One of the main ethereum client has finished implementing the biggest ethereum upgrade of the year which includes a number of protocol changes.
The biggest one is a 33% reduction in ethereum’s new supply from 3eth per block to 2eth. It will further delay the difficulty bomb to retain confirmation times at 15 seconds until the Proof of Stake (PoS) Casper upgrade which may hopefully go out next year.
There are further a number of highly technical efficiency gains and new features with Afri Schoedon of Parity stating: “All done. Can start testing.”
They appear to be slightly behind as testing was meant to start on August 13th until September 10th, with a testnet for further 20 days and then launch on October 8th.
If that timeline is extrapolated and all goes well, then this may launch on November 8th, just after Devcon IV, unless they can make it for October 20th-25th to open Devcon with a bang.
Péter Szilágyi of Geth, currently one of the main eth client, said: “Geth had all EPIs implemented a month ago, but then Parity changed one of the EPIs so we’ll need to reimplement that a bit (net gas metering). Otherwise it’s mostly done yes.”
Then there’s of course Ethereum Improvement Proposal (EIP) 1234, but Szilágyi says “yeah, that’s 10 lines of code.”
So it looks like ethereum has at least one upgrade to look forward to in the near future. This will be a fork, but it is unlikely any free coins will be on offer as it is probable no one wants a higher inflation rate for their currency.
We probably, therefore, won’t see any eth chain-split as there was general consensus for issuance to be reduced with may eth investors thinking it should have gone even further to 1 eth per block.
That, however, would have probably been too risky as ethereum’s hashrate is currently falling, just as is price. But with price now becoming a bit boring as it keeps playing the same tune for months, perhaps the upgrade, and the sold out in seconds Devcon, will give ethereans something else to talk about.