What is Ethereum Istanbul hard fork? and 60% of the nodes are not ready yet at the moment

After the Constantinople upgrade was completed in February 2019, the ETH team decided to release Istanbul – the latest update of the hard fork is in the final stages of the transition to Ethereum 2.0. However, while there are only a few days left until the Istanbul hard fork, the Ethereum network does not seem ready to upgrade.

What is Ethereum Istanbul hard fork?

Istanbul is the name given to this network upgrade. Previous network upgrades have been given other names such as Constantinople, Spurious Dragon, and Byzantium. Also, Istanbul is an update that affects ETH hodler or users of countless decentralized network applications in gaming, decentralized finance, etc. The Istanbul hard fork includes six improvement proposals Ethereum (EIP).

These proposals were chosen from over 30 original proposals. Deployed upgrades include EIP-152, providing Ethereum with some compatibility with the ZCash chain; EIP-1108, making zk-SNARK on-line cheaper allow private and scalable applications than their previous upgrade counterparts; and EIP-2200, change the cost of data storage in the Virtual Machine of the blockchain and will enable certain smart contract functions.

The Istanbul hard fork will most likely have no consensus

According to the cryptocurrency trading platform Quadency, about 60% of nodes are not ready to upgrade Istanbul. Specifically, about 62% of Geth client nodes and 58% of Parity client nodes are not prepared. If the nodes are not present enough when the hard fork occurs, the Istanbul upgrade will never be completed. Therefore, the Ethereum community has called for operators of nodes to update their clients to avoid consensus issues.

The post from the Ethereum Foundation blog highlights:

“If you are using an Ethereum client that is not updated to the latest version (listed above), your client will sync to the pre-fork blockchain once the upgrade occurs. You will be stuck on an incompatible chain following the old rules, and you will be unable to send ether or operate on the post-upgrade network.”

If all goes well, there will be no problem of disagreement when Istanbul activates. Provided that businesses dealing with Ethereum (exchanges, DeFi operators, etc.) and miners / other maintainers of the network upgrade their nodes before the activation of Istanbul.

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