Ethereum 2.0 to Introduce First Hard Fork Update

Ethereum, a global leader in providing decentralized smart contracts with its native token of the same name, will soon introduce a new HF1 upgrade. Vitalik Buterin, the co-founder of Ethereum, announced on 15 February that it is the first hard fork update.  According to his blog, the upgrade aims to achieve three vital tasks. Firstly, it aims to extend the assistance of light clients. This shall help enable the nodes to work through cell phones. Secondly, some issues at the grass-root level will be secured, which weren’t addressed earlier because it would have caused a delay during the initial launch. And lastly, it will keep a check on the hard forking system with a step-by-step process instead of implementing significant changes all at once.

According to the reports, this development help design innovative trust portfolios internally without depending on other partnerships. The transformation for light customer support will be integrated via timing committees, special teams that meet the task of designing innovative signatures to identify the appropriate string to be used.

Furthermore, it will also target choice rules and deliver the necessary first Ethereum hard fork update specifically in those areas that are prone to reorganization attacks that may take place when miners attempt to eliminate the existing blocks. The blog acknowledged that the loopholes have existed over some time and will now be dealt with via HF1 upgrade, especially those areas that may be susceptible to external attacks.

Vitalik Buterin’s report also suggests that, on the empirical front, HF1 integrates innovative and effective ways of slashing and inactivity protocols. A certain threat looms over the existing version of Ethereum 2.0, which may be vulnerable to degradation of capital because of inactivity or because minority fork could be supported, which in turn could face the consequences of being slashed.

Earlier, the risk of inactivity leakages existed due to frequent disconnections and total collapse of the internet connection, which further delayed home staking. With this new update, the stakers will be able to work through the internet’s inconsistencies. HF1 is set to bring about massive reform in these inactive areas, which means that the stakers that went through 10 outages in 6 minutes for the length of one hour will still hold a major part of the function if we compare it with the total shutdown of the system for the same amount of time.

In the inactivity leakage area, the change will be evolutionary instead of sudden, while the focus will be offline nodes, which will experience depreciation in the value. This depreciation will continue to happen till the prescribed security level is met. It is also clear that the HF1 update will allow smooth working on the network and keep a check on malicious activities.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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