Another Ethereum Blockchain Hard Fork on Horizon as EIP-999 is Inevitable
…has been debunked by Vitalik and many blockchain community members since. To begin, look at the flare it has caused CoinDesk's Consensus event and Buterin's boycott callout.
2. Their coverage of EIP 999 was terrible. They published a highly sensationalist article claiming the chain would split, when it was very clear that EIP 999 was *very far* from acceptance.
This is why pundits need to be replaced by prediction markets, ASAP. pic.twitter.com/6A7OWlx0nR
— vitalik.eth (@VitalikButerin) April 26, 2018
Many of you might still remember when Bitcoin and Bitcoin Cash were separated last year. Something similar might happen to the Ethereum blockchain this year. Not unlike when Ethereum and Ethereum Classic split, a new code protocol called EIP-999 is causing controversy in the crypto community lately.
Sources have recently said a meeting between the top Ethereum developers happened last week in which they discussed proposals concerning a code called EIP-999 that could cause an Ethereum hard fork in the future.
EIP-999 Can Split The Ethereum Blockchain
EIP-999 is a technical fix that was created to solve a problem that could return about $264 million USD in ETH to its owners. This money was lost due to a bug and this protocol could solve the issue and return the money.
Unfortunately, many developers think that editing the code of the blockchain might open security breaches and lead to a damaged security of the platform, so they are against it. Ethereum’s Mist browser’s developer Alex Van de Sande states that if the code is really implemented, it will inevitably lead to a hard fork.
The issue is complex, as it involves millions of dollars and possible security flaws that could cause even further problems.
The Ethereum Hard Fork Decision Is On Parity And Geth’s Hands
Some of the central debate happens around Parity Technologies, created by Gavin Wood (Ethereum co-founder) and Geth, Ethereum leading software. While Parity seems to be in favor of the EIP-999, Geth is against it.
If these two companies decide to take separate sides on this issue, it could be more certain that the hard fork will happen. The decision will be made by Parity in the next few days whether to wait and debate some more or to implement the code.
If you browse cryptocurrency forums, you can easily see that people are very emotional about the whole issue. It is not hard to find people who would feel betrayed if EIP-999 was implemented, like this post, for instance:
You also have threads on Reddit like this one that claims the voting process can and was easily manipulated to swing votes in favor.
Only time will tell if EIP-999 will, in fact, be applied. If it does, however, it looks like a new Ethereum hard fork is underway and there are fears that this might make Ethereum’s value decrease.