An influx of research and development is beginning to form around ethereum 1x, a proposed upgrade that aims to more quickly improve the usability of the world’s third-largest blockchain.
While the exact code changes that will comprise the upgrade have yet to be settled, active discussions suggest a myriad of different proposals could be activated by June 2019, should a final proposal ultimately be formulated, proposed and approved by users of the ethereum network. Still the plan, first reported by CoinDesk last week, is in its early stages of development.
Indeed, there’s even been a suggestion by Afri Schoedon, release manager for the Parity ethereum client, to release the upgrade on its own, separate blockchain network. Nevertheless, there are many voices contending ethereum 1x ought to be activated on the existing blockchain – and soon. Originally thought to be an addition to an upgrade called ethereum 2.0 – ethereum creator Vitalik Buterin has referred to it recently by an older name “Serenity” – the roadmap for this upgrade changed in June to include new design specifications that are projected to delay activation. As explained to CoinDesk by Schoedon, developers are now more certain ethereum 2.0 will not go into production before the year 2020. According to Schoedon, developers “started panicking and saying, ‘Hey we really need to find intermediate solutions’” – creating the impetus for new ideas able to be implemented in the near-term. And though ideas for ethereum 1x may “sound too radical or controversial” for now, Schoedon said that the goal is to discuss any and all ideas inclusively with community stakeholders such that “none of the upgrades will be controversial in the end.” With plans for ethereum 1x originally discussed during in-person meetings at an ethereum developer conference, Devcon4, earlier this month, certain members of the community were disgruntled at the lack of public involvement. Still, the controversy has been set aside for now with the creation of public forums to openly discuss ethereum 1x.
About Ethereum (ETH): Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middleman or counterparty risk.The project was bootstrapped via an ether presale in August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss non-profit, with contributions from great minds across the globe.
Ethereum (ETH) is the 3rd largest cryptocurrency by market cap size. It is down 2.83% over the past 24 hours and is currently trading at $113.95. It can be bought with fiat dollars, credit cards, or debit cards on cryptocurrency exchanges such as Coinbase, CEX.io, and Changelly.
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