blockEthereum Developers Are Looking to Make Big Changes Soon

ICOBox co-founder Daria Generalova shares her thoughts on impending Ethereum updates

It appears that a private meeting of Ethereum developers took place at the DevCon4 conference in October to discuss the future of the network. The discussion seemed to focus on accelerating major changes to the network, now rumored to be scheduled for June 2019. Talks of large overhauls have been public for a while but apparently developers are stressing that the impending changes need to be kept private for now to ensure early stage coordination before inviting public feedback.

Ethereum is currently the most popular blockchain development platform and any updates will have industry wide effects. The set of changes in June will likely focus on alterations to Ethereum’s virtual machine (EVM) and changes to the costs of smart contracts by introducing “rent” for storing the contracts. The developers are seeking to make Ethereum more efficient and manageable by making computation more dynamic and storage more compact.

Ethereum creator Vitalik Buterin is reportedly wary of private discussions about the future of the network, calling for as much transparency and community input as possible. Because so many projects are being developed on the Ethereum platform, any changes will likely spark passionate debate and lead to contentious actions. It is believed that the developers are already planning a hardfork because the update will be so significant.

“Rapid innovation is always welcome, but as a community, we cannot be careless in our efforts to push forward. Hopefully, the Ethereum updates will be unveiled sooner than later and uncontroversial. We don’t need another BCH situation” — ICOBox co-founder Daria Generalova