The unintentional consequences of SPV mining: How did Ethereum fork contribute
As one of the pioneers of the decentralized internet, Ethereum was at the forefront of the digital revolution. However, like any complex technology, its development and maintenance were not without their challenges. One of these challenges was the infamous hard fork that happened in 2016, which was meant by the introduction of the SPV mining (Sub-Pairwise Verifier).
What is SPV mining?
SPV Mining is a method of checking the Ethereum network using a technique called “Proof of Role” (POS). Instead of relying only on consensitive algorithm consensus for energy intensive (POW), which requires significant computer energy and energy consumption, the SPV mining uses a different approach. Using an algorithm of the digital signature of the elliptical curve (ECDSA), also known as Bitcoin -O’s secret key format, miners can confirm transactions without the need for huge amounts of computer power.
The main advantage of SPV mining is that it allows for a more effective and decentralized network validation, which in turn allows for the transaction processing faster. This approach also facilitates the scaling of the network with energy efficiency maintenance.
BIP66: Critical component in a hard fork
In order to understand how Bip66 (Branch 1) was introduced and then led to the hard fork, we must dive into the history of the development of Ethereum.
In 2017, the Ethereum team decided to introduce a new branch entitled “Mainnet”, which would serve as the primary implementation of the protocol. However, they also wanted to preserve their existing base of the code for the purpose of compatibility. To achieve this, they created a separate branch called Bip66, which is designed to maintain compatibility with the original mainnet.
Bip66 was activated in January 2017 and introduced several key features that will eventually contribute to a hard fork. They include:
- Ethereum Classic (etc.) : etc. is a cryptocurrent currency that Ethereum has created as an alternative protocol implementation. It has retained many of the same rules and mechanisms as the original Ethereum network, but with some modifications.
- BIP66 BRIDGE : BIP66 bridge enabled no merits between the original Mainnet and ETC, allowing users to transfer between two implementation without any significant technical difficulties.
Hard fork: a consequence of SPV mining
In February 2017. The Ethereum team announced that it would activate a hard fork called “Ethereum Classic” (etc.). This decision was made in response to the increasing popularity of Bip66 and its consequences on compatibility with the backlog.
Introducing etc. As alternative implementation, Tim Ethereum hoped:
- Preservation of backward compatibility : maintaining both Mainnet and etc., they could maintain support for the older versions of the network, while allowing them to switch newer users.
- Avoid loss of user agents : A hard fork has ensured that users who have invested in the ether or holding ether can continue to use without significant losses.
However, this decision created an unintentional consequence: the activation of Bip66 led to the jaw in the Ethereum network. As more and more users were switched from Mainnet to, etc., the original implementation of the mainnet has become more unstable.
Consequences of SPV Mining
The introduction of BIP66 had significant consequences on the Ethereum ecosystem:
- Increased fragmentation : hard fork created an additional branch (etc.) that was incompatible with the mainnet and etc.
- Loss of energy efficiency : By introducing a new implementation, Ethereum’s energy consumption increased, making it less energy efficient than original war -based architecture.
