It is neither in Israel's nor in Hamas' interest to start a new war. The latter now has the means to strike Tel Aviv, and Netanyahu would struggle to survive politically if the heart of the Jewish state were badly hit. As for Hamas, it is already in dire straits. Gaza has been subjected to an Israeli blockade for seven years, and Abdel Fattah al-Sisi's Egypt tightened the grip further by destroying the hundreds of smuggling tunnels that were the economical lifeline for the 1.7 million Gazans.
Once Palestine joins the ICC, the court's jurisdiction will provide coverage against human rights violations in the Palestinian territories, regardless of whether the source of such violations is Israel or the PA itself. In other words, this will establish a foundation for the prevalence of the rule of law in the Palestinian territories.
Israeli-Palestinian negotiations that have been in the works for nearly two decades are back to square one. There are many reasons for the failure of the negotiations, but one of the key reasons is that Israel has moved the goalposts. In the past negotiations between the two sides, the most important demand of Israel was for the Palestinians to recognize Israel's right to exist. But the hardline government of Benjamin Netanyahu is now demanding that the Palestinians must recognize Israel as a Jewish state.