So happy New Year everybody!
We begin with the year with the Ethereum hard fork.
It’s called Muir Glacier and it will take place block number 9,200,000 on January 1, 2020.
The upgrade comes just not long after the Istanbul hard fork which was released last month.
Istanbul brought various upgrades and features but has it has become apart that there are issues that still need to be sorted out.
It will be the new fork’s goal to solve a problem called the “difficulty bomb“ or the “ice age“.
After 100,000 blocks are mined, the network becomes more difficult to operate, thus leading to slower block times.
Sometimes the entire network ends up coming to a halt.
Ethereum developers have named this problem as the “difficulty bomb.”
Muir Glacier aims to push the difficulty bomb further back by the creation of an additional 4 million blocks, thereby giving developers more time (1.7 years) to fix the problem properly.
Ether has been on a downtrend for the last month or two but picked up this week and the time of writing it is valued at $130.
The week ahead is critical to know whether Eth springs back up and makes a higher low or if it plunged downwards towards the $100 dollar mark or beyond.