Ethereum developers are planning to launch Ethereum hard fork Constantinople in the next month. The date is still not decided but everyone is eagerly waiting for the new hard fork with features like reward reduction and difficulty bomb. Hardfork will increase the efficiencies and lower the transaction fees. It is yet to see that how the Ethereum hard fork Constantinople will affect the price of Ethereum.
Constantinople is the second phase of the Ethereum project upgradation. The first phase is known as Byzantium which took place in the October of last year. The second phase of Ethereum upgradation is scheduled to be finished in the October this year. In a meeting, ETH developers said it is most likely that the upgradation will finish before October’s Devcon4 Ethereum conference. Till now Ethereum developers have implemented four Ethereum Improvement Proposals (EIPs). According to the lead developer of Geth and the most popular ETH client, Peter Szilagyi most of the changes are already implemented. The main reason behind implementing these software upgradations is to make the ETH network faster, more efficient, and less expensive. After the upgradation, the scalability of the Ethereum project will also increase. According to the ETH developers, they are “ushering in a new age of Blockchain technology”.
When a cryptocurrency hard forks some people continue to support or mine the old cryptocurrency or blockchain. That is what happened with Bitcoin, during the Bitcoin hard fork, the cryptocurrency splitted into two, Bitcoin and Bitcoin Cash. Still, people are supporting the Bitcoin, the same thing can happen with Ethereum. Because of the hardfork, the new cryptocurrency Ethereum Classic will be born. Most hard forks are positive and they are good for the investors.
In a meeting, core developers of Ethereum discussed the testing of EIPs for Constantinople hard fork. There was confusion that it is good to have so many changes in the one fork or fewer changes in many hard forks. According to the ETH developers if we delay the upgradation we would want more features to the hard fork Constantinople. But now it is confirmed that the Constantinople will go into testnet next month. It is expected that the four-stage development plan will activate on a cross-client testnet called Ropsten in the second week of October. The development plan can go live in November or it could be in the next year. According to Vitalik Buterin, “it is totally not urgent. We could probably have three months of safety and likely even more.”
The launch of Constantinople can be a bullish signal for the investors when the market is already experiencing the Bull Run.
Leave a Comment