November 27, 2022

Ethereum cryptocurrency successfully implemented Istanbul hard fork

Ethereum cryptocurrency successfully implemented Istanbul hard fork

On the Ethereum blockchain, a hard fork called Istanbul was performed that night. Block 9,069,000 was mined at 03:25 Moscow time, with which six separate updates were activated in the network of the second largest cryptocurrency.

Istanbul is the eighth hard fork in Ethereum history and the third in the last year - in February, St. Petersburg and Constantinople.

Users of cryptocurrency exchanges and wallets do not need to do anything in connection with this update, unless they receive specific instructions from the developers of the corresponding services.

Miners and node operators must use the latest software version. Otherwise, they will remain in the old chain, while exchanges and other ecosystem participants will conduct transactions in the new one.

Developers have to make sure that their smart contracts work as intended after the introduction of the new rules, and if necessary, update them.

In total Istanbul includes six offersto improve Ethereum (EIP), which are aimed at countering DDoS attacks (EIP 1344), ensuring compatibility with other cryptocurrencies based on the Proof-of-Work mechanism and the equihash hashing algorithm, for example ZCash, (EIP 152) and changing the principles of gas calculation ( EIP 1108, 2028, 2200).

Shortly before today's updateIt is known that the developers of the second most popular Ethereum Parity client did not implement in their software all the procedures necessary for the nodes to function on the new network, and therefore an urgent update was released on December 5. In general, according to Ethernodes, readiness for hard fork was about 50%.

Ethereum cryptocurrency successfully implemented Istanbul hard fork

According to Etherscan, the blocks in the Ethereum network continue to be released stably after the upgrade. The price of cryptocurrency at the time of publication is $ 148.70, almost unchanged over the past day.

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