Our team at DC Forecasts is proud to give you Ethereum Istanbul live updates and show you how this hard fork has affected the cryptocurrency and the entire market surrounding it. As we can see in the Ethereum news today, there are a couple of updates you should know regarding speed, capacity and an update on the amount of stolen ETH from Upbit.
The much-anticipated shift to Istanbul happened yesterday and the system-wide update officially came into force when the network passed the block #9069000 late on Saturday night. According to Vitalik Buterin, the capacity of ETH now has the potential to reach 3,000 transactions per second. The Ethereum Istanbul live updates show that the entire hard fork is also designed to deliver interoperability with the privacy token Zcash as well as make it cheaper to use zero-knowledge technologies which enhance privacy.
“Ethereum, in general, is an exciting project because they’re trying the hardest out of anyone in the crypto space to scale without sacrificing decentralization,” according to one software engineer working at CertiK named Maxwell Foley,
Meanwhile, the Ethereum Istanbul live updates also show that the stolen ETH which were taken out from the hot wallet of the major South Korean crypto exchange Upbit are now apparently being moved to unknown wallets. Whale Alert confirmed this in the cryptocurrency news and following that, we could see that a lot of dodgy transfers have been taking place throughout the week. Some analysts even suggested that an “inside job” was more likely than a breach as reported.
When it comes to logistics, the Ethereum Istanbul live updates show that regular customers are not required to take action unless informed otherwise by their service providers. On the other hand, miners of Ethereum have to upgrade their client to the latest version in order to run Istanbul on Rinkeby, Goerli and Ropsten. If they don’t do this, they will remain on an incompatible chain and will not be able to operate after the upgrade of the Ethereum network.
Meanwhile, developers are required to review all EIPs to determine if their current contract is affected by one or any of them. If it is, they will have to upgrade their contracts accordingly.
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