Ethereum – A Blockchain Split Looks Likely To Be Imminent
Troubles Lie Ahead
After reports earlier in the week regarding the War on Miners, it seems ever increasingly likely that there could well be a Blockchain split on the horizon for Ethereum. Following a high-level developmental meeting last week, it has since been announced that a code proposal has caused a huge disagreement with the two sides of opinion on EIP 999. The proposal has been designed to outline how $264 million in lost funds is retrieved by fixing the code in the software. This is where the problem lies, as some developers would rather not support the code fix suggestion.
At the moment, there really is a strong divide in the Ethereum camp. Those that are positive towards the proposal are highlighting the fact that there have been many losses of ether through code features that need to be fixed. This would be the ideal time to do this. Quite rightly so when code should not causing the company financial losses in the first place. The other side of the coin sees developers worrying about whether the changes to the code suggested will actually expose Ethereum. The company could lose respect and indeed could be permanently damaged by the lack of agreement on the proposal.
The users of Ethereum are also in the same headlock. Most of the clients do not want the code change to take place.
Backers Get Involved
The disagreements also go deeper with two of its backers at loggerheads over the proposal. Parity – who are very much in favor of changing the code – are the company that provides the wallet for Ethereum. The software company is number two in popularity and over 30% of the network uses it. They have been desperately trying to convince clients to back the new proposal.
On the other side, Geth – the software company that provides the software to most of the Ethereum users is very much of the opinion that going forward with this proposal will only enforce the split. The company cannot see a way that all parties will come to an agreement. This is the worst possible outcome for the company when you consider how imperative it is for both companies to agree and stay with the same code. Both Parity and Geth use different programming languages to communicate with Ethereum so that both software programmes ultimately remain on the same page and talk to Ethereum easily.
As it stands right now, no decision has been made on whether the proposal will be implemented or not. There are so many parties and options to consider. There is also the worry that the impact will be a whole lot wider than just merely the transactions. There are huge amounts of businesses that have been developed and thousands of tokens too. There will also be double the amount of contracts because they will be replicated on each side. One final consideration is that if the split does occur then there will clearly be financial implications i.e. in the value of Ethereum.
An announcement is expected over the coming days.
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