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The method for detecting a failed transaction after Byzantium is explained in more detail here.
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A couple projects worth noting are those that intend to introduce new variations of ethereum, for example Etherite, which wants to create a version of Byzantium that does not lower the mining reward.
If the movement gains support, this could put pressure on exchanges, which have shown a recent willingness to support assets running on so-called "minority" blockchains as a way to offer new alternatives for speculators.
Similarly, java-based Ethereum J and java script Ethereum JS released an upgrade earlier today.
Those familiar with ethereum's roadmap likely know the protocol has long planned to phase out its proof-of-work consensus mechanism for a more experimental, and they argue, more egalitarian alternative called proof-of-stake.
To date, the platform has conducted four hard forks, with only one resulting in the creation of an alternative blockchain, ethereum classic.
Given the changes in Byzantium have been outlined in the ethereum roadmap as far back as 2015, it's unlikely it will prove problematic.