Ethereum Hard Fork - What you need to know !
BlockChain king - Ethereum will undergo Metropolis hard fork in September.
As it was announced earlier, this upcoming release is expected to have some major upgrades to ethereum platform.
Some key upgrades expected are :
- More security enabled for users in the blockchain - which will help in Quantum computing hacking issues.
- It is anticipated to make life of developers much easier, that mean programming on blockchain is going to be easier. Which is great news for more developers coming forward to develop applications using ethereum block chain.
- Increased anonymity in terms of transactions.
- Mining on the blockchain is going to be more difficult after the upgrade - they call it 'Difficulty-bomb'. Phew !!
Effect of Upgrade on price :
Well all these upgrades are going to be game changing ones for ethereum in long run. Hmm.. but well it is still unclear what effect will this have on the price of Ethereum. However, it is expected to attract more users and projects to be developed on ethereum block chain which eventually should boost up price.
I believe all these new changes are positive ones and it stabilizes block chain ecosystem. This definitely is a positive sign for me; i'm looking forward to the upgrades and now planning to acquire more ether tokens before upgrade. Please don't take this as any investment advice, do your research and invest wisely.
Wish you all great time ahead. Do letme know your comments and suggestions.
Will ETH holders get a new currency?
I don't think its going to be any new currency for ETH holders
So it's not goin to be like the bitcoin fork and produce a new currency?
Probably depends on how many people do not want the upgrade.
If enough people decide they dont want it, then you get a second coin.
This is more of new upgrades being applied on to the platform. No currency split known till now like bitcoin hard fork.
Well, kinda.
Ethereum was the first to split I believe. Thats where ETH and ETC come from.
I don't think it is going to be as two different currency like what happened with BTC hard fork. And more over most ETH developers are supporting this fork which i don't believe results in two different currencies
Not likely. The developer community of ETH is nowhere near divided as the BTC community was/is.
yeah thats correct.
Upvoted and followed.
Great points. This is a huge move for the long term prospects of Ethereum.
I too am looking for more ETH tokens. Bought a batch last night and will most like add one more next week.
Thanks @taskmaster4450. I too believe in ETH and in for it long term. Future is looking bright in ETH, just that i wish they introduce some policy to restrict ICO scamming on the block chain soon
What are your thoughts on the potential of ETH and the Ethereum network compared to BTC?
I believe Ethereum will eventually evolve as a blockchain ecosystem in long run and we'll get to see more exciting and amazing projects coming up here. ETH dev team should already be considering someway to restrict ICO scams on the block chain, this is crucial aspect for future.