What is the meaning of Ethereum hard bifurcation (whether Ethereum bifurcation is good or bad)
What does Ethereum hard bifurcation mean? What does Ethereum hard bifurcation mean? Why “upgrade”? There is a version update called “Istanbul” in the Ethernet classic network. If this situation occurs, it means that EIP-1559 will have a significant impact on the agreement
According to the data of Ethereum blockchain browser, from October 2018 to January 2019, more than 2 million ETHs (about $9 billion) entered the Cryptocurrency market. This has made the market share of Bitcoin and Ethereum reach an unprecedented level, but the price of Ethereum has declined. As of the time of publication, the value is close to 10 million dollars. (Bitcoin. com)
This is the largest hard bifurcation in the history of Ethereum. Ethereum is the first new digital asset – Bitcoin that adopts the PoW consensus mechanism. It is considered a new and more secure technical system. However, due to the large number of miners in the Ethereum network, many people are unable to participate in mining activities and maintain the security of the network. Therefore, what does the Ethereum hard bifurcation mean? It’s not actually complicated. Ethereum’s all node software has developed a set of new code specifications to make it more decentralized and transparent; In addition, a new feature has been added to support block packaging. These features allow clients to choose the chain they want to use instead of using their own main network
So the Ethereum team decided to implement a plan: let all Ethereum users join one or more entities, and prepare a new contract for everyone. In this way, anyone can create an account and receive rewards; With this proposal, the Ethereum community can decide how to distribute its tokens to others; Alternatively, validators can be managed through a method called proxy proof of equity
Although many people now call this project “Ethereum 2.0”, it is actually a technical solution being developed by the Ethereum Foundation. However, for those who do not understand the concept of blockchain, this is a very unusual process. Because people do not know how to build a complete Codebase, it is even difficult to understand what the real Ethereum is So, the question arises, why is this phenomenon happening? First of all, Ethereum 1.0 is supported by the Proof of work algorithm and PoS algorithm; Secondly, Ethereum 3.0 introduces PoS based on POW. In short, “Proof of work” is a proof of equity model based on Proof of work, which aims to improve security and reduce transaction costs
Is Ethereum bifurcation good or bad
According to Coindesk, is Ethereum bifurcation good or bad? At present, the most discussed topic in the community is whether it supports forking. In some cases, ‘hard forking’ can make the system more centralized, which means that the control of the network may be restricted; On the other hand, some people are concerned that if problems arise, all participants on the network will lose control of the platform. However, if this happens, many transactions on the Ethereum blockchain will be rejected or suspended.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/22099/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
US Government Transfers Seized BTC to Coinbase
It is reported that 49000 BTCs (worth US $1 billion) in the wallets seized by law enforcement departments of the US government have been transferred to Coinbas…
-
Understanding Panic and Greed Index: Update for Today
According to reports, the panic and greed index today was 55 (yesterday was 63), indicating an increase in the level of greed compared to yesterday, with the level still being gree
-
Developing Incentive Plans for Uniswap: Gauntlet Applies Research to the DAO Ecosystem
On April 12th, it was announced that DeFi risk manager Gauntlet has received funding from the Uniswap Foundation and will focus on designing and specifying incentive plans to benef
-
Bluesky, the decentralized social network supported by Jack Dorsey, set to launch on the App Store
It is reported that Bluesky, a Twitter alternative supported by Jack Dorsey, has released an invitation beta in the App Store. According to the report, Bluesky…
-
OpenSea Clarifies Policy on Enforced Royalty for NFTs
It is reported that OpenSea, the NFT trading market, made a clarification on the new policy issued earlier: operatorfilter is applicable to the new and existin…
-
BitMEX Launches USDT/USDC Perpetual Contract with 10x Leverage
On March 11, it was reported that BitMEX, the crypto trading platform, will launch the USDT/USDC perpetual contract at 12:00 on March 12. The maximum leverage …
-
Russian Cryptocurrency Market and Regulatory Oversight
