Ethereum is going through one of their worst seasons, which may not leave until the arrival of Istanbul. The community cryptographic has waited for this update for a long time and now it seems to be the last hope for the criptomoneda. Last week, the second active cryptographic world’s largest lost almost 20% of its value. Although in the last few hours presented a recovery of 2.25%, according to CoinMarketCap, the heavy losses that you have suffered are an alarm for the community. It is for this reason that the majority of the members of the ecosystem cryptographic consider that Ethereum needs urgently the arrival of their update. Or, in other words, that Istanbul is the hope for the recovery of the criptomoneda.
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The imminent arrival of Istambul
The good news for the digital currency is that the arrival of your update will be soon. According to the schedule, Istanbul, turkey, will happen around the 6th of December, within two weeks. Joseph Lubin, the founder of ConsenSys, published an update detailing the changes that will take place in the network: “The network upgrade of Ethereum, Istanbul, turkey, is just around the corner! With 6 new EIP implemented, this bifurcation aligns the costs of computing the operation code, will cause that the solutions for layer 2 to use SNARK and STARK to be most effective, will allow the interoperability of Zcash and more”. According to this information, with the update will be implemented six improvement proposals of Ethereum. These will be aimed to improve the security, interoperability and reduce network costs.
The EIP Istanbul, turkey
The first of these improvements is the EIP-152, which facilitates the interoperability between Ethereum and Zcash. In turn, it facilitates this with other tokens of Proof of Work (PoW) based on Equihash. The EIP-1108 participates in the compilation of the costs of the transaction fees. This will help to a series of solutions of privacy and scale. On the other hand, the EIP-1344 is an improvement to the security of the network. Uses the string ID to prevent replay attacks between different chains. While PID-1844 amending certain codes of operation, or sets of instructions in the virtual machines of Ethereum. This with the purpose of obtaining a good balance between the expenditure of computing power and the consumption of resources. With the EIP-2028 reduces the costs of transaction fees. With this, it is expected to achieve increased bandwidth as more data space in the block. Finally, EIP-2200 is also concerned with the costs of transaction fees to provide a definition of structured net changes of its measurement to the storage contract. It is expected that Istanbul will bring more security, stability and scalability to the chain of blocks of Ethereum. In turn, it is expected that the prices of ETH receive a boost after the update. The following two tabs change content below. I am a student of International Studies, interested in new technologies and their impact on the world. A true believer that tenacity is the foundation of success.