Bugs on the testnet platform delayed the Ethereum’s Constantinople hard fork, while after developers decided to make it happen early next year, amid expectations of an increase in the Ethereum’s price after it takes place.
year, amid expectations of an increase in the Ethereum’s price after it takes place.
November 14, 2018 AtoZ Markets
After Bitcoin Cash, Ethereum could see its Constantinople hard fork taking place early on January 16, 2019. The Constantinople upgrade was supposed to have occurred at an earlier time this year, but developers delayed it for bugs they found on the testnet platform.
However, after further testing and development, the developers suggested a new timeline for the upgrade, in their recent meeting.
As per Github, the meeting suggested 2 dates for the fork, either January 12 or January 16, without confirming either of them yet.
In his turn, Péter Szilágyi, a core developer at Ethereum, said: “We can just say mid-January, it doesn’t make a difference if we decide on a date or not. We can always postpone.”
The developers noted that they might extend the date of the hard fork occurrence, should problems arise.
Ethereum’s Constantinople hard fork is not like Bitcoin Cash’s one
Lane Rettig, independent core developer, explained in the meeting in his turn that his research was depended on various aspects of Ethereum’s difficulty bomb.
According to him, block times will begin to increase in January, and the difficulty bomb might reach 30-second block times in May 2019, referring to that 30-second block times could happen in April 2019, if the hash-power declines by 20-25%.
“difficulty bomb” is an algorithm in Ethereum’s main code that increases the difficulty of mining blocks on the Ethereum network, making mining steadily more difficult over time and is intended to encourage network upgrades on regular basis.
“Constantinople” is a backward-incompatible upgrade, that urges the Ethereum blockchain to have a hard fork.
The upgrade will reportedly result in 5 different Ethereum improvement proposals (EIPs), each of the five includes changes to Ethereum’s code that induce better processing times for developers, fairer pricing structures, important scaling solutions, in addition to changes to Ethereum’s economic policy, as per the developers’ meeting.
Market analysts expect the Constantinople to cause price inflation in the Ethereum market upon its occurrence next January as initially estimated.