Verge has appeared on the third largest cryptocurrency exchange

July 31, Huobi, the third volume of trades the cryptocurrency exchange in the world, has announced the listing Verge [XVG].

Deposits in XVG can be done today, and the output XVG will be available starting August 3. XVG will be traded to BTC and ETH. Bidding will start from 1 August.

Verge [XVG] is a decentralized cryptocurrency and open source, the creators of which claim that it is superior to bitcoin. Verge developers want to create a system which allows to pay quickly, but keeping the privacy of its users. Currently a outstanding XVG in the amount of 15.1 billion U.S. dollars.

See also – Verge: update the internal structure and other news

Prior to the announcement listing the price of this coin colabus in the area of 0.022 USD. Growth over the past day amounted to almost 5%, and the peak price reached $ 0,026. At the moment, however, the price is in the correction stage in the area of 0.024 US dollar. Last week the price of the Verge increased by 6% due to positive news from the developers.

The post Verge has appeared on the third largest cryptocurrency exchange appeared first on FineCrypto.

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SVK CRYPTO PODCAST 194 – 31/07/2018 – LIBRA CREDIT ACCEPTING BINANCE TOKEN AS COLLATERAL?

https://www.podbean.com/media/share/pb-jsuge-964f3e

Welcome to the SVK Crypto, 15 Minutes of Crypto Fame, brought to you by your host, Charles Storry. We provide daily cryptocurrency content and analysis on topics such as Bitcoin, Ethereum, Altcoins and ICO’s.

We not only produce our daily content we feature CEO’s of all exciting ICO’s! Stay tuned to find out more!

If you’d like to stay in touch or get more info from me, please SUBSCRIBE to the channel and spread the good word!

Follow us on Twitter: https://twitter.com/SVK_Crypto

Visit our website: http://www.svkcrypto.com

Email us: cstorry@svkcrypto.com

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SVK Crypto – Daily News Blog

CEO Sky Mining disappeared with 35 million dollars of investments

The harsh reality of unregulated markets is once again struck by the cryptocurrency industry: the Sky Mining, the largest mining conglomerate of Vietnam, was another fraudulent project.

On 26 July it became known about the disappearance of Le Minh Tama — CEO of the aforementioned company. Le Ming, like a polite person, I couldn’t leave without explanation, especially given the fact that he disappeared with 35 millions of investor dollars.

Before the disappearance of Mr. There complained to Facebook that the profitability of his business has fallen with the price of cryptocurrency, complained of the unpredictability of the market and asked investors for forgiveness “for all”.

The majority of investors are pessimistic after the post Le Minh became suspicious and went to the main office of the company. Met them, as we already guess, the bare walls behind the locked door.

Deceived users Sky Mining reported about the events to the local police. Later it became known that lost not only CEO, but also “about 600 units of mining equipment,” was taken by impostors, claiming that they are technical employees.

Le Min Hieu, Deputy Chairman Sky Mining, shared the suspicions of the investors. In an interview with local media he said that, it looks like they stole mining-equipment with the funds. Le Min HEO denies its involvement in the theft:

“The Council has informed the police about the incident and presented the evidence that we are not guilty. We are victims”

On the background of what is happening, the gentleman There, who had not been in contact with any of his colleagues during the week, published a 44-second video in the Telegram, where it says that all this time was in the hospital and promised to return investors ‘ funds:

“You will have your money, thank you for your cooperation, I will not run and did not leave, I’ll be back”

During a PR company in Hanoi, investors were encouraged to invest a minimum of $ 100 to $ 5000 in every mining installation, which were in a special store owned by Sky Mining. The company also promised mouth-watering ROI to investors plus compensation for recruiting new participants.

The popularity of mining in Viet Nam with every passing day only increases. According to a report by Xinhua , Vietnam imported more than 6300 mining-devices from January to April 2018, and 2017 — more 9300.

Last month the Central Bank of Vietnam has introduced more stringent restrictions on the cryptocurrency, suspending the import of miners.

The post CEO Sky Mining disappeared with 35 million dollars of investments appeared first on FineCrypto.

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Top Crypto News – 31/07/2018

Bitcoin ETF Rejection Sparks Firm’s Public Protest

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Bitcoin EFT Rejected Firm Van Eck Protests Publically to SEC

In a letter to Dalia Blass, the SEC’s go-to on investment management and someone well familiar with the Bitcoin ETF quest prior to her tenure at the agency, Van Eck, one of the firms impacted by rejection, issued a public protest. It was written just prior to the latest SEC denial of the Winklevoss Bitcoin Trust.

