Byzantium: Smooth Sailing, So Far

Byzantium

It’s still a bit early to deem the new Ethereum upgrade, Byzantium, successful but their developers have voiced it is running smoothly up to this point.  Hudson Jameson, Byzantium’s release manager, spoke to CoinDesk and has stated the new software is running steady. He attributed the stable software to “the hard work of the developers, users, and miners across the Ethereum ecosystem.”

The network is currently going through an adjustment period, as expected. Some blocks are currently being mined in as little as 1 second, but others are dragging to a minute. The average time is 25 seconds per block.

In addition, blocks are filling with high numbers of transactions. That means promising things, as Ethereum can continue to grow without slowing down the network.

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Ethereum’s fork tracker has shown that the mining with the old rules on the old blockchain has ended. Ethereum Classic, took advantage of this fork last year and tried creating a new currency based off of the old blockchain. The end of mining indicates that there is no new currency, a success for Byzantium.

CoinDesk also spoke to Ethereum developer, Afri Schoesdon. He claims that there is still a chance someone will mine the old blockchain but it would be at a very high cost to them.

Many days before the release of the fork, developers were working steadily as last-minute faults were found in Byzantium’s software. Node operators (mining pools) and the developers installed updated software well into the weekend trying to get it corrected in time for the release.

A high proportion of the nodes have yet to install the Byzantium update. The figures are slowly changing and a trickle of nodes have jumped on board arriving a little late to the party.

According to CoinMarketCap the price per ether dropped in the lead-in to the fork, immediately after though, prices peaked close to the monthly high of $350. At press time, the prices have dropped down to $337, around the same figure it stood at before the Fork.

Featured Image: twitter

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