Wednesday, July 8, 2020
Ethereum Upgrades
Ethereum Upgrades Ethereum Upgrades: All you need to know about Ethereums Istanbul Back Home Categories Online Courses Mock Interviews Webinars NEW Community Write for Us Categories Artificial Intelligence AI vs Machine Learning vs Deep LearningMachine Learning AlgorithmsArtificial Intelligence TutorialWhat is Deep LearningDeep Learning TutorialInstall TensorFlowDeep Learning with PythonBackpropagationTensorFlow TutorialConvolutional Neural Network TutorialVIEW ALL BI and Visualization What is TableauTableau TutorialTableau Interview QuestionsWhat is InformaticaInformatica Interview QuestionsPower BI TutorialPower BI Interview QuestionsOLTP vs OLAPQlikView TutorialAdvanced Excel Formulas TutorialVIEW ALL Big Data What is HadoopHadoop ArchitectureHadoop TutorialHadoop Interview QuestionsHadoop EcosystemData Science vs Big Data vs Data AnalyticsWhat is Big DataMapReduce TutorialPig TutorialSpark TutorialSpark Interview QuestionsBig Data TutorialHive TutorialVIEW ALL Blockchain Blockchain TutorialWhat is BlockchainHyperledger FabricWhat Is EthereumEthereum TutorialB lockchain ApplicationsSolidity TutorialBlockchain ProgrammingHow Blockchain WorksVIEW ALL Cloud Computing What is AWSAWS TutorialAWS CertificationAzure Interview QuestionsAzure TutorialWhat Is Cloud ComputingWhat Is SalesforceIoT TutorialSalesforce TutorialSalesforce Interview QuestionsVIEW ALL Cyber Security Cloud SecurityWhat is CryptographyNmap TutorialSQL Injection AttacksHow To Install Kali LinuxHow to become an Ethical Hacker?Footprinting in Ethical HackingNetwork Scanning for Ethical HackingARP SpoofingApplication SecurityVIEW ALL Data Science Python Pandas TutorialWhat is Machine LearningMachine Learning TutorialMachine Learning ProjectsMachine Learning Interview QuestionsWhat Is Data ScienceSAS TutorialR TutorialData Science ProjectsHow to become a data scientistData Science Interview QuestionsData Scientist SalaryVIEW ALL Data Warehousing and ETL What is Data WarehouseDimension Table in Data WarehousingData Warehousing Interview QuestionsData warehouse architectureTalend T utorialTalend ETL ToolTalend Interview QuestionsFact Table and its TypesInformatica TransformationsInformatica TutorialVIEW ALL Databases What is MySQLMySQL Data TypesSQL JoinsSQL Data TypesWhat is MongoDBMongoDB Interview QuestionsMySQL TutorialSQL Interview QuestionsSQL CommandsMySQL Interview QuestionsVIEW ALL DevOps What is DevOpsDevOps vs AgileDevOps ToolsDevOps TutorialHow To Become A DevOps EngineerDevOps Interview QuestionsWhat Is DockerDocker TutorialDocker Interview QuestionsWhat Is ChefWhat Is KubernetesKubernetes TutorialVIEW ALL Front End Web Development What is JavaScript รข" All You Need To Know About JavaScriptJavaScript TutorialJavaScript Interview QuestionsJavaScript FrameworksAngular TutorialAngular Interview QuestionsWhat is REST API?React TutorialReact vs AngularjQuery TutorialNode TutorialReact Interview QuestionsVIEW ALL Mobile Development Android TutorialAndroid Interview QuestionsAndroid ArchitectureAndroid SQLite DatabaseProgramming s Istanbul Published o n Oct 24,2019 451 Views Zero Margin Blockchain enthusiast, I have been involved with blockchain platforms for the last... Blockchain enthusiast, I have been involved with blockchain platforms for the last 3 years. Enabling how technology can enable the transformation of business. A... Bookmark 3 / 8 Blog from Ethereum Become a Certified Professional Change is inevitableThis has been the cornerstone statement and much more evident in the software world. There has been no system, which has not gone through the evolutionary cycle of bug fixes and upgrades. Pushing out a change or a new feature, for a centralized system is easy as we know the servers and system we need to update. The challenge of pushing out a new updated software becomes much more complex as the system grows in scale. This brings to our topic of todays discussion. How does an update to a decentralized system like Ethereum happen?What we are going to do today?Understand what forking means in the Ethereum world.A br ief history of Ethereum upgrades.Mechanics and nuances of the upgrade.What will be the takeaway?Understand how upgrades work and process for upgrade.Implications of the upgrade.These are the topics we are going to be discussing in this blog:What is a fork?Why are they called forks and not just ethereum upgrade?Soft Fork (Network Upgrades)Hard ForkWhat is an EIP?EIP TypesEthereum Upgrade