According to an internal paper published on November 23, the developers of Ethereum are quietly discussing an update that has the potential to increase the capabilities of technology more aggressively in the short term.
The document published in Github describes four meetings that took place at the end of October at the Devcon4 conference. The minutes refer to the update "ethereum 1x", which could possibly be updated in June 2019.
The could see the replaced Ethereum virtual machine
The document was published by Greg Colvin, an ethereum virtual machine engineer. Even if they had not previously been disclosed, a participant who wished to remain anonymous verified the minutes. Adding that the developers believe it is too early to discuss the proposals publicly.
However, it seems that not all developers have been informed of the potential update. One individual is Afri Schoedon, the person responsible for issuing the Ethereum parity client. In a statement published on Github, he says he is not aware of the document or plans for an upcoming update.
Ethereum like all public networks of blockchain requires a consensus distributed among users of the software before any changes to its rules. However, developers usually suggest changes to the code.
In one of the meetings, participants included Vitalik Buterin, the creator of Ethereum, Joseph Lubin, the founder of Consensys Systems and other important community organizers and developers such as Hudson Jameson, Peter Szilagyi and Lane Rettig.
According to the notes, it seems that the developers of ethereum can be pressured to improve their public roadmap in ways that will add improvements on the network to an accelerated schedule. Several changes have been discussed in the meetings.
The developers hope to include them in a system-level upgrade or a hard fork that could be implemented by June of next year.
Potential updates include the replacement of the virtual machine ethereum (EVM) responsible for processing the intelligent contract code.
The update will introduce "lease" or deposit fees for smart contracts that will try to stem the growth of the blockchain ethereum that needs to be downloaded from all participating nodes.
The blockchain ethereum currently stands at about one terabyte on a complete archive node)
Basil has three years of freelance experience writing about disruptive technologies. It focuses on latest news and pieces of education; helping to spread the Gospel of Blockchain. He hopes to have his blockchain company one day; help the world through its innovative ledger technology.