Byzantium fork for Metropolis is live

Byzantium fork for Metropolis is now live on Ethereum’s Ropsten testnet
19 September 2017   3257

The date of a launch for the Byzantium testnet, the next critical step towards Metropolis, a major upgrade for Ethereum, has been announced recently.

The day has come

Thus, today marks a significant milestone for Ethereum. The first iteration of Metropolis upgrade is finally being tested on Ethereum’s testing network, as reported by ethnews.com.

According to the report, the Ethereum Ropsten testnet has reached block number 1,700,000. Hence, Geth 1.7 has automatically implemented nine Ethereum Improvement Proposals (EIPs) as well as the Byzantium hard fork.

There are two main upgrade optimizations taking place today:

  • Data storage requirements for fast-synced nodes have been nearly halved, from 26.3GB to 14.9GB.
  • The reduction of filtering time required for contract events being stored and indexed by the EVM from minutes to seconds.

It is believed, that this is the beginning of a new era and a gradual shift away from proof-of-work and toward proof-of-stake. 

Ethereum charts on coinmarketcap.com Ethereum charts on coinmarketcap.com

Meanwhile, Ethereum is doing well and making progress in growing. At the time of writing, the price of the cryptocurrency is about $283, its market capitalization is $26,847,744,466.

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   66

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.

 

Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.