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Is this article about the Metropolis Ethereum Hard Fork and what is its purpose? In recent years, digital currencies have experienced many ups and downs. One of the most popular platforms in this market is Ethereum, which is trying to improve the level of work and increase the number of its customers with its many developments. In this regard, one of the hard forks of Ethereum is Metropolis, which entered the market with the aim of improving the Ethereum network. Many experts believe that this hard fork has revealed the main functions of Ethereum, and its real version will be visible after the release of the Ethereum Metropolis hard fork.
There are currently many rumors surrounding this hard fork. The last time the Ethereum network changed due to a hard fork, from Frontier to Homestead, the price increased more than 100% from $12 to $30. To know more about the process of this hard fork, stay tuned till the end of this article.
You know the steps of the Ethereum Metro Police Hard Fork
This isn’t the first time the Ethereum network has been updated, and it certainly won’t be the last! Ethereum was not designed to be just a digital currency; Instead, it was designed as a platform for decentralized applications. However, before reaching this goal, it must go through various stages of development. At each stage, Ethereum evolves to a higher level by adding more features, resulting in a more powerful and integrated system. In general, the entire Ethereum installation process is divided into 4 steps. This is done to ensure that the different phases have their own development time and that each phase is developed as efficiently and effectively as possible. The complete Ethereum installation steps can be found below:
Frontier: Ethereum launched for the first time
Homestead: Ethereum’s current stage
Metropolis: The Next Stage
Tranquility: The final step that Ethereum 2.0 developers believe will be made.
The duration of the Metropolis Ethereum 3 fork includes a 4-step process and has many features that users will notice once it is implemented. In the following, we will introduce some of the main features of Ethereum Metropolis:
Proof of the execution of the original works
The flexibility and power of smart contracts
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What does Zk-Snarks do?
Zk-SNARK, which stands for Zero-Knowledge Succinct Non-Interactive Argument of Knowledge, is a type of zero-knowledge proof used in many blockchain systems and privacy-oriented technologies. This evidence allows a claim to be made without revealing details or information about it. The most important features of Zk-SNARK can be summarized as follows:
Zero knowledge: Proverb can imply that the other party has some information without giving him information about it.
Summary: This proof is very short and can be reviewed very quickly. Although the basic operation is difficult.
Asynchronous: Zk-SNARK is a single message that can be independently verified instead of switching multiple steps between the verifier and the verifier.
Zk-SNARKs have been used in many blockchain technologies and projects, including the Zcash blockchain, to ensure confidential transactions. These tests are particularly useful for applications that need to protect privacy while providing strong authentication.
Using Zk-Snarks is one of the features of the Metropolis Ethereum hard fork; Zk-SNARKs have various applications in various fields of technology and some of their common and important applications are as follows:
Authentication Software: Allows a user to provide their identity to an authentication system. Without any identity
Offline processing and online verification: Allows you to perform an offline calculation and then send the result securely and confidentially to an online system.
In-App Privacy Protection: Some apps store user information using this feature. At the same time, he receives from them the necessary information for performing specific tasks.
Confidential Blockchain Transactions: Used to hide transaction information in blockchains such as Zcash. In this way, transactions can be verified without revealing their details (such as transaction amounts or addresses).
Anonymous Evidence: Zk-SNARK can be used to prove details such as age or nationality without revealing a person’s general identity. For example, a user can use Zk-SNARK to prove they are over 18 without revealing their date of birth.
Identification of the certificate of initial execution of shares
Before explaining the main functionality of Proof of Stake, we must first understand the difference between Proof of Stake and Proof of Work:
proof of work
Proof of work is the protocol that has governed most cryptocurrencies such as Ethereum and Bitcoin so far. The mechanism behind this algorithm is that miners earn digital currency by solving encrypted puzzles and using dedicated hardware.
Proof of stock
This protocol simulates the entire mining process. In this system, instead of miners, we have validation. The way it works is that as a cryptocurrency validator, you must first lock up some of your ether as a stake. After that, the block check will begin.
Validation means that if you see blocks that you think can be added to the blockchain, you can verify it with a stake. Additionally, if a block is added, you will receive a reward proportional to the shares invested. However, if you bet on the wrong or malicious block, your stake will be lost. To implement “Proof of Stake”, Ethereum uses Casper’s consensus algorithm.
Ability to scale
Proof of Stake expands blockchain by introducing the concept of “sharing”. Although simple proof-of-concept implementations already exist, Casper stands out by encouraging honest miners and punishing those who aren’t. So keep in mind that if you leave your stake in a harmful block, your stake will be forfeited. Simply put, those who don’t follow the rules will be punished.
What is a hard bomb?
What motivates miners to switch from proof-of-work to proof-of-stake? Miners buy thousands of dollars worth of equipment to mine blocks, but in the end, with POS, all that equipment is useless. Imagine spending a lot of money buying equipment and building a very complicated pool, and it does you no good! So what prevents miners from staying on the old proof-of-work chain and continuing to work based on this algorithm?
How does adding blocks work?
If we want to summarize the whole process of adding a blog to the web, it would look like this:
Get the contents of the new block with the hash.
Adding an occasional random string to the hash.
Repeat the new line.
Compare and check the final hash against the difficulty level. It’s really less than that.
If not, the nonce is changed and the process repeats.
If the final hash is less than the difficulty level, the block is added to the chain and the public ledger is updated and notified of the addition.
Minors are held responsible for this.
The difficulty level is directly proportional to the speed at which blocks are mined Bitcoin has an average block time of 10 seconds; If the block time is less than this, the difficulty level will increase If it is more, the problem time will decrease This is done to ensure that the Bitcoin block time stays around 10 seconds Basically Bitcoin mining follows this process and Ethereum also follows the same protocol .
4 levels of Ethereum and Ethereum’s Metropolis
Of course, this is not the first time Ethereum has been upgraded and it won’t be the last. Ethereum was not designed to be just a cryptocurrency. The design purpose of this digital currency is to be a platform for decentralized applications. However, before you can do this, you must go through many different stages of development. With each phase, Ethereum “levels up” by incorporating more features that make the system more powerful and integrated.
The complete Ethereum launch process is divided into four stages. This is done to ensure that each stage has its own development time and that each stage is developed as efficiently and optimally as possible.
Here are the 4 steps:
Frontier: This is what everyone got when Ethereum first launched.
Homestead: The stage we are writing.
Metropolis: The Next Era
Rest: The last step
Metro Police is the 3rd step in a 4-step process and has a lot of exciting features when it goes live. Here are some important ones that will have far-reaching consequences.
Ethereum Metropolis Hard Fork Kernel
September is an exciting month for Ethereum enthusiasts. The Ethereum development team is working hard to make Metropolis a great Ethereum development. This hard wire is ready to solve these problems. The Ethereum Metropolis hardwire is divided into two cores: Byzantium and Constantinople. Byzantium is expected to release with 4.3 million blocks and the release date is probably September 22nd. As for the Constantinople hub, the release date is not yet known, but it will probably be implemented after the Byzantine hub.
Byzantium Core Hard Fork Metropolice Ethereum
This core introduces changes to the Ethereum 9 protocol that include changes to data feedback, reduced network complexity, static call control, and the ability to execute new code. These changes are expected to cause minimal damage to the network. Changes were also made to change incomplete smart contract codes and cause non-payment in case of software errors. In addition, the security of the contract increases.
Another nice change is the difficulty delay for Ethereum mining (called “Explosion Countdown”). Byzantium reduces transaction confirmation time. Another change in the mining process is to avoid multiple difficulty errors and make blocks stable. A new cryptography called zk-snarks in Byzantium core allows completely private transactions on Ethereum.
Constantinoble Core Hard Fork Metro Police Ethereum
On this basis, it is possible to reduce the complexity of the contract approval process and use light clients in the network. Overall, this core will increase transaction speed and security. It is clear that all Ethereum enthusiasts are counting down the minutes to this hard fork. Unless something special happens with the changes and improvements that reduce the difficulty of mining, increase the speed and increase the security that this fork brings to Ethereum, we expect the price of Ethereum to rise significantly. The exact release date for this hard fork has not been published, but it has been announced in late September or early October (late September – early October).