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Ethereum could see a number of changes over the coming year, after revelations that senior developers have had many discussions about an undisclosed upgrade.
Implemented, the changes are expected to significantly improve the performance of the platform, which is reportedly slated for release by June 2019.
The changes are attributed to four meetings held privately during Devcon4 in October, which refer to the potential upgrade dubbed “ethereum 1x”.
The minutes are part of an internal document posted on Github on Friday by Ethereum Virtual Machine (EVM) engineer Greg Colvin.
The main reason that the minutes have not been released all this time has to do with the differing opinions of some of the senior developers of the platform.
The main sticking point is how to engage the Ethereum community and solicit general comments on sensitive issues that include technical proposals.
Although the changes to the network code come primarily from the developers, the decision to involve the community stems from the nature of public blockchain networks. As with other public blockchains, changing the rules requires distributed consensus before any of these changes take effect.
Reports suggest that Ethereum heavyweights, including creator Vitalik Buterin, Consensys founder Joseph Lubin, attended one of the meetings. Notable numbers also include developers Peter Szilagyi, Lane Rettig, and Hudson Jameson.
According to notes referenced by Coindesk, Ethereum developers are under increasing pressure to improve their roadmaps, a move that is now expected to see several improvements added via system-wide upgrades.
Set of updates planned for 2019
It would appear that the targeted improvements include a modification of the Ethereum Virtual Machine (EVM) and the introduction of “rent” charges for smart contracts.
According to the document, the project will encompass the urgency of implementations, involving “sequential updates” and in-depth public comment.
Ethereum developers have also held several discussions about an implementation dubbed eWASM, which is being considered to replace EVM, presumably to make network computation faster than it currently is.
Some programmers favor private discussions, which gives them the ability to work faster and with minimal fluctuations.
However, Vitalik Buterin, who attended the discussions, reportedly expressed his disapproval of such private meetings, saying he preferred much more transparency and remained “uncomfortable with institutional private appeals and absolutely against them. private forums.[s]. “
Although in favor of transparency and public participation, Afri Schoedon of Parity said in a discussion forum Friday that no such planning had taken place without involving the public.
He said it was “good” to work in such private groups, but to ensure that meetings remain within the realm of public participation, they “should be transparent and perhaps start with a public announcement. “.
The developments come even as Ethereum (ETH) continues to collapse under the bearish market, with prices falling rapidly. The coin is currently down around 10% on the day and could reach $ 100 in the near term.
Ethereum, ranked third, now has a market cap of $ 11.5 billion and is trading at $ 110 against the US dollar.
It is not investment advice. Cryptocurrencies are very volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.
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