Recently the Ethereum Network upgraded its blockchain with two new updates namely Constantinople and St. Petersburg. After the successful installation of these versions, the rate of adding new transaction blocks to the Ethereum blockchain has increased again in the last week.
As per one blockchain analytics website named Etherscan, the numbers of blocks getting added on the chain and the has increased by over 1,500 blocks within just one day. It seems that the installation of a hard fork has really worked for the network. T is said that this sudden positive change in the system is due to the Ethereum Improvement Proposal (EIP) 1234 which went live last week on Thursday.
This program was built to disable the software called “difficulty bomb successfully. Difficulty bomb was created to make PoS transitions smoother. These are consensus programs. But it started making mining difficult day by day and was slowing down the development of block creation since December 2018.
The Core Ethereum developers are pondering over a new bunch of EIPs to add to the next Ethereum hard fork, which would be called as Istanbul. Not much of information is available on this new hard fork; however, the ex-core developer of the company said at the beginning of this year that it would be active on the blockchain somewhere in the month of October.
Many experts in the market have their own theories and views on different updates. As per the CEO of MyCrypto wallet the creation and installation of the upgraded and hard fork is getting very much tiring and challenging to implement. This happens as the Ethereum platform is adding more and more companies, users and developers to its chain.
He said that he is always cautious when it comes to implementing fork, as it changes many things on the platform and existing ecosystem gets shuffled too. Be it miners, hardware, software exchanges connected, and everything gets affected. It not just MyCrypto CEO but other experts and owners think in a similar way.
Al said and done, and in the case of the recent hard fork implemented on the Ethereum platform, all went good and smooth.