Hard fork and Rothschild fuel ETH course


Ethereum has set a new all-time high of over USD 2,500 in the course of its latest software update “Berlin”. ETH received additional tailwind from Rothschild Investment.

That just went well again: Ethereum carried out the first hard fork for its beacon chain on April 15th. With the network update “Berlin”, a total of four protocol changes (Ethereum Improvement Proposals, EIP) were introduced. The bottom line was that the hard fork was a success – but it looked different for a short time.

The changes to the Berlin hard fork

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EIP-2565 lowers the gas fees for performing discrete exponential functions, which are the basis for many cryptographic functions such as zero-knowledge proofs.

EIP-2718 introduces a new type of transaction (“Envelope Transactions”), which will serve as a framework for the introduction of new future transaction types that are backward compatible with previous transactions. Although this was already possible before the Berlin Hard Fork, it was associated with a lot of effort.

EIP-2930 is an example of one of these new types of transactions. The protocol change allows users to create templates for future complex transactions to reduce gas costs.

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EIP-2929 increases the fees for certain smart contract operations (opcodes). Specifically, it is about opcodes that make memory requests (SLOAD, * CALL, BALANCE, EXT * and SELFDESTRUCT). Running these opcodes for the first time is now three times more expensive. This should make DDoS attacks (Distributed Denial of Service) more difficult. In 2016, attackers launched a DDoS attack on Ethereum almost lame, in which 50,000 of these memory requests were made in a block.

Ethereum: Berlin hard fork successfully implemented after starting difficulties

The Berlin upgrade did not go off without a hitch at first. On the one hand, there were problems with network nodes that use the Ethereum Client Open Ethereum (formerly Parity). There was one at block height 12,244,294, 294 blocks in the Berlin Hard Fork Consensus error, which made it impossible for Open Ethereum Nodes to synchronize with the network. However, the error, which affected around 13 percent of all Ethereum full nodes, has now been resolved Fixed.

Ethereum with all-time high

In the meantime, the Ether price has set a new all-time high in the course of the Berlin Hard Fork of US $ 2,544. The price jump also correlates in time with the announcement that the institutional investor Rothschild Investment Corporation has invested 4.75 million US dollars in the Ethereum Trust of the crypto asset manager Grayscale. With its Bitcoin Trust, Grayscale is one of the superlative BTC whales. The asset manager now holds a whopping 654,885 BTC (the equivalent of around 40 billion USD). That corresponds to over 3 percent of all Bitcoin units that will ever exist. The Grayscale Ethereum Trust has managed $ 7.7 billion since the Rothschild investment.

At the time of going to press, the price of ether was USD 2,381 and had to drop 2.6 percentage points in a 24-hour comparison. One or two talers should have flowed into the Memecoin DOGE, which is once again showing an exorbitant performance today.