Ethereum successfully completed hard fork, market value returned to $1 billion

On the evening of July 20th, Beijing time, the much-anticipated Ethereum blockchain hard fork was successfully implemented. Although there were many controversies surrounding this hard fork, the market response was positive. As of press time, the market value of Ethereum rose by about 10%, once again breaking through $1 billion.

Chinese Ethereum mining pool BW.com has successfully mined Ethereum block 192,000, and seconds later, the pool also mined the first block of the new blockchain.

This also marks that about $40 million worth of Ether held by unknown hackers has been moved to a new address (0xbf4ed7b27f1d666546e30d74d50d173d20bca754), and many members of the Ethereum community are celebrating this event. However, the completion of this action also marks that the history of the blockchain, which is immutable, can also be changed, and its impact remains to be seen.

“During this time, I’ve seen a lot of feedback and support from many different parties,” Christoph Jentzsch, co-founder of ethereum startup Slock.it and author of the DAO code, wrote in a blog post. “There’s a lot of work to be done, and a lot of help from many people.”

A hard fork of the Ethereum blockchain moved the funds tied to The DAO to a new smart contract, which was intended to allow original DAO token owners to withdraw their funds. According to the rules, their withdrawal rate was 100 DAO tokens: 1 ETH.

As of press time, the Ethereum long chain has produced block 1920410, while the short chain is still at block 1920048.