This decision should surprise: Ethereum has just had a successful hard fork and now the oldest British stock exchange Ethereum wants to exit.Has Coin Floor opted for deregistration due to problems with smart contracts on the Ethtereum blockchain? Analysis.Ethereum coin offer ban
Coin Floor is the UK’s oldest crypto exchange and will remove Ethereum from January.The reason given by the Stock Exchange is the uncertainties caused by the updates and the planned hardforks.Coin Floor CEO Obi Nwosu fears the instability of the cryptocurrency and also says that ETHs represent only a very small part of the trading volume.Because Bitcoin Cash (BCH) should also no longer be offered from January.
“The update to Ethereum 2.0 will take years, (…) due to the complexity, there could be two versions of Ethereum for a while”
The ETH Blockchain is currently converting its proof of work consensus mechanism to proof of stake and carried out a successful hard fork a week ago.A hard fork is an incompatible protocol change in which the blockchain can split into two different chains.
One would follow the new rules of consensus, the other would stick to the old ones.
However, this did not happen during the last Istanbul update.
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The Istanbul update has been successfully completed, but some issues only become visible after a while.As the Coin Metrics data analyst described on Twitter, there are currently issues with the execution of smart contracts on the Ethereum blockchain.
The cause of the problem is probably the new calculation of the price “GAS” that a smart contract pays to carry out its work.Failures in enforcing smart contracts quadrupled soon after the Istanbul Hard Fork.Twitter leak of ETH developer failures
As if that weren’t enough, the Twitter user asked Udi Wertheimer big charges against the Ethereum Foundation.It is an obligation for ETH node and service operators to install new updates every three weeks.Furthermore, according to his statements, the Ethereum blockchain is in real danger.He justified this by the “Ice Age functionality”, which should motivate developers and the system to progress in development and upgrades to a proof of participation system.The functionality continues to slow down the blocks in the blockchain, supposedly to force the community and developers to change their consensus.4 / In a hilarious way, on the hard fork of last week, they forgot to advance the ice age as usual.
Yes, I forgot.They thought it was not yet time.
Literally, the brilliant developers of Ethereum didn’t even know their own system enough to notice that the blocks were slowing down.
– Udi Wertheimer (@udiWertheimer) December 16, 2019 The Ice Age for Ethereum: more than one blow to the knee?
An imposed motivation that looks more like a whip than a lump of sugar.According to Wertheimer, the developers of Ethereum have been pushing the switch to PoS for far too long, but at the same time have the “ice age characteristic” on their necks.With the Istanbul update, the developers would now have forgotten to reset the built-in slowdown, which endangers the Ethereum blockchain and, according to Wertheimer, is against the guidelines of the ETH community.In the worst case, the blockchain could become so slow that it stops.
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Despite the less pleasant news about ETH, you can still remain relatively relaxed, as the long-term outlook for Ethereum Blockchain is always positive as the developers will keep the project alive.
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