Metropolis: Ethereum about to upgrade
There has been a lot of discussion around Bitcoin community during last months, this issue has rely on Ethereum not attracting so much attention lately, but during the next months, Ethereum is going to release a new big upgrade that will honour one more time its position as the second biggest cryptocurrency by market cap.
The new upgrade is called Metropolis and it will go into affect in the next few months some of the features it will bring with it are the ability to send transactions without revealing the senders address allowing anonymous transactions. As well as letting contracts to pay their own gas, a feature that will permit users to interact with an Ethereum based smart contract without actually having ETH in their wallet. Metropolis will also reduce the reward for miners, which is a particularly potential price moving factor.
The many proposed upgrades to the bitcoin network have been controversial but Ethereum’s upgrades usually have a lot more consensus. Ethereum’s founder Vitalik Buterin holds a great influence over the ETH community and so it makes it easier for everyone to get on the same page once he’s given consent.
The Ethereum core developers have clarified in a statement some questions about this new upgrade of the Ethereum network and they showed a specific roadmap for the Metropolis hard fork.
The main announcement they made is that Metropolis will be splitted in two hard forks, called “Byzantium” and “Constantinople”. Right now, the Byzantium hard fork of Metropolis is being prepared. The benchmarks for gas costs will be completed in the next 7–10 days, and once clients have completed the implementation of the Byzantium EIPs (Ethereum Improvement Proposal), the fork will be installed on the Ropsten Testnet that will run for two to four weeks. The hard fork will occur between September, 22nd and October, 27th.
These few weeks, we saw an increase on ETH price provoked by the updates made by the core dev team about their progress. This trend upwards seems that will continue during the next month until the first part of the Metropolis will be activated.
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Originally published at cryptox.club on August 29, 2017.