Ethereum Hard Fork to happen around mid-January

The Ethereum Core Developers have announced that the Constantinople Hard Fork will occur around mid-January, 2019, during their 51st open meeting.

The hard block is announced to be at 7,080,000.

The delay to the Fork was due to a “consensus issue” that happened while upgrading the trial on Ropsten testnet in October 2018.

According to Etherscan, with the current block time of around 14.3 seconds and with around 231,500 blocks left, the launch date can be estimated at January 14, 2019.

A recent tweet by Péter Szilágyi:

Constantinople hard fork will encompass five separate EIPs or Ethereum Improvement Proposals. This is done to ease the transition from a Proof-of-Work (PoW) to Proof-of-Stake (PoS) algorithm. This will make the network faster and easier to use.

After activation, the Ethereum blockchain will fundamentally change with all the synchronous nodes updates to the entire system.

About Ethereum:

Ethereum is an open-ended, decentralized, distributed ledger based on blockchain technology. Unlike Bitcoin, Ethereum works differently. It runs on a smart contract based protocol, thereby eliminating the chance of censorship, fraud or third-party interference of any kind.

Read more on Ethereum: Can Ethereum Smart Contracts make Trading more Efficient?

In recent news, however, Ethereum has suffered a massive fall of more than 50% in the last month during the Crypto Market Crash. This further led to the Crypto falling from its long-standing 2nd position to 3rd in terms of Market Cap.

Will the Constantinople Hard Fork solve the current crisis faced by the smart-contract based cryptocurrency? Let us know in the comments section below.

 


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