cycleEthereum Upgrade HistoryDriving FactorsEthereum Istanbul UpgradeWhat is a fork?In essence, any changes done to the rules and protocol of the Ethereum network are called fork.In simple words, these are the bug fixes and updates (major/minor) applied to the distributed network.These are network updates in essence, where the governing principle on how network works are changed.Why are they called forks and not just network upgrade?These network upgrades or protocol changes are on a decentralized network, this causes some unique challenges. Let us have a look at them.Soft fork (Network Upgrades)In a simple scenario, if all the changes or upgrade proposed are backwards compatible and support old and new rules.In the above-mentioned scenario, all of the participants are in agreement about the changes and upgrade the software.This is what we call as a soft fork, backward compatible, all of the participants agree and there is only one version of software running on all the participants.A soft fork is more of a misleading term, this is more of a network upgrade, where we end up with just one version of the software.As this is a decentralized system, so what all the participants agree upon plays an important role in the future state of the network.Hard forkIn this scenario, the changes or upgrade proposed to the network are not agreed upon by all the participants in the network.Keeping in mind, the changes and upgrades being proposed are not backwards compatible.If lets us say x% of the participant agree in favour of the changes, they go ahead and upgrade their software.Now, what we end up with is two separate versions of the software.One, where x% of participants have upgraded to include new changes.Second, where (100-x)% of participants have not upgraded.In this case, both of these groups will have the same version of the ledger, till the point, the upgrade was accepted by x%, let us say that point is block number 100.Till block number100 all the participants will have the same version of the ledger or in simple terms, same data in their blockchain.Post block number 100, x% of the participants will have their own copy of ledger which will follow new rules a per upgrade and (100-x)% of the participants will have a separate copy that still follows old rules.In conclusion, this type of upgrade is called a fork. As it causes split one blockchain into two separate versions.For example, the hard fork (DAO Hack Block# 1920000), which resulted in two versions Ethereum and Ethereum Classic. What is an EIP?EIP is an acronym for Ethereum Improvement Proposals (EIPs). A ny change or update to the Ethereum protocol, network or any change what so ever has to be built up in form of an EIP. An EIP consists ofThe problem the EIP is going to solve.A technical specification defining the new feature or change.The rationale behind the design and design decisions.If any incompatibility is introduced with this change, should be clearly listed.EIP TypesListed below are the classifications of the EIP.Standard Track: Affects most or all Ethereum implementations. e.g. change to the network protocol, a change in block or transaction validity rule.Core: Changes that may be relevant to core dev discussion. e.g. miner/node strategy changesNetworking: Improvements to network protocol specifications of whisper and swarm. e.g. Node discovery by DNSInterface: API/RPC standards and specification changes. e.g.Create `eth_chainId` method for JSON-RPCERC: Standard and specification at the application level. e.g. Token Standards, library, and package format.Meta: Process spec ification and process changes. e.g.procedures, guidelines, changes to the decision-making process, and changes to the tools or environment used in Ethereum development. EIP 233 Formal process of hard forksInformational: Design issue and general guideline for the Ethereum Community. e.g. EIP 1470 Smart Contract Weakness Classification (SWC).Ethereum Upgrade CycleLately, the Ethereum community has matured and the upgrades for Ethereum have become planned.Earlier fork or upgrade timing was decided by the EIP being introduced and the upgrade cycles were not planned.Now, the fork and upgrades are planned, and EIPs are added as they mature. This is more in accordance with traditional software upgrades and releases.Ethereum Upgrade HistoryUpgrade NumberBlock NumberDateName012015-07-30Frontier12000002015-09-07Frontier Thawing211500002016-04-14Homestead3 (Hard Fork)19200002016-07-20DAO