Ethereum Successfully Completes Its Istanbul Hard Fork

Great news for the Ethereum community: the network’s Istanbul improvement has been successfully completed. Expected to increase the speed of the Ethereum network and its gas efficiency, the hard fork was activated at block number 9,069,000.

Ethereum is the world’s leading programmable blockchain featuring smart contract functionality. Its community is the largest and most active blockchain community in the world. It unites protocol developers, researchers, mining organizations, crypto traders, app developers, users, prominent companies.

Ethereum developers are continuously working on improving its functionality, and one of these improvements is completing a hard fork which is a serious change in the protocol accompanied by new rules that come in the form of Ethereum Improvement Proposals (EIPs) and define in technical terms the changes and features that should be implemented in a network upgrade. Hard forks are usually implemented under extreme conditions. They are rarely planned – most of the time their appearance is due to necessity.

Ethereum has already experienced seven hard forks, the most recent of them were Constantinople and St. Petersburg upgrades that took place in February this year. Constantinople and St. Petersburg hard forks reduced block reward issuance from 3 to 2 ETH, similar to how the previous hard fork Byzantium reduced issuance from 5 to 3 ETH. Both the hard forks launched on Ethereum block number 7,280,000.

Expectations from Istanbul Hard Fork

Istanbul is Ethereum’s eighth hard fork that comes with six Ethereum Improvement Proposals (EIPs), including EIPs 152, 1108, 1344, 1844, 2028 and 2200.

According to Ethereum’s blog post, the hard fork will enable a relay and atomic-swap…

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