Ethereum Devs Reach Consensus to Delay Constantinople Hard Fork Until January 2019

Ethereum (ETH) core developers have reached a consensus to delay a planned hard fork of the protocol until January 2019, in a meeting Friday, Oct. 19.

The fork, dubbed “Constantinople,” was first trialed on Ethereum public testnet Ropsten on Oct. 13, and had been slated to be activated on the main Ethereum blockchain by the end of Oct.-Nov. this year. A testnet is essentially a simulated version of the primary network that allows developers to try out smart contracts or upgrades without having to pay “gas” (computation fees) for their execution.

Towards the end of their hour-long meeting yesterday, the devs finally reached a consensus that the Constantinople will at “the earliest” come in late January 2019.

During the meeting, one dev quipped it might be less controversial, or “political,” to change the term for the transition from “hard fork” to “update.”

Yesterday’s meeting followed after Constantinople’s debut on Ropsten Oct. 13 had run into a series of hurdles; ahead of its activation at block 4,230,000, the fork stalled at block 4,299,999 for two hours, with testnet miners failing to activate the transition. Ethereum client developer Alfri Schoeden explained at the time this was due to “a consensus issue” that had triggered a “three-way fork” between Geth and Parity (two Ethereum clients).

In notes published ahead of yesterday’s meeting, Schoeden outlined that “[r]ecently added hashpower caused reduced blocktimes and caused this hardfork to happen much earlier than expected on a Saturday,” which he suggested is “by all means the worst time for a hardfork.”

He pointed to the fact that the fork happened just six days after the latest Geth client release, and 1 day after Parity’s, leaving users without sufficient time to upgrade. The devs also discovered a consensus bug in Parity, according to a “post-mortem” posted to the “Fellowship of Ethereum Magicians” earlier this week.

Schoeden noted that “not a single” user was mining the Constantinople chain, hence the two-hour delay to start processing block 4,230,000. Moreover, the community does not currently have a testnet fork monitor, he said, aside from http://ropsten-stats.parity.io, which “does not reveal details about the different chains.”

In light of the issues, developer Hudson Jameson picked up on another dev’s “good” proposal during yesterday’s meeting, which would be to “regularly spawn and min[e] temporary testnets to test transition into Constantinople […].” On a “baby” testnet, Jameson considered, “if something goes wrong we’ll know it pretty quickly.”

As previously reported, the Constantinople hard fork is is a system-wide Ethereum update designed to increase the network’s efficiency, and notably includes plans to reduce block rewards for miners, as well as to introduce changes to the network’s consensus mechanism that would make it more resistant to ASIC miners.

As of press time, Ethereum is trading at $203, up around 1.4 percent on the day.

AltcoinToday.com

Photo via Shutterstock.

Source: Cointelegraph

loading…

$50 Million Bitcoin Mining Farm Opens in Armenia

$50 Million Bitcoin Mining Farm Opens in Armenia

Mining

A new cryptocurrency mining facility opened in Armenia on Oct. 18. The $50 million farm will extract bitcoin and ethereum using 3,000 machines, according to local media reports. Around 120,000 more miners are to be added in the months to come.

Also read: Marks Jewelers Now Accepts Bitcoin Cash For Payments

Multi Group and Omnia Establish Landmark Armenian Mining Facility

The mining project, spearheaded by Armenian real estate investment company Multi Group Concern and Malta-registered Omnia Tech International Company, was officially launched in the Armenian capital of Yerevan on Thursday. The country’s Prime Minister Nikol Pashinyan, businessmen and entrepreneurs from China, South Korea and the United Arab Emirates attended the ceremony, Arka News Agency reported.

$50 Million Bitcoin Mining Farm Opened in ArmeniaGagik Tsarukyan, an Armenian businessman and politician who is also founder and head of Multi Group, said the company spent $50 million creating the facility, including the installation of industrial level cooling systems. The farm’s first floor is designed for an information technology business center that runs around the clock, he explained.

