Ethereum blockchain is one of the most popular alternative digital currency networks and has had much quicker success in achieving mass recognition, even in the most remote parts of our beloved Earth than any other alternative coin. Now we are not trying to say that it has been legalized and regulated but rather how even small developing countries have heard about this marvelous invention despite its short lifespan. Developers scheduled Ethereum blockchain upgrade for the September of this year and have named it "Metropolis" which shall lay the foundation for even greater anonymity and Proof-of-Stake reward model for the miners.
What Upgrades Are In Store?
Future roadmap for the Ethereum blockchain upcoming upgrades was outlined earlier this year and the following code upgrade is right on point with the anticipated 6 months mark. It has been a long time coming but even the pessimists are happy with the prosperous news. One of the key reasons that have resulted in the blockchain's rapidly growing popularity is the anonymity and Metropolis is going to allow users to perform even higher-level anonymous transactions than it had available until then and that is thanks to the "zero-knowledge proofs". Greater security is not going to disrupt anyone's plans but the hackers and one of the following additions will allow users to determine wallets that they hold private keys for by masking them. This type of approach increases protection even against the quantum computer attacks. In order to make transitioning from the PoW or Proof-of-Work reward model to PoS or Proof-of-Stake one, a "Difficult- Bomb" will be implemented that will make mining much harder than it is right now. This is done in order to limit some of the supply coming into circulation.
Harder Mining Difficulty Effect On Price?
It is yet to be seen whether greater mining difficulty will affect the price, while anyone might guess that it could then in reality transition to proof-of-stake reward model might be seen as a huge favorable factor for the speculative money to drive in due to the new levels of scarcity. As we expect this upgrade to increase the overall users-base of the Ethereum blockchain then we should also see higher prices but only time will tell us what is going to happen!