Ethereum: Prepping for the Soft Fork

By June 26, 2016Bitcoin Business

The Ethereum community seems to be embracing a soft fork implemented to the networks open blockchain. Most pools look to be voting in favor of the proposed soft fork that will eliminate the recent DAO attackers chances of using the funds.

So far according to Etherchain.org pools who have implemented the soft fork include DwarfPool (1264GH/S), Ethermine (448GH/S), bw.com (229GH/S), Nanopool (203GH/S), miningpoolhub (96GH/S). Five other pools are unconfirmed at the time of this writing such as f2pool (668GH/Z), ethpool (309GH/Z), Coinotron (272GH/S), bitclubpool (227GH/S), and Coinmine.pl (80GH/S). The soft fork has been somewhat controversial as it is a targeted fork aimed to fix the current DAO debacle . The concept is explained here in the Slock.it blog which states: “The idea is that all transactions that would result in a value transfer from any DAO would be deemed invalid and not accepted by miners. The targeted part is due to two exceptions: The most important one being the Curator multisig and the other being a siphoning contract. It’s the same contract that was used in the white hat actions. The exception of the siphoning contract is not needed, but it does not hurt to have it as a safety precaution and to require less ETH for Dark DAO recovery actions.” Ethpool voting seems to have conceded with a majority favoring the soft fork. The Geth DAO Wars soft fork release is available for view on Github. The addition defines the fork and what it aims to do with the DAO situation. Miners can choose not to update and operate the way they normally do but if the majority votes in favor of the update the Github request states, “non-updating miners will either fork off their own Ethereum network , diverging from the majority, or will forfeit any blocks […]

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