As previously announced Ethereum is set to undergo a hard fork known as ‘Metropolis.’ This week the first stage of the hard fork, known as ‘Byzantine’ went live on Ethereum’s test platform with reported success.
Byzantium went live on Ropsten yesterday. And it just verified a zk-snark proof. – Vitalik Buterin (Co-founder of Ethereum).
Zk-SNARKs is a form of zero-knowledge cryptography. The Byzantine upgrade therefore suggests that there is potential for a transaction on the blockchain to remain completely private and yet still verified as valid.
Vitalik Buterin has previously stated the need for an upgrade to the Ethereum network in order to provide more security, stability and efficiency to the blockchain.
Metropolis Hard Fork to Follow
Once the Byzantine testing has been completed and fully implemented, we should shortly see the completion of the Metropolis hard fork. If successful we believe this upgrade could be big for Ethereum, which will allow more projects to build on the network.
We would not be surprised if another hard fork were to follow after Metropolis. It appears that the people behind Ethereum are serious and always looking for ways to improve, develop and expand the network. Ethereum excites us – we look forward to seeing how successful this hard fork will be once implemented fully.
We shall keep you updated as news develops.
We would also be grateful if you could use the contact page to let us know your thoughts and if you would like us to include anything further or specific on our site.
We are not investment or financial advisors and are here to provide news and our opinions. Please be fully informed regarding the risks and costs associated with trading the financial markets and the Cryptocurrency market, it is one of the riskiest investment forms possible.