Van Eck’s detailed response was recently published on the SEC’s website, and it pains in detail over issues often cited by agency leaders such as Ms. Blass, five in particular. “For the reasons stated above,” Van Eck concluded in the 13-page missive complete with graphs and charts, “we believe that our proposed ETF will operate consistent with the rules and requirements of the 1940 Act. Further, by offering investors exposure to bitcoin through a regulated investment product, we believe the proposed ETF will be consistent with the Commission’s mission to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.”

Bitcoin ETF Rejection Sparks Firm’s Public Protest

Ms. Blass was appointed by Chair Jay Clayton, himself new to the job earlier that same year (2017), having been tapped by President Trump. Though with the agency during a previous stint, Ms. Blass re-emerged from the private sector.

In fact, she was counsel to the Winklevoss’ first failed ETF attempt at the hands of the SEC. Notice of her appointment in December caused at least one media outlet to dub her an “ETF specialist.” She would go on to have quite an impact on the current discussion, especially her Staff Letter: Engaging on Fund Innovation and Cryptocurrency-related Holdings of 18 January 2018, as it is the document Van Eck is addressing.

Bitcoin ETF Rejection Sparks Firm’s Public Protest
Ms. Dalia Blass

Valuation, Liquidity, Custody, Arbitrage, Manipulation

Van Eck takes on essentially five main issues in its response to the SEC. Regarding valuation, regulators really fear Bitcoin ETF prices will be screwy if, say, more forks of the digital asset continue. To that end, Van Eck explains, “Some rules that should be employed are using meaningful liquidity and infrastructure tests to assess forks and pricing issues. If prices are just displayed on a website but do not reflect sufficient volume, then those prices can be de-emphasized for valuation purposes. Forks that do not trade with sufficient volume or have adequate infrastructure (wallet or exchange support) can be excluded from indices that are meant to be investable.”

Liquidity is yet another worry for the SEC. Here, Van Eck relies on a steady increase in futures markets. The firm details, “We expect that the futures market will grow proportionally to our proposed ETF and that such growth will fuel additional interest by other investors, thereby adding additional liquidity. Additionally, since the launch of the U.S. bitcoin futures contracts, unregistered futures contracts have traded on Bitmex, a non-U.S. exchange, with a consistent volume of greater than $ 2 billion per day. Moreover, to the extent other futures-based bitcoin ETFs follow our proposed ETF into the market, we anticipate that such other ETFs would have a similar impact on the futures market, thus increasing liquidity in the market and benefiting fellow market participants.”

Bitcoin ETF Rejection Sparks Firm’s Public Protest

The issue of custody is a serious one both for regulators and institutional investors, and it seems to be already addressed by the current market. Coinbase is just the latest example, and so Van Eck doesn’t really dwell on the issue too much. Arbitrage, however, is a serious concern as well for regulators. Using stoppages in recent contract history, Van Eck notes, “To date, there have been 7% and 13% halts for the CME contracts and 10% halts for the CBOE contracts. Each halt lasted for 2 minutes; markets then re-opened trading in an orderly fashion. During a halt, ETF market makers will continue to have access to underlying real-time futures reference prices as well as prices in the underlying physical markets. These prices are publicly available. Furthermore, because bitcoin trades globally, the closure of a single bitcoin exchange should not affect the arbitrage process, although the market price may be affected for a number of reasons based on the nature of the closure,” the firm readily concedes.

For Van Eck, price manipulation is almost nulled by the definition of an ETF. “While one cannot rule out manipulation in the underlying spot market,” they soberly remind regulators, “we believe that, due to the diversified ownership and volume of trading, the market does not have major, structural vulnerabilities. Therefore, the Commission’s increased enforcement and regulatory actions can reduce the number of bad actors in a basically sound market.” As of this writing the SEC has not responded.

Written by Bitcoin.com

 

TRON (TRX) Chrome Extension Beta Arrives, Project Marks First Anniversary

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Compiling a Lightning Network Node

The Lightning Network is a second layer payment protocol that many people believe can solve Bitcoin Core’s (BTC) scalability problem. The reason for this is because the LN system works on top of the BTC chain and because of this factor there would be fewer on-chain transactions. Essentially the system comprises a great number of participating nodes that can send transactions through bidirectional payment channels. Alongside this, there’s been a ferocious debate over the years because people have touted LN as the solution for BTC’s congested mempool, even though the network is very much in its infancy.