Fork424630002016-10-18Tangerine Whistle526750002016-11-22Spurious Dragon643700002017-10-16Byzantium7728000 02019-02-28Constantinople8TBDEnd 2019IstanbulDriving factorsThe two driving factors behind the Ethereum upgrades have beenConsensus performance enhancement, proof of work is not efficient at all. The whole road map of Ethereum has been to move from PoW (Proof of Work) to PoS (Proof of Stake).Scalability, as discussed later, for mass adoption Ethereum network has to scale. The key focus area of Ethereum in the last few years has been to improve scalability.Ethereum Istanbul UpgradeThe biggest problem which has been plaguing the Ethereum network has been scalability. The Ethereum network is running at full capacity.Average Ethereum block utilization is around 90%. In simple words, if this were a single computer, it will mean we are using 90% of its capacity. We are currently averaging 700K Ethereum transactions per day. Source: https://www.etherchain.org/chartsIn order for Ethereum to scale and caters to mass adoption, upgrades and changes to the network are proposed. Istanbul, a much -awaited upgrade, which is due to happen by end of this year and is the step towards the final PoS(Proof of Stake)Serenity targeted for 2020. Istanbul network upgrade will be done in two stagesStage 1 (End of 2019): Following EIPs (Ethereum Improvement Proposal) 152, 1108, 1344, 1884, 2028, and 2200 included. These EIP are targeted to achieve the following.Gas costs reduction and optimization.Enable Ethereum and Zcash to be interoperableLay the foundation to apply scalability changes.Stage 2 (Beginning of 2020): Mining Algorithm changes, EIP 1057 will change the mining algorithm from PoW (Proof of Work) to ProgPoW (Programmatic Proof Of Work).Firstly, this reduce the undue advantage ASIC (Application Specific Integrated Circuit) cards have been in the miningSecondly, reduce the centralization of mining. in crypto mining.In the end, upgrading a decentralized system comes with it own challenges and nuances. Today, we got an understanding of how does the upgrade work in the case of Eth ereum. We also looked at the way the Ethereum upgrade process if becoming matured. Understanding the bigger object and key driving factors behind the upgrade, help us to look at where Ethereum is heading. Istanbul upgrade is being tested in TestNet Rinkeby, and will be pushed to MainNet by this year-end, as per the information at the time of writing this blog. Stay tuned for more.If you wish to learn Blockchain and build a career in Blockchain Technologies, then check out ourBlockchainCertificationTrainingwhichcomes with instructor-led live training and real-life project experience.This training will help you understand Blockchain in depth and help you achieve mastery over the subject.Got a question for us? Please mention it in the comments sectionand we will get back to you as soon as possible.Recommended blogs for you Bitcoin Blockchain Explained : Understanding Bitcoin and Blockchain Read Article What is Hyperledger An Industrial Approach to Blockchain Read Article How to Become a Blockchain Developer? Types, Roles and Skills Read Article Solidity Tutorial Solidity Programming For Beginners Read Article What is Blockchain Technology? How Blockchain Works Read Article How to write your first Smart Contract? Read Article Different Types Of Blockchain And Why We Need Them Read Article Blockchain Applications That Are Changing The World Read Article Blockchain Through the Years: History and Recent Applications Read Article Blockchain Beyond Bitcoin Blockchain Platforms and Trends Read Article Ethereum Smart Contract How to execute a Smart Contract? Read Article How to learn Blockchain? Advantages, Learning path and Future Read Article Everything You Need to Know about Blockchain Architecture Read Article Ethereum Upgrades: All you need to know about Ethereums Istanbul Read Article Best Ethereum Development Tools To Create Dapps Read Article Hyperledger Fabric A Platform For Business Solutions Read Article Ethereum Tutorial A Deeper Look Into Ethereum! Re ad Article What is Blockchain? Step-by-Step Guide for Beginners Read Article Blockchain Tutorial A Beginners Guide to Blockchain Technology Read Article Blockchain Mining- All You Need To Know Read Article Comments 0 Comments Trending Courses in Blockchain Blockchain and Ethereum Certification Trainin ...17k Enrolled LearnersWeekendLive Class Reviews 5 (6750)
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.