Aragon Forecasts Ethereum’s Istanbul Hard Fork to Exceed 680 Smart Contracts October 1, 2019 October 1, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Ethereum NewsOctober 1, 2019 by Kelly Cromley

Aragon Forecasts Ethereum’s Istanbul Hard Fork to Exceed 680 Smart Contracts

Aragon, the decentralized administration platform, may see well over 680 smart contracts with the implementation of Istanbul hard fork on Ethereum network.

In this regard, Jorge Izquierdo, CTO at Aragon One, stated that the forthcoming upgrade will ensure crossing about 680 smart contracts.

Izquierdo elaborated that the motive behind the upgrade is to additionally guarantee frictionless operation of decentralized autonomous organizations (DAOs) created on the Aragon platform and respond to smart contracts which are affected.

Izquierdo pointed out that DAOs will not be able to obtain Ether (ETH) from each other and further stated that “the issue we’re going to have hasn’t been deemed important enough for this hard fork not to happen, which from our point of view is unfortunate [but] it’s a hard balance we understand.”

Ethereum’s network-wide initiation of the Istanbul hard fork happened earlier and resulted in division of the Ropsten testnet. The community manager of the Ethereum Foundation, Hudson Jameson, tweeted that there are miners who are still dependent on the old Ropsten testnet, while others have already shifted to the new version for mining.

Wei Tang, a core developer at Parity, a blockchain framework company that operates the core of the Ethereum network, earlier mentioned worries related to gas issues, alerting that it would be better to solve the problem before employing a hard fork.

As per Wei, it’s likeable to resolve the gas related problems before unveiling a mainnet hard fork as it will be further problematic to modify path once the fork has taken place. This may cause additional delays in mainnet’s launch.

Last month, Ethereum co-founder Vitalik Buterin stated that the Ethereum blockchain was nearly jam packed and scalability is still a big issue. To sort out the problem, Buterin stated that network should move out of the concept that every computer must verify all the transactions and start confirming only a small percentage of the transactions on the blockchain.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.