According to reports, Yury Chikhanchin, director of the Russian Federal Financial Supervision Agency (Rosfinmonitoring), reported the current operation of the agency to Russian President Vladimir Putin. He said that the turnover of Russian cryptocurrency assets was growing, and the volume of Russian cryptocurrency transactions was close to 13 billion dollars. Regulators are monitoring the activities of more than 25000 cryptocurrency trading participants. The service also identified about a dozen financial organizations that provide assistance to them. Director of the Financial Supervisory Authority of the Russian Federation: Russia’s cryptocurrency trading volume is close to US $13 billion Analysis based on this information:The Russian Federal Financial Supervision Agency (Rosfinmonitoring) has reported that the turnover of Russian cryptocurrency assets has continued to grow, with transaction volumes reaching nearly $13 billion. Despite this growth, the regulatory body is closely monitoring the activities of more than 25,000 cryptocurrency trading participants, and has identified a dozen financial organizations that provide aid to the industry. The exponential…
-
20 million IDs transferred to the Coin On deposit address of DWF Labs
According to reports, according to Twitter user ember monitoring, the Genesis address of the SPACE ID token ID was requested from Coin An on March 30th and April 1st for 20 million
-
BUSD-USDT Pairs’ Trading Volume Increased by 4836.2% Since Paxos’ Announcement
On February 13, according to CryptoCompare data, since Paxos announced that it would stop issuing new BUSD and terminate its partnership with Binance on Februa…
-
Possible Stricter Regulations for Medium-Sized Banks
According to reports, sources have revealed that after the Silicon Valley Bank (SVB) incident, the Federal Reserve is considering a series of stricter capital and liquidity requirements, as well as measures to strengthen annual stress testing. These regulations may focus on medium-sized banks with assets between $100 billion and $250 billion, which currently evade some of the most stringent requirements. Source: The Federal Reserve is strengthening its annual stress testing measures Analysis based on this information:According to recent reports, the Federal Reserve is considering implementing a series of stricter regulations for medium-sized banks with assets between $100 billion and $250 billion. This has come after the Silicon Valley Bank (SVB) cyber-attack in 2020, which exposed vulnerabilities in the banking sector’s security. The proposed regulations may focus on capital and liquidity requirements, as well as measures to strengthen annual stress testing. Capital requirements ensure that banks have enough funds to cover potential losses, while liquidity requirements ensure they have enough cash…
-
Building a Parallel Sequencer: Improving the Performance of Ethereum-based Projects
On April 8th, according to official sources, ABCDE Capital released the open-source parallel Sequencer validation project paraSequencer, aiming to improve the performance of Geth b
-
Accelerating Innovation in Hong Kong: The Role of Web3.0
On April 11th, Hong Kong Chief Executive Li Jiachao delivered a speech at the establishment ceremony of the Hong Kong Web3.0 Association, expressing the hope that the association w
-
First Republic Bank: Analyzing the Recent Market Drop
On April 26th, according to the US stock market, the market value of First Republic Bank has fallen below $1 billion, and its stock price has fallen below $5. It is now down nearly
-
Article Title: zkSync’s Phezzan Protocol DEX Fails to Raise Funds for Sustainability
According to reports, zkSync\’s decentralized and sustainable contract DEX Phezzan Protocol tweeted that due to the failure to raise enough funds, it will no longer continue to oper
-
CNHC Group Defaults on Finance Round
According to reports, the stable currency issuer CNHC Group completed a US $10 million A+round of financing. KuCoin Ventures led the investment, with other investors including Circle and IDG Capital. According to CNHC co founder Joy Cham, it is currently issued on the Ethereum and Conflux blockchains, with a total supply of approximately 15 million tokens (worth approximately $2 million). Tether’s CNHT currently has a total supply of approximately 20 million tokens. Stable currency issuer CNHC Group completed a US $10 million A+round financing Analysis based on this information:The news report indicates that the stable currency issuer CNHC Group has successfully concluded a $10 million A+ round of financing. It has emerged that the investment round was led by KuCoin Ventures, with Circle and IDG Capital also participating in the funding. According to Joy Cham, co-founder of CNHC, the stable currency token is currently issued on the Ethereum and Conflux blockchains, with a total supply of around 15 million tokens…
-
Hong Kong Web3 Carnival 2023: Memorandum of Hangzhou Hong Kong Web3 Industry Linkage
On April 12, it was reported that at the 2023 Hong Kong Web3 Carnival, Ms. Kong Dejun, Deputy District Chief of the Shangcheng District People\’s Government of Hangzhou, and Mr. Li