Ethereum Constantinople Hardfork is Successful

The long-awaited Ethereum Constantinople Hardfork is now live. Developer team of Ethereum (ETH) are ready to launch Constantinople on Ethereum network.

Constantinople Hardfork was prepared to happen on 14 January but due to some vulnerabilities, the network upgrade was delayed. The hardfork is then scheduled to happen on block 7,280,000 that was likely to happen on 28 Feb. Two network upgrades are activated Constantinople and St. Petersburg.

The new block (7,280,001) after the hardfork is not compatible with the old Ethereum nodes. Old nodes are unable to broadcast new transactions on the Ethereum network they must need to update to the latest version. 

Cryptocurrency community have seen Bitcoin hardfork on 1 August. The famous Bitcoin Cash (BCH) resulted in chain spilt of the Bitcoin chain. This happened because of some miners not support the Bitcoin hardfork. Ethereum hardfork is opposite of Bitcoin Cash hardfork. Virtually whole Ethereum community is supporting the Constantinople hardfork and there is no chain split in the fork.

Constantinople will change the structure of the Ethereum chain and upgrade it to Ethereum 2.0 that will be a Proof-of-Stake (PoS) network. Proof-of-Stake (PoS) chain allow Ethereum very high number of transactions per second (TPS) with minimal energy usage.

One of the biggest change in Ethereum chain is that the reward per block is reduced to 2 ETH from 3 ETH. This will reduce the unlocking of new coins and maybe fuels the next big rally in Ethereum.

Ethereum is holding its second position among the 2000+ cryptocurrencies. Ethereum is now trading at $137 and the total marketcap of Ethereum is $14.4 Billion.

Choose wisely, Every Coin is Not Bitcoin