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10 December 2018 12: 30 & nbspUTC
| updated:
10 December 2018 at 12: 30 & nbspUTC
With the update of the Ethereum Network scheduled for mid-January, developers are looking intently at the future of the Ethereum Blockchain. The update of Constantinople of the Ethereum Blockchain was agreed in block 7.08.000, which will take place approximately in January 2019.
The hard fork is expected to make many improvements to life, such as breaking down the Block award from three to two. The hard gallows will also result in the delay of the difficulty bomb. The meeting in which it was decided to update Constantinople also saw decisions to ensure that Ethereum is resistant to ASIC, thus making Ethereum suitable for mining activities for domestic miners.
Ewasm Virtual Machine
A virtual machine focused on a faster processing of the intelligent contract code; the Ewasm virtual machine will facilitate the distribution of Smart Contract. Combined, all the updates will give the much-needed boost to the Ethereum Blockchain. However, they are just another milestone to be achieved up to Ethereum 2.0 in 2020.
Ethereum 1x
If several proposals are activated over time, the Ethereum 1x could enter into force as soon as June 2019. Proposals include the archiving of old information, the charging of fees for users who store data from Smart contracts on Blockchain, etc. All these changes will make Ethereum a light Blockchain.
Ethereum 2.0
Ethereum 2.0 is scheduled for the transition of the Ethereum work model from PoW to PoS. Ethereum 2.0 will also support the updated Ethereum virtual machine and implement sharing. It will allow the Ethereum Blockchain to scale up future Dapps. Currently, eight teams are working together to develop the future Ethereum.
Conclusion
Vitalik Buterin and his team are working hard towards the transition of the Ethereum Blockchain so that it can provide real value. The Ethereum network plans to go beyond simply refueling ICOs in a location that facilitates the development of huge communities with Blockchain technology. And while projects like TRON are already working on the aforementioned transition, it remains to be seen whether Ethereum can transit through the designated timeline.
Swati Kishore
Swati has a strong interest in emerging technologies and loves to write them. He loves trance and is also interested in the philosophy of life.
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