- Ethereum, News

ETH Researcher Virgil Griffith Gets Released On A $1M Bond

The latest Ethereum hard fork Muir Glacier will happen right at the start of the New Year, on January 1st, only a few weeks after the last one. The latest hard fork should address the problems that are left from the previous one as we mentioned in the previous ETH news.According to the official announcement, Ethereum’s latest upgrade named Muir Glacier will take place at the block number 9,200,000 which should happen on Wednesday, January 1st, 2020. However, the date could change due to different block times and timezones. The hard fork comes only a few weeks after the Istanbul hard fork with some new features and upgrades regarding gas costs, Denial-of-Service attack resilience, and interoperability. However, it seems that the Ethereum developers made an unexpected mistake and didn’t consider one of the most important features which are the Ice Age or the Difficulty Bomb.The difficulty bomb increases the mining difficulty on the network every 100,000 blocks and since the miners have a really hard time adapting, it leads to slower block time and the entire network is much slower and congested. Muir Glacier aims to push further on the Difficulty Bomb by four million blocks so that the Ethereum developers could have enough time to fix this issue as a whole. The Ice Age is already happening even earlier than expected since the average block times have increased by more than two seconds in the past months only.The statement also reads that most of the users won’t have to anything special to implement new features of the hard fork:

 “If you use an exchange, a web wallet service, a mobile wallet service, or a hardware wallet, you do not need to do anything unless you are informed to take additional steps by your exchange or wallet service.”

Also, it shows the latest versions of a lot of the Ethereum features that the node operators and miners have to download. As far as the price goes, Ethereum noted a 24-hour increase but has been on a downtrend as well for the past few weeks. Back in November, before the Istanbul hard fork took place, ETH was trading at $180-$190 but after the Ice Age issue was located, the price dropped under $120.

Related Articles