Ethereum plans to activate the Istanbul hard fork in the Mainnet on December 7, 2019, scheduled to take place at block number 9.069.000. Ethereum community manager Hudson Jameson confirmed in a post published a few weeks ago on the Ethereum blog.
The forthcoming Istanbul hard fork is intended to help the ETH platform overcome its scaling issues. The update brings six amendments to the code, all projected to improve the performance of the overall Ethereum blockchain.
Jameson called on all Ethereum node operators in the blog post to update the Ethereum core software before Sunday, December 1, 2019, so that the upgrade can go smoothly.
Ethereum clients who fail to upgrade to the latest version will be synchronised with the pre-fork blockchain once the upgrade is complete, and will be stuck in an incompatible, outdated Ethereum blockchain.
ETH owners, on the other hand, are not required to take any action when using an exchange or web wallet service, a mobile wallet service (such as Atomic Wallet, Trust Wallet) or a hardware wallet (such as Ledger, Trezor) unless the provider issues more info about the matter.
Istanbul is the 8th Ethereum hard fork and is supposed to open the way for Ethereum 2.0. The upgrade should produce a very scalable blockchain that uses a new consensus algorithm and sharding to boost efficiency and transaction speeds.
The adjustments during the Istanbul hard fork are also projected to deliver extra protection against replay attacks.
Building on the ETH Constantinople Hard Fork
Three days remain before the widely anticipated Ethereum hard fork, Istanbul, is implemented.
The approaching Hard Fork will be the last before Serenity – the final phase of network upgrades linked with Ethereum 2.0.
According to the most recent leaks by Ethereum’s team lead Péter Szilágyi, major updates are in the works that will prevent ETH from having to deal with coexisting, partially initialised private networks.
These updates will also put an end to some of the unnecessary memory copying on the Ethereum Virtual Machine (EVM).
Istanbul is the second hard fork that completes implementation of several crucial EIPs that was postponed after technical hitches experienced during the Constantinople system-wide upgrade.
Investors Flow In ahead of Istanbul
Despite the imminent hard fork execution coinciding with unrelenting bears, it is emerging that more investors are pouring into the second most valuable cryptocurrency, ETH, according to statistics from Token Analyst.
Week-to-date, there have been more inflows, at $115.5 million, than outflows, at $104.9 million, indicating investors’ confidence and a possibility of price expansion in the days ahead.