15.6 C
Manchester
October 2, 2022
Image default
Altcoin

Berlin, Ethereum’s new Hard Fork, anticipated for April

While Ethereum developers are working on ETH 2.0, the Berlin update for the current Ethereum network is due to go live in April.

The Berlin update is set to start operating on the main network at block 12,244,000. The update will be implanted on the Ropstein, Goerli and Rinkeby test networks before reaching the main network. If all goes as planned, the hard fork Berlin is scheduled to go live on the Ropstein test network on March 10, on Goerli on March 17 and on Rinkeby on March 24 – before being deployed on the main network on April 14.

In this hard fork, four improvement protocols will be implemented. The Ethereum developers have revealed that the hard fork will feature updates to the code read by the Ethereum Virtual Machine (EVM), greater gas efficiency and other enhanced protection against DDoS attacks.

Ethereum developers advised node operators to update their nodes a week before April 14, which is the estimated date for the blockchain update. They explained that, due to the variability of the blocking time, the exact date of Berlin’s official launch may vary.

Increased transaction fees on Ethereum

Ethereum has also been working on the implementation of solutions to deal with the increase in gas rates in the network. Recently, developers revealed that EIP 1559 has been officially approved and will go into action in July or August.

The proposal will be a major optimization for the network, as it will significantly decrease the amount of pending transaction fees that users will have to pay when using the network. With the Ethereum 1559 Improvement Protocol, reduced transaction fees are expected, since basic fees will be introduced on the network.

Each time a transaction is conducted on the network, an amount of Ether is set to be burned, reducing gas rates and supply. This is expected to increase the value of Ether in the long run and resolve the issue of high gas rates.

Currently, Ethereum 1.0 has not yet joined the Beacon Chain – an ETH 2.0 phase that Ethereum developers have been working on to transition to a pure betting proof network. However, it is scheduled to happen in 2021.

With new Ethereum projects underway, Ether also experienced a sudden increase. At the time of writing, it is currently trading for around $ 1,843 on CoinMarketCap. In a seven-day period, it increased by about 18%.

Source: BlockchainNews

Related posts

Ethereum Analysis: Indicators point to an increase to $ 2,000

Anupreet Kaur

Ethereum reaches new all-time record

Anupreet Kaur

Little girl Chloe’s meme is turned into NFT which can be sold for 5 Ethereum (ETH)

Anupreet Kaur

Leave a Comment