Major United States cryptocurrency exchanges Coinbase and Kraken became the latest to confirm support for Ethereum’s (ETH) Constantinople hard fork, both announcing on Twitter, Jan. 14.
Kraken will be supporting this. We expect this will be a non-contentious fork. No new coins will be credited to ETH holders as we expect the old chain will quickly become obsolete.
— Kraken Support (@krakensupport) January 14, 2019
Coinbase intends to support the upcoming Constantinople Ethereum (ETH) network upgrade. Please see our support article for more information: https://t.co/BdWibitiGj
— Coinbase (@coinbase) January 14, 2019
The two major exchanges join Binance, Huobi, and OKEx in pledging to monitor the event, which will trigger at Ethereum block height 7,080,000, expected this week.
As we know, Constantinople marks a milestone for the Ethereum network, developers of which plan to migrate it from a proof-of-work (PoW) to a proof-of-stake (PoS) algorithm. The hard fork is one step on the way to the network’s full transformation and encompasses a variety of technical improvements.
Coinbase team intends to fully support the Constantinople Ethereum (ETH) upgrade and wrote in their blog post, stating:
“Upon commencement of the upgrade, for security and technical purposes, we will temporarily pause sending and receiving ETH across all of our trading platforms until the upgrade completes and we confirm the security of the network.”
US-based cryptocurrency exchange Kraken, on the other hand, wrote on Twitter that
“Kraken will be supporting this, moreover, No new coins will be credited to ETH holders as we expect the old chain will quickly become obsolete.”
By this, Ethereum (ETH) recovers slightly as Coinbase and Kraken announce support for Constantinople upgrade and trading at $128.80 following the above-mentioned recovery. However, the trend is strongly bearish.
Image Courtesy: CryptoGlobe.com
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