Home Uncategorized Ethereum Development Team to Hard Fork, Planned For Mid-January

Ethereum Development Team to Hard Fork, Planned For Mid-January

107
0

Ethereum (ETH) core developers have agreed to launch the long-awaited Constantinople. 

The Ethereum core development team have reached an agreement to activate the Constantinople hard fork on block 7,080,000. If everything goes according to plan, Constantinople will go live between January 14 and 18 of 2019.

Originally set to deploy in November, is a backward-incompatible network upgrade that has five Ethereum improvement proposals (EIPs). The Fork was delayed due to a failure on the Testnet.

Surrounding the failure and subsequent delay, Ethereums price continued to tumble from an all-time high of around $1400 to its current price floating around $100.

Ethereum is destined to hard fork every so often due to the so-called “difficulty bomb” which slows down blocks and, if left unremedied, will lead to a point where no more blocks can be mined; thus this upgrade is integral to the smooth running of the network.

The upcoming Constantinople hard fork includes five separate Ethereum Improvement Proposals (EIPs) in order to soften the transition from proof-of-work (PoW) to more energy efficient proof-of-stake (PoS) consensus algorithm.

Developers have chosen block 7,080,000 for deployment, Ethereum is currently at block 6,86,1035 Meaning that Constantinople could be deployed around the 14th January 2019.

RELATED:  Binance Over The Counter (OTC) Trading Desk goes live