According to an earlier statement by Multi Group chief executive Sedrak Arustamyan, the farm will be operated by Omnia Tech, a mining entity that offers lifetime contracts and daily payouts. Omnia Tech has said to be in partnership with Genesis Mining, a leading cryptocurrency hashpower supplier.

“We will also help Omnia Tech with the establishment of the Financial Technology Park and the data exchange center in Armenia,” Arustamyan said in April. Robert Velghe, Omnia Tech founder, indicated at the time that the two companies were planning to invest more than $2 billion in mining projects in Armenia. “We intend to create here a blockchain-based center for the development of new information projects, which will turn Armenia into a high-tech platform,” he said.

 Global Cryptocurrency Mining Operations Rise

$50 Million Bitcoin Mining Farm Opened in ArmeniaArmenia is aiming to create its own Silicon Valley by establishing a free economic zone that will host a state-of-the-art technology center, officials have said. The new mining facility, the country’s first, comes at a time when a number of countries are implementing and expanding blockchain technologies. Georgia, Armenia’s neighbor, set up its first bitcoin mining farm two years ago.

In August, Russian company Kriptoyunivers announced it had transformed a former fertilizer laboratory into a cryptocurrency mining operation. The center, which supports the mining of bitcoin and litecoin, was built over 4,000 square meters of land in the town of Kirshi near St. Petersburg, with an investment of 500 million rubles ($7.4 million). Although Moscow has cracked the whip on illegal attempts at cryptocurrency mining, Russia is still the third largest cryptocurrency producer in the world after China and the United States.

What do you think about the new mining facility in Armenia? Let us know in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi Pulse, another original and free service from Bitcoin.com

U.S. Jewelry Store Latest Retailer to Accept Cryptocurrency as Payment

A U.S.-based jewelry store is joining a growing and long list of retailers who are accepting cryptocurrency to pay for goods.


If the crypto industry has been good to you and you’re in the market for something shiny, then you’re in luck. According to a press release, Marks Jewelers is the latest retailer to accept cryptocurrency as a payment. The US-based jewelry store’s wide range of beautiful diamonds and timepieces will most likely have you parting with your crypto in no time at all.

Reaching More Customers Around the Globe

By collaborating with Shopping Cart Elite, an e-commerce platform, Marks Jewelers will be able to accept Bitcoin Diamond (BCD), Bitcoin Cash (BCH), Bitcoin (BTC), Bitcoin Gold (BTG), Dash, Ethereum (ETH), Litecoin (LTC) and Zcoin (XZC).

The Director of Marketing for the jewelers, Joshua Rubin, spoke about his excitement for this new venture and how it will impact the company:

We’re very excited to begin accepting cryptocurrency payments from our customers around the world. This will allow us to make our fine jewelry available to the global market while paying lower fees and avoiding chargebacks. Marks has long been known for our meticulous craftsmanship and curated selection, and we are thrilled to open our store to the world.

While convenience and customer-base expansion are obvious benefits for the company, their clients may also experience discounted rates. This is because the savings that Marks Jewelers will enjoy, such as lack of currency conversion fees and reduced transaction costs, could translate into more affordable product prices for their customers.

Cryptocurrency Acceptance Continues to Grow

While perhaps the latest, Marks Jewelers is by no means that only retailer that is accepting virtual currencies as payment. Overstock saw the crypto light back in 2014 when they began accepting Bitcoin and its brethren. Live Bitcoin News also reported on a Texas-based luxury vehicle dealership that began accepting crypto as well as another U.S.-based car dealership that recently sold a car completely paid for in Dash.

However, if you really want to up the ante and buy your own yacht or even the ever-popular Bitcoin status symbol, a Lambo, then sites like the Dadiani Syndicate were made for you. With these platforms, bridging the divide between virtual wealth and tangible luxury assets is getting easier and easier.

So, the moral of the story is that you don’t have to let your lack of fiat stop you from popping the big question or buying that priceless work of art. Just find a platform that can accept your crypto and treat yo’ self.

What would be the first luxury item you’d buy if you had some crypto to spare? Let us know in the comments below!


Images courtesy of Pixabay and Shutterstock.

Tags: , , , , , , ,