Just recently we reported on the owner of Shitcoin.com, Andreas Brekken, when he initially freaked everyone out with a couple hundred grand worth of BTC sitting within his LN node. Both the BTC and Bitcoin Cash (BCH) communities had discussed the subject heavily during the first few days, and Brekken’s story made headlines in multiple news publications and podcasts. Since then Brekken wrote four reviews about his experience being the largest node on the Lightning Network. In Brekken’s first review “Lightning Network #1 Can I Compile and Run a Node,” the review gives some comprehensive insight to successfully installing and configuring the ‘lnd’ protocol. The author notes that the ‘autopilot’ feature helps establish a connection and provides funding to the payment channels.

A Look at What Its Like to Operate the Lightning Network's Largest Node
Brekken compiling lnd, bitcoind, and bitcoin core.

A Look at What Its Like to Operate the Lightning Network's Largest Node

Brekken explains there are a few reviews online that detail the Lightning Network’s probability of finding routes, but people who experience issues may be making a simple error. Furthermore, even though the installation process took a lot of time because it requires compiling a BTC full node installation, Brekken details the process was fairly simple to configure.

“Writers critical of Lightning Network claim the probability of finding routes between two random nodes is very low for amounts over $ 10. I suspect this is because they are choosing random nodes and not peering properly,” Brekken explains.

Compiling, installing, and running Lightning Network Daemon, lnd, was straight forward. I look forward to using payment channels for sending and receiving bitcoin.  

A Look at What Its Like to Operate the Lightning Network's Largest Node
Brekken makes headlines for being the largest LN node.

Shitcoin.com Becomes the Lightning Network

In part two of Brekken’s review, he says maintaining a payment hub is becoming stressful and routing doesn’t make that much money. “When I started writing the review the total capacity of the Lightning Network was slightly over 20 BTC (around $ 130,000) — I decide to shake things up,” Brekken notes. “Reactions to my experiment on social media are mixed. The increase in capacity of the Lightning Network is celebrated by some.”

A Look at What Its Like to Operate the Lightning Network's Largest Node
Brekken’s Shitcoin.com node held 35.24 BTC.

“My Lightning Network node has established over 200 payment channels with 250 peers. The node capacity is exceeding 40 bitcoin. The month_fee_sum comes to 4289 satoshis, or 0.00004289 bitcoin ($ 0.31). I also wonder how any payments have been routed,” he adds.

The node has routed 260 payments for other users, averaging a profit of $ 0.0012 USD per transaction. I doubt that this will cover the costs of running the node, but leave the node running for now.

LN Impractical Even for Highly Technical Users

Brekken’s third review, called “Lightning Network #3 Paying for Goods and Services,” shows his experiences sending payments through the network. First Brekken heads over to a website called Satoshitweet to pay a small microtransaction for a posted tweet on the platform. However, after clicking the ‘Pay 2020 satoshis’ to tweet button he gets an error. “I click the button a few more times — The error remains the same — I look in the Google Chrome network inspector and SatoshiTweet is returning a generic 500 Internal Server Error response.”

The review then discusses trying to use an LN-based dice game called ‘Lightning Spin’ but Brekken has issues with the site glitching and invoices changing rapidly. After resetting his browser and getting a stable invoice Brekken sends some funds. “The payment will be sent through two hops and pay 1800 msats (0.00000002 BTC or 0.000135 USD). Back in the web browser the spin has been detected and I have won 400,000 sats (0.004 BTC or $ 30 USD).”

A Look at What Its Like to Operate the Lightning Network's Largest Node
Brekken wins $ 30 bucks on Lightning Spin.

After playing around with Lightning Spin, Brekken tests out various other LN web portals like the Blockstream store, Bitrefill and Satoshi’s Place while experimenting with both the Eclair and Zap wallets. Minus an order for Reddit Gold on the website Bitrefill and Brekken’s win on Lightning Spin, most of the attempts had errors. Brekken concludes in his third review:

Sending payments using the Lightning Network is cheaper than the regular Bitcoin network, but suffers from routing errors and wallet bugs that make it impractical even for highly technical users.

A Look at What Its Like to Operate the Lightning Network's Largest Node
Shitcoin.com makes its mark on the pixel site Satoshi’s Place.

