Ethereum Hard Fork Supported by More Exchanges after Binance

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Ethereum Hard Fork Supported by More Exchanges after Binance

Ethereum has been preparing the upcoming hard fork called Constantinople several months before the announcement came out in October when the team behind ETH released the fork on Ropsten test net, however, the official release was rescheduled after encountering several issues.

Binance already announced their support at the very beginning of 2019 since the hard fork is set to take place between January 14th and January 18th once the block height reaches 7,080,000.

In the meanwhile, more cryptocurrencies shared announcement on officially providing support for Constantinople fork as the schedules release date is less than two weeks away.

Koinex, Huobi and OKEx Announce Support for Ethereum Constantinople Fork

Binance was the first exchange to support the hard fork, however, more exchanges are joining as Koinex, Huobi and OKEx confirmed support for ETH users as well.

According to OKEx, a snapshot of all accounts holding ETH will be taken once the block height is at 7,080,000, also advising that all users deposit their ETH units on their OKEx accounts before the fork takes place as the exchange will be administering all hard fork related technical requirements.

Huobi also announced in their press release for Cointelegraph that all users are advised to deposit their ETH units before the hard fork in order to avoid any technical issues that might take place during fork.

The latest fork won’t have a newly minted currency as a result like it was the case with the DAO faulty upgrade that led to the creation of Ethereum Classic (ETH) as a result.

Instead, the upcoming hard fork should bring fundamental changes to the network, also preparing the platform for transition from Proof of Work to a more efficient Proof of Stake, slowly leading towards Ethereum 2.0 that should arrive with a scalable network and increased transaction speed.

The ultimate goal of the anticipated upgrades and network updates is to enable up to 1 million transactions in a second, which would make Ethereum one of the fastest projects in the cryptocurrency market.

Koinex, which is an Indian-based cryptocurrency exchange announced their support for the fork as well, sharing similar information as other exchanges providing support, advising ETH users to stay tuned for more information.

Ideally, there will be more exchanges joining the list of cryptocurrency trading platforms that are already providing full technical support for Constantinople.

Ethereum (ETH) Recovering in the Cryptocurrency Market

After we have seen Ethereum reclaiming the position o0f the second-largest cryptocurrency by getting past Ripple’s XRP by 500,000 dollars in market capitalization at the time, the recovery of ETH in the market is becoming obvious.

Probably driven by the upcoming Constantinople fork in part, ETH is trading up by nearly 6% only less than two weeks before the fork, also scoring 50% of gains in the period of the last 30 days.

The upcoming fork should set the network for becoming a more scalable environment, which should help Ethereum platform regain its value as one of the top blockchain projects that introduced smart contract operations. 

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