cryptonewsz.com
Taking pride as one of the leading blockchain channels and the second-largest cryptocurrency, Ethereum has successfully launched the highly-anticipated Berlin hard fork at block 12,244,000 on Thursday as its latest network upgrade event. The development involves four Ethereum Improvement Proposals (EIPs) that will reduce the gas cost and facilitate new transactions on the channel. The upgrade will help Ethereum to revolutionize its core ecosystem to cater to user requirements with ease.
The Hard Fork derives its name from Germany’s capital city, which hosted the first Ethereum DevCon. It was earlier slated for June or July 2020 but was shifted due to some issues. The event is a small step towards the network’s grand London hard fork that will trigger the fee changer module, EIP 1559, for ETH users. The old users will not be compatible with the new users post the upgrade and shall be a significant shift from Ethereum’s PoW mechanism to the PoS channel. The upgrade will run on Ethereum 2.0 Beacon Chain that manages ETH worth $8 Billion of the users.
The four main EIPs of the upgrade are:
- EIP-2565: It will bring down the gas cost for an exclusive transaction based on modular exponentiation.
- EIP-2718: This will transform all transactions into “backwards compatible” via “envelope transactions,” which allows the inclusion of a new transaction system.
- EIP-2929: It surges the gas expense for “op code” transactions.
- EIP-2930: This is a new type of transaction that facilitates customers to design templates for complex transactions in the future to enjoy lower gas expense.
Consensus Error After Berlin Hard Fork
The Open Ethereum client faced a consensus issue and restrained the block production soon after the Berlin hard fork launch. The flaw was resolved by the team within few hours. The users whose nodes were clocked out by the bug flooded the comments section of the GitHub page. The Open Ethereum version manages 12% of nodes on Ethereum. The bug affected Etherscan and BitGo too. The report clarified that the bug did not hamper the nodes on the Go Ethereum client.
Coinbase STOPS ETH withdrawals
Leading cryptocurrency exchange Coinbase stopped ETH and ERC-20 withdrawals because of the Berlin hard fork upgrade bug issue.
Due to an issue with the recent network upgrade, we've temporarily disabled ETH and ERC20 withdrawals from Coinbase and Coinbase Pro. Receives of these assets may also be delayed. We're working on a fix, and we'll send an update as soon as we have one. https://t.co/pWGFAd9Aqb
— Coinbase Support (@CoinbaseSupport) April 15, 2021
The exchange’s Twitter alert “Ethereum Berlin Network Upgrade” stated that ETH and ERC-20 withdrawal services have been paused from Coinbase and Coinbase Pro. In a short span, the services were started again on the platform for the customers.