Ethereum upgrade metropolis

Much of that development is happening on the Ethereum blockchain. In short, while Bitcoin continues to capture cryptocurrency mindshare, Ethereum is being touted for its real-world applications, and it fully intends to keep pace with the challenges.

In the past year, many corporations and governments have started exploring how the Ethereum ecosystem and blockchain can improve their businesses and make operations more efficient. In general, these changes come down to an improvement in security and scalability. A few days ago, Vitalik tweeted that it had just verified a Zk-snark proof transaction on the Ethereum testnet which will add a significant cryptographic privacy for the transaction itself.

Byzantium went live on Ropsten yesterday. And it just verified a zk-snark proof. The second phase of the Metropolis rollout, dubbed Constantinople, looks to address growth and scalability concerns. Ethereum officially released the Metropolis hard fork on September 18 on its testnet, Ropsten. These appear to just be minor changes to the manner in which the network functions and to eliminate the potential for any security exploits.

Despite this, these updates are quite important for security and efficiency. For example, there are a number of upgrades to the way in which smart contracts are going to be executed particularly as it relates to faulty code. These contracts will fail if there is any fault in the underlying code. It will also allow for the ability for contract upgrades to be included in the original code. These contracts will also include protections against something called a re-entrancy attack.

The feature for embedding the transaction return data will allow light clients to ascertain whether a transaction was successful without actually having to execute the smart contract itself. The Ethereum developers are also trying to delay the difficulty time bomb that is expected to kick in across the network. This was done so that the transaction times do not become extremely long and impeded on the network.

They are also implementing another miner fix to the difficulty timebomb which will hopefully keep the block time more stable. Byzantium will also be decreasing the block reward that is given to the miners for solving the block. The hope is that this will eventually decrease the cost and speed of the Ethereum mining. The metropolis hard fork also involved the implementation of zk-snarks.

These are being implemented in order for genuinely private transactions to eventually occur on the network. This is being done in collaboration with the developers at Z-Cash which is a privacy conscious crypto currency. They Ethereum Dev team is taking the first step to this implementation through the use new precompiles. Constantinople There is currently no release date that has been set for constantinople.

This will be the second Metropolis hardfork that will include a number of other EIP upgrades. Some of the assumptions in the original Ethereum code could have been compromised if these changes were indeed pushed through.

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