The Ethereum Constantinople hard fork will occur near the block height of 7,080,000. Three major exchanges have announced they will support the hard fork for all their customers.
You may be a little bit late if you’re just finding out about the Ethereum hard fork that’s projected to happen on January 16, 2019. Ethereum hit a low of $82 about 2 weeks ago and has since doubled in value. This could be in direct correlation to the upcoming fork.
The Constantinople fork is aiming to improve Ethereums scalability issues, increase its efficiency and economic viability. Ethereum is a smart contract/Dapp protocol platform that has had many network issues in the past. Some of which have caused major transaction delays for users like you and me. The Ethereum developers continue to adapt and improve, as we saw last week a suite of new security token protocols was released. The Ether team is looking to navigate from a proof work consensus to a proof of stake, this was all due to Vitalik’s strong outcry about moving to a PoS ecosystem. This new fork will ease that process when the time comes to fully cross over.
Here’ is a statement from the Binance blog in response to the hard fork:
“Binance would like to confirm support for the upcoming Ethereum Constantinople Hard Fork. Please leave sufficient time for deposits to be processed in full prior to the block height shown below. We will handle all technical requirements involved for all users holding Ether in their Binance accounts.”
Houbi and OKEx have both advised their clients to deposit Ethereum onto the site, as they too will handle all the technical aspects needed for the fork. The block height that this hard fork will occur on is 7,080,000. No airdrops have been announced as this hard fork could just be to improve the technology behind Ethereum.
The big question here is, will this hard fork make the market take a nose dive in value similar to how the Bitcoin Cash double fork did?
Share your thoughts below.