Post the successful implementation of Constantinople and St. Petersberg hard fork, the rate at which new transactions blocks are being added to the Ethereum blockchain is on the rise again.
According to the blockchain analytics firm, Etherscan, the daily block count has increased more than 1,500 blocks within 24 hours of the upgrade and were accepted onto the main network. The spike in block numbers was as per expected after Ethereum Improvement Proposal (EIP) 1234 activated last Thursday, which diffused the difficulty bomb in mining for next one year.
The difficulty bomb was gradually increasing the mining difficulty of the Ethereum network and was slowing down the block creation since last December. Following the activation of EIP 1234, the slowing down of block creation has rapidly decreased from 19 seconds earlier to 14 seconds now.
Now, the Ethereum core developer team is preparing for its new set of EIPs, in the next hard fork, which is now referred to as Istanbul. The timeline for next hard fork is still not determined, but former core developer Afri Schoedon suggests that the mainnet activation could likely happen sometime in October this year.
Ethereum didn’t face any serious issue in its recent network upgrade and was comparably smooth. CEO of crypto wallet tool MyCrypto, Taylor Monahan, in a recent interview with Coindesk, commented on the difficulty level of the hard fork of Ethereum ecosystem.
“I’m always worried whenever there’s a fork because there’s so many moving pieces. You have the miners. You have the hardware or the nodes. You have Geth, Parity, Harmony and all the different client software. You have the exchanges, wallets and everything in between. There’s a lot of places where things can go wrong.”
Multiple blockchain analytics firms including Etherscan, Alethio has reported no major fluctuations in transaction volumes or number smart contract message calls post the hard fork.
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