Ethereum Developers Planning to Accelerate Scaling Solutions with a New Upgrade in 2019
Ethereum might be off the radar for many due to its scalability issues and losing out to XRP, but that does not mean the internal team has lost the meaning of building what they envisioned. An internal document published on Github by an Engineer of Ethereum Virtual Machine named Greg Colvin spilled out details of an upgrade called ‘Ethereum 1x.’
According to the details revealed it is bound to be activated in June 2019. The information is already verified by an anonymous person who reportedly attended the four meetings that discussed the upgrade. However, some individual members expressed unawareness of the situation, which most probably owes to the negativity that has discouraged most of Ethereum’s core development team.
It is reported that important Ethereum members such as Vitalik Buterin and Joseph Lubin had attended one of the meetings which show how crucial and vital this upgrade will be.
What is ‘Ethereum 1x’?
The upgrade includes replacing Ethereum’s virtual machine (EVM) which is the main component of the smart contract code. There will also be an introduction of ‘rent’ which will be storage fees for smart contracts which will help grow the Ethereum Blockchain which must be downloaded by all participating nodes.
One conflict that arose is how certain developers prefer working privately to which Vitalik Buterin disagreed and preferred a more transparent system.
However one thing is for sure, Ethereum Foundation is working tirelessly at a time when negativity is at it’s highest. Similar to how racing horses have blinders to avoid distraction, the Ethereum development team is quietly focusing on the more essential fundamentals than the noise and speculation surrounding the Cryptocurrency markets.
Image Source – Flickr
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
Did you like the news you just read? Please leave a feedback to help us serve you better