Ethereum (ETH) Constantinople Update To Deploy On The Blockchain On October 9th
The Ethereum (ETH) developers community met and reached an agreement to apply the Constantinople hard fork to the Ethereum Ropsten TestNet from block 4.200.000. The objective of implementing this update in a test network is to minimize the possible risks associated with this type of forks. The agreement was total, and the proposal was accepted without inconvenience. Thus, the tentative date of application of the hard fork would be October 9th, taking into account the current block generation speed. The fork will also be made in Kovan, from block 9.200.000.
Jameson Hudson moderated the meeting, and the co-creator of Ethereum (ETH), Vitalik Buterin, participated, although he did not offer more information.
Let’s remember that EIP 1013, Constantinople, created on April 20th, 2017, by Nick Savers, will allow for the transition of the Ethereum network consensus from Proof of Work to Proof of Participation. The beginning of Constantinople marks the end of the first phase of Metropolis, a planned hard fork for the development of the network.
This update will help the network to solve its scalability problems, according to its own developers, lowering the commissions for the transactions made in it by increasing the efficiency of the blockchain.
About Ethereum (ETH): Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middleman or counterparty risk.The project was bootstrapped via an ether presale in August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss non-profit, with contributions from great minds across the globe.
Ethereum (ETH) is the 2nd largest cryptocurrency by market cap size. It is down 1.88% over the past 24 hours and is currently trading at $225.93. It can be bought with fiat dollars, credit cards, or debit cards on cryptocurrency exchanges such as Coinbase, CEX.io, and Changelly.
