Great events cast their shadows. With the new Istanbul Update, Ethereum will pave the way for 2.0 and rekindle the battle for the №1 Smart Contract Platform. The Ethereum Network is expected to expand on Saturday, December 7, 2019, at block 9,069,000.
On November 20 Ethereum officially announced that the Istanbul Update will occur at block 9,069,000 and enter into force on the Mainnet. All miners and node operators must download the latest version of Ethereum Client before December 1.
As an ETH Hodler with a common wallet or an exchange, nothing else has to be considered for the update. But what changes will the update actually bring with it?
Similar to Bitcoin, there are Community Improvement Proposals (EIPs). There were 30 EIPs for this update, of which 6 made it into Ethereum’s actual update.
In a small FAQ section, Ethereum developers in blog post answer the most important questions about the upgrade:
- What happens if I am a miner or node operator and I do not participate in the upgrade?
- What is a network upgrade in Ethereum-land?
- What happens during a network upgrade?
- What changes are going into Istanbul?
Many eyes are now directed at the industry leader. After the Istanbul update, the roadmap will continue and Ethereum’s blockchain will gradually be switched to PoS.
2020 will definitely be the year of Smart Contract platforms and Ethereum will, of course, be in the lead as a top dog. Whether they get the change with Beacon Chain and the “parallel operation” really clean on the stage, only time will show. But the chances are good that Ethereum could emerge victorious from the fight with himself.
Author: Marko Vidrih