Stressing Out About a Possible Lightning Network Exploit

Brekken wraps up his final review in his Medium article called, “Lightning Network #4 What Happens When You Close Down Half of the Lightning Network Capacity?” Brekken says operating the largest nodes within LN was fun, but also “terrifying” at times. Brekken’s node has routed 389 payments in total which added up to a profit of USD$ 0.34 cents. But a portion of the funds didn’t come from routing as Brekken notes, “I suspect the increase is mostly from the recent increase in bitcoin’s price.” Brekken also tries to close the connected channels manually but ran into some more errors making some channels unable to close.

A Look at What Its Like to Operate the Lightning Network's Largest Node

So Brekken ‘force closed’ all his channels unilaterally which locks up his funds until a predetermined amount of time ends. “The amount of time the funds are locked up depends on the channel policy — This policy is negotiated when the channel opens. Most channels will release the funds to me in between 1440 and 20180 minutes,” Brekken emphasizes.

The Shitcoin.com owner concludes his fourth review by saying he looks forward to trying LN when it matures more and says that leaving funds on the network can be trying.

“Running a large Lightning Network node has been quite stressful — An exploit such as we saw with heartbleed could allow an attacker to drain all funds from the node while I’m sleeping. It’s time to end the experiment,” Brekken concludes.

Operating the largest node on the Bitcoin Lightning Network has been educational, frustrating, fun, and at times terrifying. I look forward to trying it again once the technology matures.

Written by Cryptovest.com

 

Bitcoin’s Second-Ever Developer Is Back (With a Big Vision for Crypto)

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There are early adopters, then there are early early adopters.

Revealed exclusively to CoinDesk, the first coder to work alongside bitcoin’s pseudonymous creator Satoshi Nakamoto, Martti ‘Sirius’ Malmi, is joining a team of developers launching a new cryptocurrency called AXE. The project, which is combining Malmi’s Identifi online reputation system with decentralized database system GUN, is taking on the long-desired mission of decentralizing the Web.

And Malmi’s history in the cryptocurrency space should pique the interest of plenty of enthusiasts.

An amateur college developer in 2009, Malmi played a crucial role in bitcoin’s early days as the only active developer working alongside Satoshi – and even striking up a bit of a friendship. He earned Satoshi’s trust enough to be given admin access to the website Bitcoin.org, and most of the changes in bitcoin’s second code release are attributed to him.

But a couple years in, Malmi followed Satoshi’s lead and left the project, thinking bitcoin didn’t really need him anymore.

“I felt like bitcoin had already gone from zero to one, so to say. It was already up and running with a growing community and had lots of great developers working on it,” he told CoinDesk.

In 2014, then, he started Identifi, with a decentralized architecture that didn’t include a cryptocurrency at first.

But as he built – with his eyes on reducing the control web companies like Google and Facebook have – he decided something else was needed that hadn’t been tried before and that a crypto token could incentivize its use.

Malmi told CoinDesk:

“Most of the giant online businesses, such as Google, Facebook, eBay or Airbnb are basically centralized indexes – searchable lists of stuff. If we want to disrupt them, we need decentralized indexing.”

And that’s where GUN, which has been in the works since 2014 as well, comes in.

Two projects as one

To tie it all together, the decision was made to launch a new company called ERA.

“Martti and I were discussing how governments can still blacklist bitcoin miners’ IP addresses. Telecom companies, Google, Amazon or others can throttle or reroute our traffic without net neutrality,” ERA CEO Mark Nadal (also the CEO of GUN) told CoinDesk.

“This is a huge vulnerability that could affect everyone, thus why we’re building AXE,” he continued.

GUN, which is known for using simple stick-figure comics to explain how its tech works, scored a $ 1.5 million round led by Draper Associates earlier this year, and has already built a decentralized Reddit and YouTube.

While those services are a bit slower than their centralized counterparts, Nadal argues both have been taking off “like crazy.” And according to Malmi, Identifi can help decentralize the system further by offering a censorship-resistant identity layer.

While digital reputation systems can conjure up images from the “Black Mirror” episode “Nosedive,” whereby a mobile reputation system goes awry, Malmi says he’s been careful to improve on older attempts and keep these unintended consequences in mind.

In the context of ERA, Identifi provides a crucial role.

“You could have users digitally sign all their posts and use Identifi to fetch the identity profile (name, avatar, feedback etc.) that corresponds to the public key,” Malmi said. “You could use your Identifi web of trust to filter out spam, trolls and other kinds of unwanted content without resorting to centralized censorship. That is useful for decentralized social media.”

But to be truly decentralized, ERA needs people from around the world running the database systems – which is where the new crypto token comes in.

Reminiscent of older blockchain storage projects like Filecoin and Storj, ERA with AXE is supposed to incentivize users on the network to store data. But it takes a slightly different approach by paying servers to move encrypted data around (instead of paying them to store data).

