Ethereum is Currently Developing the Next Full Upgrade to its System
Constantinople is the latest upgrade to Ethereum out of a series that are implemented to upgrade and boost the efficiency of the network while providing lower costs and fees. The upgrade is set for later this year during a conference in October as per reports on the 27th of July.
As of now, no reports have been published or stated regarding the number of blocks that would be available after the application of the irreversible upgrade. In regards to the company and platforms plans, testing will span over two months and a custom network to test the upgrade on prior to its official release.
Several new applications by the upgrade system, successor to the previous Byzantium deployed last year, will be aimed at enhancing the platforms operations while reducing the cost of fees. During the meeting, four significant upgrade systems are currently under development by the company. Senior develop of Geth, the number one ethereum client, Peter Szilágyi stated that most of the changes required by the upgrade have already been installed.
EIPs as they’re referred to, are almost complete according to Peter. Parity Ehtereum is also taking further steps regarding the same scenario as stated by Afri Schoeden, CO of the company. As stated, a few upgrades have already taken place on the new system, among them the EIP 210 designed to more efficiently store and hold assets on the network. Three more EIPs to be deployed, designed to accelerate, extend, and compress data and contracts.
Additional important upgrades are also underway, regarding the time it takes to mine Ethereum blocks as well as another EIP to enhance the pricing of gas. In regards to the mining difficulty scenario, a controversial topic during a meeting lead the moderator, Hudson Jameson stated that no decisions will be made anytime soon.