Homestead Release: Importance and Updates

There are only four days left until the announced homestead release. As BTC-Echo already reported on 29 February 2016, the so-called Pi-Day (Pi = 3.14 and thus represents the American date spelling for this day) will be the next big development phase of the Ethereum protocol.

Which phases will follow the Bitcoin secret?

The new vertical takeoff among the crypto currencies is gradually gaining greater media interest. For many, it has been completely unrecognized in the last two months by the longer known Bitcoin secret currencies such as Litecoin or Ripplecoin. Today, BTC-Echo offered an analysis of the status and development of the Ethereum Prize in calendar week 10.

So far there has hardly been a “habituation period” for observers and those involved in crypto currencies, only insiders and enthusiasts have followed the Ethereum development for a long time, but such an intensive development was not expected from them either. Recently the technology giant Microsoft is interested in the service and supports it by implementing it in its own services.

All existing clients should be updated for the transition from the Frontier to the Homestead phase. The following two links provide the latest version of the local Ethereum Wallet “Mist Browser” and the currently most stable Miner “Aleth One”:

Ethereum Wallet

Linux 32-bit
Linux 64-bit
Mac OS-X
Windows 64-bit
Aleth One Miner

Windows installer
OS X Yosemite (10.10)
Instructions for the installation on Ubuntu can be found here
Attention: The clients should be updated before the 14.03. Clients that still have an old version might not be usable anymore.

Increased interest in cryptosoft

Google is also registering a growing interest of its users in cryptosoft. This Google trend shows an explosive growth of search queries for the term “cryptosoft” over time. Distribution of search queries on the term “Ethereum” over time. Source: Distribution of search queries for the term “Ethereum” over time. The top countries behind the search queries are sorted as shown in the following picture.

Why the Homestead release is so important
There are many good ideas, the difficulty lies in their implementation. Vitalik Buterin’s Ethereum promised a lot right from the start, from Smart Contracts (see Slock.IT interview by BTC-Echo) to Decentralised Autonomous Organisations (DAO) and the first Internet as originally planned: without censorship, without downtime and a decentralised structure.

As previously reported, the crossed out “safe” was removed from the website, meaning that the project has overcome the first hurdles, the Frontier network is shut down and the transition to the Homestead network begins. The alarming warning that Ethereum is at an experimental stage with major risks is shut down. While the homestead release is still seen as a beta stage, the question of “whether” something is working is more fundamental than the “how” that is now gradually being implemented.

If one imagines all phases as a construction project, the “construction” of the Ethereum network begins with the development, levelling and concreting of the property (Frontier). With the transition to the homestead phase, the house is built, the connections are made and all important precautions for the future are taken. This is often referred to as changes to make future upgrades easier.

Metropolis will appear next to Homestead. Metropolis will provide a full-featured interface for less technically savvy users and will include network support services such as a DApp Store.

With Serenity there will be a change in the calculations of the network. Ethereum’s team fears that the resource-guzzling proof-of-work will have to be converted to proof-of-stake, as much of the computing power will be transformed into heat.

But this step is not expected until 2017, the transition to the “secure functioning of the network”, the homestead, will be on 14.03 (Pi Day). BTC-Echo will report.