Since the data is encrypted, the data won’t be readable by the servers moving it around.

Practical decentralization

Although Malmi is about to head a new cryptocurrency project, he’s still skeptical of the promise of blockchain tech as it’s been advertised recently.

“Blockchain technology is overhyped and pushed for applications where it is not useful,” he said. “If you don’t need a distributed ledger with no trusted parties, you don’t need a blockchain.”

Yet, he thinks ERA is going about incorporating cryptocurrency into a decentralized web in the “right” way. “Crypto should be given credit for incentivizing the decentralization of infrastructure,” Malmi continued.

Indeed, he and Nadal make a big deal about this tech being more “scalable” than other tech.

“The missing piece [to a decentralized web] was a decentralized database that could handle CryptoKitties scale traffic,” Nadal said, pointing to the blockchain-based cat app that earlier this year clogged the ethereum network to the point users were having trouble using other decentralized apps on the network.

To create that scalable system, ERA is only using its cryptocurrency as a decentralized money, and will not be using a blockchain to store people’s data.

In this way, they argue they’re on a better track to building something that people might actually want to use.

Though, admittedly, the apps built using GUN today are not nearly as large as the companies they hope to replace. Yet, they have big hopes the project will go beyond that, since like so many others in the industry they believe decentralization is the way of the future.

“One of the things I learned is that it is better to do what is meaningful, not what is expedient,” Malmi said, adding:

“I believe that decentralization of digital identity and other basic infrastructure of our society are the some of the most meaningful things a developer can work on these days.”

Martti Malmi image from ERA
Written by Bitcoin.com

 

 

SVK Crypto – Daily News Blog

SVK CRYPTO PODCAST 193 – 30/07/2018 – IBM LAUNCH BLOCKCHAIN APP STORE FOR BANKS!

https://www.podbean.com/media/share/pb-3887t-963f3d

Welcome to the SVK Crypto, 15 Minutes of Crypto Fame, brought to you by your host, Charles Storry. We provide daily cryptocurrency content and analysis on topics such as Bitcoin, Ethereum, Altcoins and ICO’s.

We not only produce our daily content we feature CEO’s of all exciting ICO’s! Stay tuned to find out more!

If you’d like to stay in touch or get more info from me, please SUBSCRIBE to the channel and spread the good word!

Follow us on Twitter: https://twitter.com/SVK_Crypto

Visit our website: http://www.svkcrypto.com

Email us: cstorry@svkcrypto.com

Telegram: https://t.me/SVKCrowd

SVK Crypto – Daily News Blog

European Parliament: the Cryptocurrency can be used as money

Regulators and governments around the world are very carefully studying cryptocurrencies. Bitcoin and altcoins — a new invention which brings a revolution in the financial world, and States need to understand how they can best be integrated into the economy.

This time the European Committee on economic and monetary Affairs stated that the virtual currency can be used as an alternative to money. The main objective of this study was to analyze the impact that can have cryptocurrencies on the economy.

According to the official statement, cryptocurrencies have value, which is determined by the laws of supply and demand. At the same time, they can be exchanged for other goods, services and sovereign currency.

The report States:

“Digital currency, also known as “virtual currency” or “cryptocurrency” can be defined as” a digital equivalent value, not issued by the Central Bank, credit institution or electronic money institution, the products of which in some cases can also be used as an alternative to money.”

In addition, the Committee explained: the emission is controlled by computer algorithms that helps to create a deficit in the future to increase the value. Recall that emission of Bitcoins — 21 million units. As soon as the market will get more and more people and investors, the amount of BTC will decrease. This will lead to an increase in its prices.

“The value of cryptocurrencies is determined by the law of supply and demand, and it is not supported by any monetary authority that is called decentralization,” — said in a statement. — Generation of new blocks is often controlled by computer algorithms, which help to create a deficit to maintain values. A common feature of various digital currencies is the use of a DLT “.

Moreover, cryptocurrencies are considered to be innovative and destructive. They work decentralized, as uncontrolled by any Central authority or Bank

Another important thing mentioned in the Committee related to the regulation. They recognize that it is difficult, and that this is a difficult topic to discuss. In addition, the European authorities are concerned about the concentration of mining outside Europe.

The post European Parliament: the Cryptocurrency can be used as money appeared first on FineCrypto.

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EOS added on Bitpanda

July 27 one of the most well-known cryptocurrency exchange platforms of Europe has announced the listing EOS.

