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Bitcoin Cash fork, which leads to the formation of Bitcoin SV with an 80 percent price crash for Bitcoin Cash, a vicious lawsuit against the biggest backers of Bitcoin Cash. It also initiated an overall crypto space crash that has brought the market to the lowest levels of 2018. Now Ethereum's developers have made their final plans for a hard fork that is codenamed Constantinople. This fork will be at 7,080,000, which will occur anywhere from Jan. 14 to 18. Constantinople has the potential to split the Ethereum community since it disenfranchises the miners who secure the Ethereum network.
The time is right with the collapse of Ethereum's price from $ 1,400 in January to less than $ 100 today. Many Ethereum miners have to be seen on apps like OfferUp and LetGo, where people are dumping their Ethereum rigs for whatever money they can get. The reality is more Ethereum mining rigs earn less Ether than the electricity they burn. Indeed, Ethereum's hash rate has crashed from 300,000 GH / s to 175,000 GH / s.
The constantinople hard fork will reduce the rebound from 3 Ether to 2 Ether, and this significant one-third reduction in mining revenue adds insult to injury for Ethereum miners. Slashing the block reward is already bad enough, but the Ethereum developers are rushing forward with their plans to implement ProgPoW, which will block ASIC rigs from mining Ether. Clearly, there is a disconnect between the Ethereum developers and Ethereum miners, and this is a perfect storm that could lead to a split and the birth of a new version of Ethereum.
A final decision has not been made on whether ProgPoW will be included in the Constantinople hard fork, but apparently an overarching goal of this fork the transition from PoW, where the miners are secured, to the proof of the stake (PoS), where there are no Ethereum mining rigs at all. Obviously, Ethereum miners who have collectively invested billions into Ethereum mining hardware do not want to transition to PoS. If you are likely to be doing this, you will probably find it hard to do it in January 2019. This is especially true if ProgPoW is implemented, which would make Ethereum ASICs obsolete for Ethereum mining.
Miners that use Ethereum ASICs. In fact, their survival is at risk and this is the only way for Ethereum.
Ethereum has been plagued by increasing Securities and Exchange Commission (SEC) since most initial coin offerings (ICOs) have been launched using the Ethereum platform. This has already wreaked havoc across the Ethereum and ERC-20 token markets. Bitcoin Cash fork.
The name of the Ethereum fork, Constantinople, is ominous from the Roman Empire after the Roman empire split. Ultimately that split led to a total collapse of the Roman Empire.
It seems that it is now threatening to divide the Ethereum empire, which could ultimately lead to its downfall since most of the miners who are securing Ethereum could leave during January 2019.
As Satoshi Nakamoto knows, the mines are the lifeblood of proof of work cryptocurrency, but the Ethereum developers do not seem to recognize that fact.
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