New Ethereum Istanbul Upgrade Expected to Affect Nearly 700 Aragon Smart Contracts

Blockchains are very complex systems, so their updates are often tricky. The new upgrade set to be a part of the Ethereum network, Istanbul, will fix several issues of the network, but it seems that it might end up breaking some things that were working, too.

Aragon, a governance platform, will have around 680 smart contracts broken by the upcoming update. According to the company’s CTO Jorge Izquierdo, these contracts were used to manage decentralized governance apps on the ETH blockchain.

He believes that several developers will be forced to upgrade their smart contracts if they want to continue to use them because they will be incompatible with the newest version of the software. Izquierdo also affirmed that before now, DAOs using the Aragon system could ETH from each other, but that this will no longer be possible.

John Light, the lead of Aragon One, affirmed that he understands why the community has chosen to go this route. The network had several issues that had to be fixed and he deemed as an “unfortunate tradeoff”.

The code that mainly affects the Aragon network is the Ethereum Improvement Proposal (EIP) 1884. This new code was meant to address the downsides of the Ethereum exchange’s growth. As the network increased a lot recently, the computational costs also increased. Gas prices, however, remained the same. This created an imbalance that harmed the network.

Now, the developers will need to address this issue by updating their contracts. This is far from the first time that an upgrade broke something else in the network, however, so the affected participants are likely to recover soon.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide