Cryptocurrency News

Ethereum Developers Have Approved Two Code Modifications For Hardfork Istanbul


Two proposals for improving Ethereum (EIP) have been approved for inclusion in the next large-scale update of the second most capitalized cryptocurrency, according to CoinDesk.

EIP 2024 and EIP 1702 is an officially approved code changes for the expected in October hard forks Istanbul. During yesterday’s conference, the developers approved only two of the code changes from about 30 EIPs under consideration.

However, the EIP 2024 proposal (in some documents – EIP 131) adds a new precompiler to the Ethereum virtual machine (EVM), designed to optimize the work of the blockchain and make operations less expensive. In particular, EIP 2024 represents the precompiler for the new hash function Blake2, which verifies the data in the blockchain faster than SHA-3, for example. Various variations of Blake2 are used by some projects, including Zcash and the domain name Handshake platform.

Blake2B means that we could interop with zcash on the ethereum main network,  said James Hancock, developer and co-author of EIP 2024.

EIP 1702, in turn, aims to optimize the renewal of smart contracts. The author of the proposal is the developer of Parity Technologies, Wei Tan.

Also, this proposal involves the introduction of a new methodology for hard forks – “account versioning”, that simplifies the process of updating or launching a new virtual machine.

“By allowing account versioning, we can execute different virtual machine for contracts created at different times. This allows breaking features to be implemented while making sure existing contracts work as expected”, said Tan.



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