The blockchain based platform known as Ethereum recently had an upgrade applied to it that became part of the fork for ethereum. The upgrade is part of the new Ethereum Improvement Protocols or EIPs which have the hopes of improving the Ethereum platform altogether.
This is a successful launch of the first phase of several large-scale upgrades that are planned to be applied to the platform. The second upgrade has not yet been scheduled but some estimate that it will happen sometime towards the middle of 2018.
The upgrade changed several aspects about the platform. One of the main changes is the fact that it decreased the reward for miners as they mine the coin, creating new blocks in a cheaper and faster way. This will help to ensure that applications can be quicker and more readily built upon the platform.
Due to the fork that was applied to the currency, it is not likely that a new cryptocurrency will be formed out of it like what happened with Bitcoin. Despite what some think, most people are quite satisfied with the upgrade, with only a slight amount of pushback from the public.
The upgrade went incredibly well and was applied in a smooth manor. This shows that the platform has the ability to adapt to new changes, which helped to increase investor confidence. The boost in confidence for the investors also helped to raise the price of the coin as a whole.
Cryptocurrency has become increasingly popular as more and more people become comfortable with the idea of a decentralized currency. A lot of the public has become fed up with government reign on currency and has begun to make the switch into the digital currency world. Hopefully, upgrades like this can continue to shape the world economy, and help to transition the public to using digital currency in their everyday lives.