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Ethereum, the second largest cryptocurrency in the market, has joined the realm of bears when the currency has fallen below its value of $ 200, surpassing the level of support. The currency has been in the spotlight due to its imminent strengthening of Constantinople and the patch up with Ethereum Classic.
The currency has been acclaimed for being the prey of the ICO's sell-off, from the start of this year, which has brought down the currency from its all-time high. Moreover, according to an EY report, most of the Ethereum-based ICOs, which raised funds in 2017, also failed after entering the market. Nevertheless, it still remains the starting point of the major coins like Tron [TRX] and EOS.
Regardless of its price movements, Ethereum has stepped up its development game. The coin is ready for its next fork, Constantinople. The fork hark was launched on Ropsten Testnet, however, the launch was not as smooth as expected. There were several problems identified as mentioned in the post-mortem report.
During the Parity implementation on Ethereum, a bug on consensus was discovered. Rettig, a principal developer, said he had not been identified in the testers as there was confusion over terms such as Transaction and execution frames. This is also said to be factors contributing to the appearance of the bug.
Also, there was a problem related to the availability of miners on Parity, Geth or Aleth for Ropsten. The developer claimed that there was a need for better understanding and control of the mining job test [PoW] Testnet. There was also a problem concerning the extent of the Parity nodes in terms of automatic reorganization of themselves.
In addition, the Ethereum Foundation announced yesterday that they are building bridges with the Ethereum Classic Cooperative after 2 years of separation. To add to the event, the Foundation donated over 15.00 ETCs and planned to collaborate with each other in the future. The announcement said:
"The Ethereum Foundation and the ETC Cooperative jointly fund Akomba Labs to build the ETH-ETC peacebridge to represent each chain's transactions on the other. Frivolous and semi-productive engagement between the IOHK research team and Ethereum Research on demonstration of the stake consensus algorithm "
This also included the Mantid support of IOHK at ETH along with the research teams working on the Stack Test consent algorithm. In addition, Charles Hoskinson, CEO of IOHK, spoke about Vitalik Buterin and Ethereum in a recent interview. The co-founder chose Ethereum as the best intelligent contracting platform, citing:
"I would say what Vitalik is doing with Ethereum is a perfectly legitimate approach – if you look at his philosophy with Casper and Plasma and move from the EVM to the Web"
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