Istanbul hardfork is being prepared on the Ethereum network, a sensational statement by the head of the SEC. The mining company Canaan Creative was able to attract funding.
The next update of the Ethereum blockchain can switch it to the ProgPoW protocol. This became known before the next meeting of network developers. Now all respondents declare their desire to support the inclusion of the EIP 1057 code in the next hardfork.
The final decision will be announced after the audit. If it does not show the presence of critical vulnerabilities, the developers will approve the innovation. At the same time, it is reported that they may do otherwise. Since EIP 1057 is present as a separate independent element, it will be possible to cancel it immediately before launching the hardforks, which has already been called Istanbul.
The main problem of the new Ethereum hardfork
During the discussion, SEC Chairman Jay Clayton made an almost sensational statement. He said that digital financial assets may change their identity over time. That is, Ethereum and its similar cryptocurrencies were formerly "securities." And now there is a possibility that they have ceased to be.
This is somewhat contrary to the basic approach of the United States in the regulation of cryptocurrency. States recognize their property, with appropriate regulations. If Bitcoins and Ethereum will fall into the category of "cash", then the rules of their turnover will change dramatically. The words of SEC Chairman are not premature conclusions. However, the very fact that this topic was raised is interesting.
The next stage of raising funds allowed Canaan Creative to achieve a capitalization of $ 1 billion. This company is engaged in the production of mining equipment, which makes the news truly sensational. The fact is that right now the industry is going through difficult times.
Major competitors claim a reduction in personnel and a drop in production. And Canaan Creative is expanding and finding the means to increase capitalization. It had previously attempted to obtain permission for an ICO, but the Hong Kong Stock Exchange refused to do so. But the company still found ways to attract several hundred million dollars.