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The Byzantium Fork Will Hoist Ethereum Price Up to $400 – Future Prediction Within the Bullish Trend

While Ethereum price just broke the $300.00 mark successfully on Sep 27 (ETH against the USD is trading now at $305.62 with 5.64% gain in the last 24-hours) as the market restructures, however for the next catalyst for another upward climb could the Byzantium hard fork be.

Originally scheduled to take place on October 9, the fork was postponed to October 17 because, Ethereum founder Vitalik Buterin said that it was the smart thing to do.

The main purpose of the suggestion by Buterin was for a more successful fork adoption by the miners. Keeping in mind that the difficulty increased for the incentivize miners into changing towards another chain is not that high so network blocks are still mineable.

This will, in turn, foster a consensus around the fork, making it a permanent feature of the blockchain without any kicking and screaming.

The Byzantium upgrade will add up privacy features onto the ETH blockchain. The same type of development made Zcash or Monero very popular in the crypto-market and community.

As the list of upgrades grows larger, the attractiveness of Ethereum as a blockchain and cryptocurrency  for future investors and traders.

For many crypto enthusiasts, the Ethereum fork is the only Ethereum news that matters in the next month. It could very well spark a bullish rally to drive ETH prices back to their former level of $400.00, or it could take them further.

ethereum prediction

It envisions a scenario in which use-cases of decentralized applications are adopted in B2B functions first, creating a groundswell of invisible support for the currency. And as the market absorbs this uptick in commercial use, ETH prices will accelerate to $1,000, then beyond.

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Scheduled time for Ethereum Byzantium Hard Fork in October 17: Vitalik Buterin on the Matter

The “Byzantium” Upgrade for Ethereum’s Network will be taking place one week later.

The first step of the complete Metropolis update – Byzantium hard fork – will happen at the block/nr 437,000,000 which would be around Oct 17. Earlier it was expected that the hard fork will take place on Oct 9.

This postponed time was given as an Idea by the founder – Vitalik Buterin, in a core developer discussion that the platform should be conservative relative to the past forks that took place.

“We’re not in an emergency situation,” Buterin said.

The main purpose of the suggestion by Buterin wasfor a more successful fork adoption by the miners. Keeping in mind that the difficulty increased for the incentivize miners into changing towards another chain is not that high so network blocks are still mineable.

Because of the Ethereum developer conference in November, the date could not be pushed even later by Vitalik Buterin as the idea was discouraged.

According to developer – Hudson Jameson, the date is final only of course in the event that something might go wrong.

On the Ropsten Testnet – the testing level of the Byzantium phase has officially started on Tuesday as per time now everything is going as planned. The blockchain even verified its first private transaction following the fork.

Despite the attack yesterday that took place on the Byzantium testnet as the malicious user did release enter blocks with expensive spam contracts, Buterin did point down the event as “fairly inconsequential.”.

Going forward, coordinated efforts, described by Buterin as “groups of people throwing whatever junk on the ethereum blockchain that they want to” will continue on Ropsten to ensure that all ethereum clients can handle the changes that are incorporated into Byzantium.


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