Ethereum core developers set a target date for Istanbul hard fork

Phase one of the Istanbul upgrade is set to activate on the Ethereum ($ETH) mainnet the week of Dec. 4 (block number 9,056,000), seven weeks after its initially scheduled launch. The first Istanbul hard fork is expected to introduce six new code changes, five of which reduce gas costs for specific opcodes or add new operations, while EIP-1884 aims to increase computational costs for data recalls. A back-up date is set for the week of Jan. 8 in case any complex deployment issues or last-minute bugs arise between now and the first week of December. The second phase of Istanbul is anticipated to launch on mainnet sometime in Q1 2020.

Why it matters:

• Istanbul marks the next step in Ethereum’s transition to a scalable, Proof-of-Stake (PoS) network. Each Ethereum development milestone is a monumental hurdle because there is no precedent for this type of work. Ethereum core devs are paving a new path. Therefore, a precise launch date is a compelling sign development is heading in the right direction.
• EIP-1884 is slightly controversial: The proposal increases the costs of retrieving on-chain data for applications, an unwelcoming addition for developers. However, an increase in fees enhances miner income, thus incentivizing greater miner participation. Until the transition to PoS is complete, Ethereum needs to keep miners engaged in maintaining its current level of network security.