Ethereum Hard Fork on December 4, 2019

Ethereum is the second largest cryptocurrency next to bitcoin by Market cap.

As of now Ethereum has a Proof of Work (PoW) consensus model, where miners spend computation power and Electricity to validate the transactions in the network for which the miners get rewarded.

After the upcoming Istanbul Hard Fork Ethereum is said to switch to Proof of Stake (PoS), where instead of miners, the validation process is done by the users who hold and stake Ethereum.

Here the users who stake Ethereum are considered as Validators and they are rewarded based on the amount of Ethereum they stake.

This Istanbul Hardfork is said to launch on December 4 of 2019 according to Ethereum Team's Lead developer.

Ethereum Twitter Handle has also confirmed it.

Apart from the Proof of Stake transition the Istanbul Hardfork is also coming various other upgrades to the network.

So once this is officially confirmed, The Price of Ethereum may soar up.

Have an eye on the price.

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