Ethereum 2.0 expected to be the fix for the many issues which Ethereum faces. There is renewed criticism of the network’s approach by Bitcoin Maximalists, and Ethereum now intends to roll out new changes during the New Year of 2020. If something goes wrong,
The majority of the node operators are ready for Muir Glacier, Ethereum Upgrade. This hard fork is a forced upgrade due to a mistake in Istanbul. The upgrade should have been completed by December 30, 2019. About, 74.2% of clients are ready for upgrade. About “75% of Geth, 74% of Parity, 100% of Nethermind, and 100% of Besunode operators are ready.”
Most of them are ready for the Ethereum Hard fork on New Year Day.
“If anything goes wrong with the hard fork, it will be the worst day of the year for recovery. January 1 would be relatively inactive for crypto markets, but updating a node may not be on everyone’s New Year resolution list.
Ether nodes state that about 63.2% of the nodes have tweaked and ready to go live with the changes done. However, 40% are slow, and the tweaking of their protocols are not complete yet. Over the past three months, there has been a drop of nearly 20% due to the difficulty creeping in, eventually affecting mining. Ethereum miners find block discovery difficult. Several miners have wound up their operations, waiting for favorable conditions for services.
With mining getting difficult, ETH prices falling is discouraging. The ETH price went down from $200 to $131.31. Smaller recoveries do not help save significant sliding trend. Optimistically, exchanges are managing to run the upgrade and will eventually sync with the right version of the protocol. However, the ETH team did not have sufficient governance from its developer team. Developers continue working on multiple upgrades to get to ETH 2.0 version.
Price-wise, ETH is expected to retest $130.00 much ahead of the hard fork. There will be increased pressure on Ethereum due to the unfortunate timing of the new hard fork. ETH/USD reverses the best part of the weekend gains. The timing of the fork activation, according to industry experts, is terrible. ETH team is patching up issues.
Investors eagerly await the most significant and most important events set to unfold in 2020 apart from the upgrade. Tweets are building up about the upgrade. ETH Investors Watching 2020 unfold with an upgrade.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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