Cryptocurrency

28/02/19 11:52 UTC-4

Hardfork of Ethereum Constantinople will be today: how the blockchain ETH will change

Hardfork of Ethereum Constantinople will be today – a change in the ETH blockchain
Hardfork of Ethereum Constantinople will be today – a change in the ETH blockchain

Today, on February 28, 2019, the hardforkHardfork
– a fundamental change in the source code, incompatible with the old protocol and the used software.Details
of Ethereum Constantinople, the so-called "Ethereum 2.0", is to take place. Ethereum Constantinople is the second major network update in the history of Ethereum.

Hardfork begins with block №7280000 in the Ethereum blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
. The update was scheduled for January of this year, but the hard forksFork
– is the intentional use of one code base of a software project to start another. That is, changing the blockchain code to split it into two.Details
were transferred as a result of a critical error of one of the updates – EIP1283.

Interesting in the section: Kyber Network, as a combination of several advantages

 

Hardfork of Ethereum Constantinople

Surely, everyone who heard about today's hardfork think about its consequences for the blockchain network. After all, Ethereum is not only the second in terms of cryptocurrency capitalization, but also one of the most popular blockchain platforms.

Interesting in the section: Hardfork, softfork or division of blockchain of cryptocurrency

So, hardfork of Ethereum Constantinople will change the crypto-chain of coins as follows:

EIP1234 update. An update that will reduce the cryptocurrency inflation rate to 4%. Reward for miners coins are reduced by one coin. If before that, for each new block the miner received 3 ETH, then after hardfork, the figure will decrease to 2 ETH. After Ethereum Constantinople about 12342 ETH per day will be obtained, if we consider that each block will be formed every 14-16 seconds.

EIP145 update. Reducing gas for the blockchain platform, thereby reducing the board at ETH. The Ethereum Virtual Machine (EVM) will become more powerful due to the increase in computing capacity. The section of this update will also include EIP1283, which will reduce the gas costs of developers on the platform. According to the information about hardfork, EIP1283 can be disabled in the final update. Since, less than a month ago, in January, during a test hardfork network, it was this update that became a "vulnerability" and caused errors.

EIP1014 update. This item was the most discussed. This is an update of Ethereum scalability, which will affect the throughput of cryptocurrency. The update was developed by the creator of Ethereum Vitalik Buterin. Thanks to EIP1014, the ETH blockchain will work out of the chain (similarly with the Lightning Network).

EIP1052 update. Compression of data about contracts in the chain. The update will help reduce the "weight" of the ETH blockchain.

Summarizing, hardfork of Ethereum Constantinople will bring networks: improved encryption, lower commission charges, as well as the ability to work with the transactionTransaction
– is a financial term that means a logically meaningful operation that can only be carried out completely. Details
status code in "documents". Hardfork of Ethereum Constantinople will be today. About how to change the blockchain ETH has already been said several times. Recall that ETH is the second in terms of cryptocurrency capitalization. For today the price of one tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
is 137.46 dollars. On the day of its hardfork, the coin fell in price by 1.5%.

Editor: Pereyidenko Ihor

See also: "Steve Wozniak spoke about his positive attitude towards Bitcoin and crypto"

#cryptocurrency #blockchain #EthereumConstantinople #ETH #Etherhardfork #Ethereumhardfork #blockchainETH

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