According to an announcement posted on the official Twitter account Bitpanda, everyone can now buy tokens for cash EOS 400 branches of the Austrian post, as well as partner network, which has 1300 branches.

The only requirement for the purchase of tokens – email. Bitpanda assure users that the online operation of conversion of tokens will not take more than a few seconds.

Earlier Bitpanda also announced support for token ERC20:

Support ERC20 on Bitpanda means that we will be able to quickly integrate the tokens that are running on the Ethereum blockchain. The range of tokens that support this standard is very broad and includes some of the most interesting projects in the cryptocurrency space.

Team Bitpanda notes that support ERC2O token is a strategic step for the platform, because their aim is to strengthen the industry, through the offer the maximum possible amount of cryptocurrency assets.

As soon as supports ERC20, we will begin adding the tokens based on Ethereum. Among ERC20 token that will be added to the following: 0x [ZRX], Augur [REP] and OmiseGo [OMG].

The post EOS added on Bitpanda appeared first on FineCrypto.

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Only 2% of American investors own bitcoins, but 26% “intrigued” with this asset

The results of the survey Wells Fargo/Gallup published July 27, indicate that only two percent of American investors invested in bitcoin, but 26 percent of them expressed extreme interest in the asset.

An online survey was conducted from 7 to 14 may 2018 among the American investors with assets of more than US $ 10,000 in stocks, bonds or mutual funds. The results show that the vast majority of investors who have heard about bitcoin in the near future will be to invest in the cryptocurrency, and 72 percent said that “they are not interested in buying bitcoins”.

According to the survey, despite the fact that 96% of investors have heard about bitcoin, “only about three out of 10 investors (29%) said that they have some knowledge about digital currencies,” 67% said that they had heard about them but do not understand the subject well enough.

Despite the fact that initially bitcoin was supposed to be used as money, its high volatility made it “more popular as an investment with a good risk reward ratio”. The results of the survey show that 75% of respondents believe that investing in bitcoin is a “very risky” and 23% believe it is “somewhat risky”.

A study conducted in February Finder.com showed that 8 percent, or about 26 million Americans who have already purchased the cryptocurrency.

The post Only 2% of American investors own bitcoins, but 26% “intrigued” with this asset appeared first on FineCrypto.

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The price VeChain increased by 25% after the surprise announcement Binance

The price VeChain grew in a matter of hours after the unexpected announcement of the leading cryptocurrency exchanges Binance.

At the time of this writing VeChain increased by about 25%, and the current price is 2.47 dollar on CoinMarketCap.

A sharp increase occurred after Binance announced airdrop (airdrop), 100 million VTHO for customers whose balance is VeChain.

VTHO is, in fact, the currency of the new blockchain VeChainThor, similar to the token from the NEO GOS.

Airdrop will happen for all users who as at 1 August balance will be VET. New tokens will appear on the balance sheets of users 5 Aug. The total market value of all 100 million tokens VTHO, which will be issued, currently is about 3 million dollars.

Last month VeChain successfully launched its network. The startup is based in Singapore and focused on providing blockchain services to various corporate companies, focused on supply chain, state-owned enterprises, transport companies, etc.

The post The price VeChain increased by 25% after the surprise announcement Binance appeared first on FineCrypto.

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Ethereum is coming to “Constantinople”

The Ethereum developers have already implemented the code for “Constantinople” – the next system-wide upgrade of the network.

“Constantinople” is the second part in a series of upgrades that aims to make the ethereum network more efficient and less costly from the point of view of the commissions. The exact date is still unknown, but it is expected that this will happen shortly before the October conference Devcon4 ethereum.

However, the exact block number where the fork happens – is still unknown.

At the meeting the developers held this Friday, became known approximate road map for the upgrade. In accordance with this road map, the implementation phase will continue till August 13, after which, within two months will be tested, which will launch a test network specifically for “Constantinople”.

Currently the developers are working on 4 EIP. Peter’s Szilagi, a leading developer of Geth, the most popular client for ethereum, said they have already implemented most of them.

These EIP include the following: EIP 210, which reorganizes the storage of the block hashes on ethereum; EIP 145, which increases the speed of arithmetic computations on the ethereum virtual machine (EVM); EIP 1014 adds the channels status in ethereum; EIP 1052, which is responsible for the compression of the interaction contracts.

The meeting discussed two other EIP: one of which is connected with bomb difficulty, and the other is designed to improve the pricing system for GAS. However, neither one of them was not accepted any decision.

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