The Ethereum development team agreed to an urgent hard fork shortly after the Istanbul update.
The discussion was attended not only by Ethereum developers but also by miners, as well as other market participants. All of them expressed unanimity in the matter regarding the postponement of the so-called difficulty bomb. The latter is a programmed Proof-of-Work mining restriction to encourage Ethereum ecosystem members to switch to the Proof-of-Stake (PoS) algorithm.
Both of the possibility to complete mechanism removal were discussed. In particular, the developer Aleksey Akunov stated that “the ratio of risk and profitability from using the mechanism of the bomb of complexity is not yet impressive.”
Augur Project Marketing Specialist Eric Conner opposed the complete removal of the bomb complexity, as this could trigger a negative reaction in the community.
Taking on the inflation, Tim Beiko from PegaSys startup said:
Just wanted to point out that this would be the first push back of the bomb without an issuance change.
Parity Wei Tang said:
For parity, bomb delay, bomb defuse or reward change will all just be simple json config change, so I think it should be alright for us to deploy it in a short period of time.
According to the Hudson Jameson at the Ethereum Foundation, it would be nice to have a hard fork in mid-January.
Hard fork Istanbul on the Ethereum network will take place on block 9,069,000 on December 7th.
Delayed several times, Istanbul will be the last hard fork in the Ethereum 1.0 network, after which the road will open towards Serenity – the stage of ecosystem transformation to Ethereum 2.0.
This large-scale upgrade will be preceded by Casper activation and the transition to the Proof-of-Stake algorithm, sharding, updating the virtual machine (EWASM), changing the cross-contract logic and protocol economics.
Before this, the platform expects another major update called Berlin, the launch of which should take place before the end of June 2020.
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