Activation Code for the Long Anticipated Ethereum (ETH) Constantinople Upgrade is Released
Constantinople is most certainly one of the most anticipated upgrades to the Ethereum network since it was first announced, given the fact that this hard fork should provide a suitable ecosystem for the upcoming transition from the currently used Proof of Work protocol to Proof of Stake that should make the network more efficient.
Vitalik Buterin, the first man of Ethereum, previously stated in the series of posts on Twitter regarding blockchain use case in general that the blockchain platform of future should use Proof of Stake and Sharding, so the team behind Ethereum is moving in that direction.
Even though Constantinople upgrade was previously rescheduled for January 2019 due to some reported issues that appeared on the Ropsten test net back in October, the upgrade preparations are moving forward with the latest release.
Scheduled for December 7th then rescheduled for January 2019, hard fork should have taken place at block 7,080,000 on Ethereum network, while the new code for the long-awaited software client became available on Github several, days ago on December 11th.
Proof of Stake Transition to Provide Fundamental Changes for Ethereum Network
Constantinople upgrade actually represents five different EIPs, Ethereum Improvement Proposals, that should allow a smooth implementation of the more efficient protocol that Proof of Stake represents in oppose to the currently used Proof of Work.
The transition to the Proof of Stake protocol will thus bring fundamental changes to Ethereum, preventing backward compatibility where all future updates will dictate that all nodes must synchronize at the same time otherwise resulting in a separate entity.
Besides stressing out the importance of having the network updates to Proof of Stake and adding Sharding protocol, for the increased scalability, Vitalik Buterin also added that the cost of the transaction will significantly reduce as a consequence.
The network should also become more efficient in terms of energy consumption, while Sharding should be the next huge update to the network, announced to arrive in 2020.
In the meanwhile, Buterin was most recently awarded an honorary doctorate from the University of Basel, which is at the same time one of the oldest universities in Switzerland.
Buterin received the doctorate for exceptional contributions in the sector of smart contracts, the design of institutions, and cryptocurrencies.
Constantinople Hard Fork to Take Place in mid-January 2019
Based on the block time information available on Etherescan.io, as well as the announcement provided by the dev team where the update is being rescheduled for the beginning of 2019, the Constantinople update is most likely to take place on January 14th, 2019.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]