Charles H. Miller
Bitcoin got its hard fork, Bitcoin Cash, but the Ethereum Developer team is planning something similar.
Called Metropolis, this hard fork was planned in the Ethereum road map for 2017, and will include a number of improvements, some of which we’ll discuss here…
UPDATE: Metropolis is a complex update, and its first part — called Byzantium — is scheduled for mid-October 2017. The second part, called Constantinople, will be released at a later date.
Related: 5 Things to Know About Cryptocurrency Forks
Metropolis upgrades
Metropolis is all about adding new features to the Ethereum platform. Here are some of the key features you should know about:
1. Increased anonymity
This will come included thanks to the new “zk-SNARKs,” or Zero-knowledge proofs, that come included with the ZCash platform/cryptocurrency. It will enable users to perform anonymous transactions at higher levels than in the past.
2. Easier programming and smart contracts
Making life much easier for Ethereum developers… Also, gas will be adjusted for bill settling. We find these features to be among the most important ones, with more developers making cool stuff for the platform to eventually make it available to just about every user out there.
3. Masking
This is fairly important for security enthusiasts, allowing users to determine the address for which they have a private key. This will increase security on the network, even against quantum computer hacking.
4. More difficult mining
The upgrade includes the so called “Difficulty-Bomb” that makes mining exponentially more difficult. This bomb is designed to act as an intermediate step in the transition from proof-of-work (PoW) to proof-of-stake (PoS) on the network.
Price response?
So far the price of Ethereum hasn’t rocketed — Bitcoin still gets most of the news — but with the platform getting better and better, we expect more users to jump onboard, propelling the value of ether to new heights.
Also, as we noted above, with more developers making cool Ethereum-based apps, more money will enter the eco-system, further helping the platform and its token (ether) appreciate in value.
Next step?
Next step in the Ethereum road map is Serenity — it should bring along an increase in stability, to further increase investments and price support.
Meanwhile, the question for you (for all of us, really) is — are we going to sit on the sidelines or join the gold rush. You be the judge…
