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Ethereum's Upcoming Istanbul Hard Fork Details Shared By Team Lead

ByBit
  • Vladislav Sopov
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    Péter Szilágyi, team lead for the Ethereum Foundation, has confirmed the date for upcoming Istanbul Hard Fork and details of new Geth release

Ethereum's Upcoming Istanbul Hard Fork Details Shared By Team Lead
Cover image via www.123rf.com

Having been postponed at least three times, the Istanbul Hard Fork release date has been scheduled for December 4, 2019. We recall that the last Constantinople update was delayed by 48 hours before announcing its roll-out. Therefore, Ethereum's global community breathlessly awaits for any information about the upcoming system-wide upgrade.

Hard Fork Hard-Coded

Péter Szilágyi, Ethereum core developer and "fork identifier”, recently shared information about Geth v1.9.7's release. Written in Go, this will be the most widespread implementation on the Ethereum Mainnet. It is the first version of Geth that will initialize Ethereum Mainnet's Istanbul Fork Block 9069000, which is set to arrive on December 4, 2019.

Despite the announcement date, the release appears as proof that things finally took a turn in Ethereum. So it is important for participants of the Ethereum Network to update their Mainnet Geth nodes to v1.9.7 in order to avoid any surprises along the way.

Apart from the Hard Fork initialization, the new release delivers a couple of major fixes and upgrades. To name a few, the release enforces new fork orders to avoid partially initialized private networks that coexist, and puts an end to some of the unnecessary memory copying on the Ethereum Virtual Machine. Several minor bugs are also fixed in the execution of transactions.

Long-Awaited Update

The story of Ethereum Mainnet's Istanbul Hard Fork began in May of 2019, when Ethereum Improvement Proposal (EIP) 2124 was presented by Felix Lange and Péter Szilágyi. It proposed a mechanism for users to identify which node-based software of a computer server in the Ethereum network is running.

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Ethereum Сore Developer Calls Constantinople Least Eventful Hard Fork Ever

Ethereum Сore Developer Calls Constantinople Least Eventful Hard Fork Ever

This eventually evolved into a major system-wide upgrade, which was mainly about data storage on the Ethereum network and mining algorithms. Such an upgrade will increase the computation costs, but will protect the system from potential denial-of-service (DoS) attacks.

The Hard Fork has already met major unforeseen challenges with the Ropsten Testnet. What do you think? Will Mainnet's adoption of Istanbul be a smooth one?

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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.)

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Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff

ByBit
  • Alex Dovbnya
    📰 News

    Gold proponent Peter Schiff thinks that Bitcoin evaporating its 40 percent pump proves that it's a pump-and-dump scheme

Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff
Cover image via u.today

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

Euro Pacific Capital CEO Peter Schiff has come up with a new insult for Bitcoin, calling it "a classic pump-and-dump scheme."

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Peter Schiff Reacts to Sudden Bitcoin Price Drop: "Get Ready for the Dump!"

Peter Schiff Reacts to Sudden Bitcoin Price Drop:

"You're being played"

Schiff continues to assert that Bitcoin's 40 percent pump on Oct. 25 was the result of price manipulations. The fact that Bitcoin's has completely trimmed these gains in just four weeks definitely flies in the face of bulls.

The gold bug explains that the pump was meant "to sucker in" momentum buyers to dump their bags later. This is supposed to be a wake-up call for all buyers.

Earlier, Schiff lambasted Bitcoin holders for not being able to see through the shenanigans of whales who are selling their coins on the verge of a major price.        

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Bitcoin Price Could Drop to $2,000 or Even to $200, According to Peter Schiff

Bitcoin Price Could Drop to $2,000 or Even to $200, According to Peter Schiff

Other bears are waking up 

Mark Dow, the trader who famously shorted Bitcoin at its current all-time high, recently resurfaced on Twitter with a succinct "Bitcoin is dying" tweet, which came in handy right on the verge of Bitcoin's drop to the $7,500 level.     

While some bulls might be tempted to dismiss Bitcoin price moves recorded on the lower time-frames as "noise," the long-term picture is also gloomy. As reported by U.Today, crypto market analyst Willy Woo opined that Bitcoin might not replicate the success of previous halvening cycles due to its unusual bearishness. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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