December 13, 2018 AtoZ Markets – The work on the Ethereum ETH Constantinople upgrade is continuing apparently, where a software client of the aforementioned platform has published an updated code, containing an activation time on GitHub.
The post published on Dec. 11, informs that “Geth”, which refers to “go Ethereum” v1.8.20, allows the Constantinople hard fork on the Ethereum mainnet at block 7,080,000, and is identified as one of the three original procedures the Ethereum protocol implements.
“It’s also our last planned release of the 1.8 family, meaning that we’ll start merging backwards incompatible changes onto master in preparation of Geth 1.9.0.”, read the post as well.
According to the agreement the head developers held on Dec. 7, that Constantinople hard fork at block 7,080,000.
The fork contains five separate Ethereum Improvement Proposals (EIPs) to alleviate the transition from proof-of-work (PoW) to the more energy-efficient proof-of-stake (PoS) consensus algorithm.
The new upgrade is said to have a potential improvement
PoS is said to fundamentally change the Ethereum blockchain as for the upcoming new upgrades, as it is supposed to have been built to prevent any backward compatibility, meaning that nodes must either update synchronically with the entire system or carry on running as a separate blockchain entity.
It was decided before to delay the Constantinople hard fork for late January 2019 due to a consensus issue, which showed up in the upgrade trial on the Ropsten testnet in October.
In his turn, Ethereum co-founder Vitalik Buterin declared recently that future blockchains with sharding based on PoS will be “thousands of times more efficient.”
Relying on the advances of scalability and the improvement of user experience, non-financial applications will become “a bigger part of the story.”
Buterin referred to that blockchains are not about “cutting computational costs,” but are instead about increasing computational costs while decreasing “social costs.”