in the short term. Before investing in any digital asset, we need to do some research by ourselves. If you want to invest in eth, you can download the currency checking app (http://download.bchacha.net/index.htm L) get investment advice.
Although the short-term price is unpredictable, we can see that Byzantium has brought so many changes to Ethereum, and the implementation of ZK snarks is also a brave progress. The coming "Constantinople" and its POS will surely become something that everyone in the cryptology world will pay attention to. It is absolutely revolutionary on the way of Ethereum decentralization!
As a whole, Ethereum has occupied half of the bottom of the blockchain application, which not only has the advantages over bitcoin, but also has the positive effects brought by the Ethereum Enterprise Alliance (EEA), which is composed of large enterprises including JPMorgan Chase and Microsoft. If Ethereum continues to improve and optimize, it will be in the future.
This hard fork will greatly improve the performance of Ethereum, mainly reflected in the following aspects:
(1) code optimization that can improve the processing time of developers;
(2) a fairer pricing structure change for smart contract data;
(3) the improvement of some codes can make the two-layer network expansion schemes such as state channel more easily happen in Ethereum;
(4) and the revision of Ethereum economic policy. In view of these code changes, it may have a significant impact on the progress of Ethereum, the second largest blockchain project, in the next few years. Constantinople's upgrade deserves our in-depth study.
Fortunately, Constantinople's five EIP improvements have all been proposed, which will give Ethereum fans and critics a better understanding of the changes.
"Constantinople" is a very important upgrade. In addition to the optimization of improving the platform efficiency and further reducing the cost, the most important change is to introduce the pow + POS hybrid consensus mechanism to complete the smooth transition from POW to POS. If you have any questions, download the coin checking app (http://download.bchacha.net/index.html), go to the community to find out the specific situation, and there will be a God for you to popularize science.
As the Ethereum network already has a considerable volume, changing the consensus mechanism is not only a technical issue, it will involve the interests of all participants in the ecology, so it cannot be upgraded in one step in the implementation, and there needs to be a transition, which takes place in the "Constantinople of metropolis" stage. Therefore, the upgrading of Ethereum "Constantinople" plays an important role in connecting the past and the future. Now, all we need to do is wait for the official arrival of this upgrade.