Cryptocurrency News

Ethereum Upcoming ‘Berlin’ Hard Fork Scheduled For 15th April.

Following Bitcoin’s [BTC] all-time high price rally, alongside much of the wider cryptocurrency market, Ethereum [ETH] continues to push new all-time highs today on Wednesday as the coin is presently trading at a price around $2,400 range for the primary time.

The Ethereum network is scheduled to undergo an update within the next day approximately when the blockchain reaches block number 12,244,000. The blockchain was at block number 12,237,070 at the time of reporting. Supporting the present average block times of 14 seconds, the update is poised to land on 15th April, at around 12:00 PM [UTC+1]. The update – referred to “Berlin” – will introduce several technical changes, all aimed toward making the network more cost-efficient.

The ETH coin price peaked at $2,397 USD on numerous exchanges on 14th April, consistent with aggregator data from CoinMarketCap, following a 10.8% growth surge over 24 hours. Ethereum growth for the week stands at 22.4%, while the coin price is now up 110% for the quarter – a figure that might be more notable under less explosive circumstances within the altcoin market lately.

The Berlin update is going to be unrolled within the sort of a hard fork – an irreversible change to the protocol of a blockchain. The hard fork is non-contentious, meaning no ideological differences within the community will cause the formation of a new coin – as was the case with Ethereum and Ethereum Classic [ETC] earlier in 2016.

Anyone holding Ethereum in wallets or on exchanges is going to be unaffected by the hard fork, however, miners and Ethereum node operators will need to update their software to synchronize with the newest version of the chain. Data from EtherNodes.org shows that 72% of Ethereum software clients have achieved Berlin-ready status in anticipation of the hard fork.

Speculation surrounding Ethereum potential price movements within the short term has ranged from tremendously optimistic [and definitely “not crazy”], to conservative & measured.

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