Through the current developments of Bitcoin and Bitcoin-Cash, Ethereum moved somewhat into the background in the crypto-community. Now it was announced that the next big update “Metropolis” at the end of September by a Hard Fork.
The planned stations of Ethereum can be found in the Ethereum Roadmap. Since the beginning of the year, the Ethereum community is eagerly waiting for a release date, because Metropolis will implement new features for Ethereum.
At the moment the following innovations are known for Metropolis:
In Metropolis the basis for the so-called zk-snarks is to be laid. These “Zero Knowledge Proofs” will allow the Ethereum Blockchain to perform anonymous transactions in the future.
A proximity to Zcash is not surprising, as Ethereum chief developer Buterin and Wilcox work together on Zcash’s anonymity.
The upgrade provides for easier programming for programmers. Smartcontracts should also be simplified. Gas is to be adjusted, so that when a transaction is executed, it is better to settle the bill and thus save costs.
A kind of masking can now be used to “determine” the address to which you have a private key. Through this type of assignment, security enthusiasts can gain additional security for their accounts.
This development is interesting because it provides protection against attacks by quantum computers. In addition, a so-called Difficulty-Bomb is to be ignited. It will cause a severe aggravation of the mining. This is only an intermediate step to the gradual replacement of proof-of-work to proof-of-stake.
Although there were reports that the price might fall, it is not clear – on the contrary, there has been a strong increase in Ethereum miners in the past, which was motivated by an increased price. That Miner ultimately control the price is too high.
As with past upgrades, which were introduced by means of hard-forks, the positive development could also trigger a price increase.
After all, it would have reached the penultimate stage – Serenity will follow and bring the breakthrough to the mainstream, at least the Ethereum roadmap.