The major crests of OKEx and Huobi Global cryptocurrency will support the hardening of Ethereum (ETH) Constantinople, which is estimated to occur between January 14 and 18, according to a press release shared with Cointelegraph.
Constantinople 's hard fork is an update, which should radically change the Ethereum blockchain, with the update of the synchronous nodes to the whole system. The rigid fork encloses the separate EIP (Ethioum Improvement Proposals) in order to mitigate the transition from the working test (PoW) to the more energy-efficient PoS (proof-of-stake) consensus algorithm.
Apparently, OKEx will take a snapshot of all OKEx accounts at the block height of 7,080,000, the number at which Ethereum core developers agreed to launch the fixed fork at the start of December. The exchange is calling traders to deposit their ETH tokens in the exchange as it will handle all the technical requirements for the rigid fork.
Huobi will also support the hard fork. Similar to OKEx, Huobi advises its customers to deposit their ETH in Huobi Global to better handle any technical issues related to the rigid fork. The exchange also includes the rigid scaffold at block height 7.080.000.
Ethereum has been designed as a platform for decentralized applications (DApps) and in its development four main updates have been established in order to make the network more suitable for this purpose. The ultimate goal of the Ethereum Foundation is to follow Vitalik Buterin's vision and move from a PoW protocol to a PoS protocol, which will presumably deal with data mining and scalability issues.
Once released, the improvements would fundamentally change the Ethereum blockchain through a series of new updates, which prevent any backwards compatibility, which means that the nodes must update in sync with the whole system or continue to function as a separate blockchain entity. .
Today, Ethereum core developers have reached an attempt to implement a new proof-of-work (PoW) algorithm, "ProgPoW", which would increase the efficiency of GPU-based extraction on the network. The developers pledged to launch ProgPoW some time before the launch of Istanbul, as an independent update, but at the system level, although the exact timing of ProgPoW will continue to be discussed at the next devs meeting on 18 January.