Istanbul Upgrade: 28 Ethereum Improvement Proposals Under Consideration

Ethereum’s developers have submitted 28 ethereum improvement proposals (EIPs), which include recommended codebase modifications that may be integrated into the upcoming Ethereum (ETH) network hard fork, called Istanbul.

The EIPs  are expected to change the smart contract platform’s mining algorithm, code execution and pricing mechanism, and data storage process.

Deciding Which EIPs to Include With Next Hard Fork

During the bi-weekly meeting between Ethereum Core developers (on May 24, 2019), the blockchain network’s development team discussed various approaches and EIPs which may help the platform scale effectively.

Commenting on the process for considering EIPs to be added to Istanbul, Hudson Jameson, the Community Relations Manager at the Ethereum Foundation, remarked:

We’ll talk more on the All Core Devs Gitter channel to wrangle in some of these EIPs that are still stuck in proposed and as quickly as possible decide on which ones are being implemented for Istanbul.

EIP 1108 Tentatively Approved During Bi-Weekly Meeting

Jameson also confirmed that the deadline for submitting EIPs to be considered for Istanbul passed on May 24. He added that Ethereum’s developers are now reviewing the proposals in order to determine whether they should be implemented in the next Ethereum hard fork .

EIP 1108, which recommends small adjustments to Ethereum network gas fees, was tentatively approved this past Friday (during the bi-weekly meeting). As explained on its Github page, EIP 1108 addresses the following:

The elliptic curve arithmetic pre-compiles are currently overpriced. Repricing the pre-compiles would greatly assist a number of privacy solutions and scaling solutions on Ethereum.

Currently, the implementation details related to EIP 1108 (and other EIPs) are being reviewed and Ethereum Core developers will be presenting benchmarking figures for repricing pre-compiles (for EIP 1108) during the next bi-weekly meeting.

According to Ethereum developer Rick Dudley, EIP 1559, which proposes a new type of transaction fee structure for Ethereum, is “a pretty complicated change.” Dudley believes that the final implementation specifications for EIP 1559 will most likely not be finalized by the time Istanbul goes live.

He also confirmed that the Istanbul hard fork, or backwards incompatible upgrade, will be activated at some point in October 2019. However, Istanbul’s Github states that the exact date and time for the planned Ethereum network update is to be determined (TBD).

ETH Mining Protocol Change Under Review

EIP 1057, which recommends a change to Ethereum’s proof-of-work (PoW) mining protocol, is also being considered to be included as part of Istanbul’s codebase modifications. Notably, the market for ether mining rewards has been estimated to be at $655 million (per annum) and powerful ASICs have been consistently outperforming lower-priced and less powerful graphics cards.

One of the design goals, for Ethereum, is to reduce miner centralization by modifying the current PoW mining protocol or replacing it with the ProgPoW algorithm.

Explaining why the implementation of ProgPoW was postponed, Jameson said

We ran into issues starting the ProgPoW audit. We had a hardware partner who specialized in ASICs who was going to work with Least Authority to perform the hardware parts of the audit. They are no longer participating in the audit so we are looking for other auditors for the hardware portion.

Developer Compiles Spreadsheet of All EIPs Under Review

In statements shared with CoinDesk, Ethereum developer James Hancock noted that the smart contract platform’s development team will be working on merging accepted EIPs for Istanbul. The merged proposals will then be added to Ethereum software clients, Hancock explained.

He also mentioned:

The suggestion is to have reference implementations in two ‘major’ clients. The definition of major is pretty loose.

The blockchain developer has compiled a list of all EIPs being considered for Istanbul and they’ve been marked to indicate whether they’re “ready” to be integrated into the Ethereum mainnet

Unknown Fund Investing $75 Million in Bitcoin for the Development of Anonymity

  • Unknown Fund has pledged to donate and invest $75 million in bitcoin to promote the development of anonymity.
  • The fund will prioritize projects that protect personal data, including crypto and blockchain. 

An anonymous organization by the name of the Unknown Fund has pledged to donate and invest $75 million in bitcoin for the further development of privacy-focused projects. 

According to the press release published Nov. 13, Unknown Fund has announced an intention to invest and donate $75 million in BTC to “startups which directly or indirectly support the idea of anonymity.” The release claims the fund will give preference to projects focused on the protection of personal data, tools for anonymity, cryptocurrency and blockchain. 

An anonymous spokesperson for the fund said, 

We are you, we are your sons and daughters, brothers and sisters, friends and colleagues. Our ranks consist of representatives of many countries and nationalities, united by a virtual comradely spirit and the belief that we are fighting for the good of many, and not for the benefit of some. Anonymous is the voice of those who believe in truth, freedom and the right to self-expression.

The release claims the fund is comprised of “ordinary, anonymous people” from different countries who first met through collaborating on the forum 4chan. The group calls the protection of personal data “one of the main challenges for modern man” and claims that data collection has already been used as a powerful tool for manipulation. 

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