U.Today Franchise
F2Pool
0
📰 News
957 views

59% of Ethereum Nodes Not Ready for Istanbul Hard Fork

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Vladislav Sopov
    📰 News

    Something strange is occurring in the Ethereum. Nearly 60% of clients have not been updated, and some major market players have remained silent.

59% of Ethereum Nodes Not Ready for Istanbul Hard Fork
Cover image via 123rf.com
Contents

Only three days left before the Ethereum (ETH) network releases the Istanbul Hard Fork during the early hours on the 8th of December. Interestingly enough, the vast majority of clients using the second largest blockchain have not updated to a version that is compatible to the Istanbul Hard Fork.

Why are they Waiting?

According to the Ethernodes analytical tool, only 41.2% of active clients are ready for the upcoming systemwide upgrade. For Geth, this indicator is lower and barely exceeds 40%.

Almost 60 % of Ethereum is not ready for the Istanbul update
Image by: https://ethernodes.org/istanbul

The implementations of Teth, Multigeth, Ethereum Java, and Scraper have failed to develop versions that are compatible with the requirements of Istanbul. The result is that these implementations will not be live on upgraded network. The process of updating clients started almost a month ago with the release of minor clients such as Besu.

The status of upgrades in the sphere of mining pools and service providers reveals a similar story. While some of the top providers such as Infura, Etherscan, Etherchain have updated their features completely, MyEtherWallet has failed to act along the same lines. ZhuZhu and MiningPoolHub, which are among the richest mining pools, have also kept silent.

No Way Back

The situation looks even more interesting due to the fact that Istanbul Hard Fork lacks backward compatibility. If an individual uses an ETH client that is not up to date, then the node client will sync back to the pre-fork blockchain. This blockchain will be incompatible with the new ETH and will be unable to send ether or operate on the post-upgraded ETH network.

👉MUST READ

Ethereum Foundation Release Details on Official Istanbul Hard Fork with All Manuals and Software

Ethereum Foundation Release Details on Official Istanbul Hard Fork with All Manuals and Software

The Istanbul Hard Fork will most likely be the last of the Ethereum 1.0 and will be succeeded by Phase Zero of the brand-new chain, Ethereum 2.0. The upcoming hard fork will be mainly associated with data storage on the ETH network and mining algorithms, and will cover some measures against potential denial-of-service (DoS) attacks.

So, will the fat cats of Ethereum upgrade their software in time? Share your opinions on Twitter!

Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Recommended articles
CLOUD MININGPromoted
0
📰 News
63 views

Bitcoin Price Likely to Surge to $8,200 Before Surprising Bulls: Crypto Analyst

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Yuri Molchan
    📰 News

    A crypto analyst says that Bitcoin follows ‘standard crypto games’ and expects BTC price to surge to $8,200 before making a market reverse

Bitcoin Price Likely to Surge to $8,200 Before Surprising Bulls: Crypto Analyst
Cover image via 123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

After Bitcoin bulls reclaimed the $7,400 level earlier, the flagship currency is holding in the $7,500 area. A crypto analyst says that these are ‘standard crypto games’ – Bitcoin is likely to surge into the $8,000 area before plunging again.

Bulls, get ready to rock - $8,200 on the horizon

At press-time, Bitcoin is swapping hands at $7,544. For a long while prior to that the price was trading flat in the $7,200-$7,300 area.

However, on Friday, the Bitcoin price managed to recover to the $7,500 level.

BTC price CMC
Image via CoinMarketCap

The analyst @CryptoMichNL reckons that Bitcoin is following a standard pattern of the volatile crypto market and is going to please the bulls before giving them a nasty surprise of a bearish reversal.

‘Bitcoin halving is the main catalyst’

The next Bitcoin halving programmed by Satoshi Nakamoto, the Great and Terrible, is to happen in May 2020. Many in the community believe it to accelerate the Bitcoin price surge since miners have not priced it in.

👉MUST READ

Tim Draper Says His $250,000 Bitcoin Price Prediction Is Not Based on Halvening

Tim Draper Says His $250,000 Bitcoin Price Prediction Is Not Based on Halvening

Doubts about the BTC halving impact

However, a co-founder of the Morgan Creek Digital Jason Williams, the less Twitter-active than his colleague Anthony Pompliano, reckons that the Bitcoin price is likely to dip after the halving. The thing is that miners are going to get twice as fewer BTC for each new block than now and many of them are going to have to sell their BTC to pay the bills.

Besides, chances are high that small mining pools will quit since mining will stop giving them enough profit.

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

Recommended articles
CLOUD MININGPromoted