Friday, December 4, 2020
coincasso bitcoin exchange banner
Home News Ethereum News What did the Istanbul hard fork change in the Ethereum network?

What did the Istanbul hard fork change in the Ethereum network?

Hard fork is a concept known to all crypto enthusiasts. It means that two blocks were dug at a similar time and it is impossible to determine which one is more dominant. The next excavated blocks decide which one will be discovered further and which will cease to be exploited. Hard fork can be associated with both split and emergence of a new cryptocurrency, as well as with network updates and an opportunity to make changes.

Ethereum hard fork

The Ethereum network has undergone a total of eight hard forks – including three in 2019. Istanbul, the last of them, ended on Saturday at 23:25 Central European Time (CET). The update started after digging block 9069000 and made six anticipated changes. Vitalik Buterin, co-founder and inventor of Ethereum, congratulated digging this block in his Twitter post:

What changes has Istanbul made?

The main assumptions of the update were to improve the Ethereum network and reduce transaction fees. In addition, the network capacity has been increased, which is to translate into faster transactions and greater scalability.
Istanbul also improves the correlation between Ethereum and the Zcash protocol – more precisely, it provides greater security and privacy of transactions. To put it simply – this hard fork has introduced significant changes regarding security and transfer speed of transactions based on Ethereum blockchain.

How did Ethereum hard fork affect the cryptocurrency world?

Previous network updates aroused a lot of excitement not only among crypto miners, but also among the investors. However, it is different with Istanbul – the change did not affect the price of Ethereum much.
This update did not arouse much interest among the community – but that’s not suprising. Istanbul, as part of a greater plan, has been announced for some time – thanks to this, the cryptocurrency world had time to get used to the changes.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Sidebar Widget
USD
EUR
PLN
RUB
bitcoinBitcoin (BTC)
$ 19,360.62
ethereumEthereum (ETH)
$ 608.81
tetherTether (USDT)
$ 1.00
rippleXRP (XRP)
$ 0.619392
bitcoin-cashBitcoin Cash (BCH)
$ 299.24
litecoinLitecoin (LTC)
$ 87.78
tronTRON (TRX)
$ 0.031520
moneroMonero (XMR)
$ 134.92
dashDash (DASH)
$ 106.75
eosEOS (EOS)
$ 3.10
dogecoinDogecoin (DOGE)
$ 0.003423
bitcoinBitcoin (BTC)
16.008,04
ethereumEthereum (ETH)
503,39
tetherTether (USDT)
0,826835
rippleXRP (XRP)
0,512135
bitcoin-cashBitcoin Cash (BCH)
247,42
litecoinLitecoin (LTC)
72,58
tronTRON (TRX)
0,026062
moneroMonero (XMR)
111,56
dashDash (DASH)
88,26
eosEOS (EOS)
2,56
dogecoinDogecoin (DOGE)
0,002830
bitcoinBitcoin (BTC)
71,855.97
ethereumEthereum (ETH)
2,259.57
tetherTether (USDT)
3.71
rippleXRP (XRP)
2.30
bitcoin-cashBitcoin Cash (BCH)
1,110.61
litecoinLitecoin (LTC)
325.79
tronTRON (TRX)
0.116985
moneroMonero (XMR)
500.75
dashDash (DASH)
396.20
eosEOS (EOS)
11.51
dogecoinDogecoin (DOGE)
0.012704
bitcoinBitcoin (BTC)
1,454,246.83
ethereumEthereum (ETH)
45,729.94
tetherTether (USDT)
75.11
rippleXRP (XRP)
46.52
bitcoin-cashBitcoin Cash (BCH)
22,477.01
litecoinLitecoin (LTC)
6,593.48
tronTRON (TRX)
2.37
moneroMonero (XMR)
10,134.33
dashDash (DASH)
8,018.38
eosEOS (EOS)
232.85
dogecoinDogecoin (DOGE)
0.257114
Sidebar Post
coincasso bitcoin exchange banner

Latest News

CBDC becoming more and more popular

More and more countries are planning and developing the emission of their own crypto. Lithuania announces the launch of its CBDC in July, while...

Bitcoin versus gold, what is a better investment?

Since the global COVID-19 pandemic, people have been looking for an alternative to keeping their savings in their domestic currencies. Some of them choose...

The Medical University of California forced to pay the ransom

Hackers hacked into Medical University computers and demanded a ransom for unlocking the data. After not very fruitful negotiations, the hackers received 116.4 BTC. A...

Blockchain e-voting system was attacked

Bitfury working for the Russian government was attacked at the weekend. Are innovative solutions safe? Problems in the Russian voting system  The Russian system of voting...

Crypto-powered online game tournaments are the future of this market

The Counter-Strike stars will soon be taking part in a cryptographic tournament, while fans will be able to bet on the score with VRA...