Late Ethereum Constantinople, ETH down 5%

Update of Ethereum Constantinople Blockchain late

Tuesday afternoon, about 48 hours before Ethereum Constantinople, five protocols focused on short-term downsizing solutions and emission reductions, was scheduled for launch, it emerged that the update will be delayed.

Christine Kim and Nikhilesh De from CoinDesk recently reported on the topic. The two journalists explained that Tuesday, ChainSecurity, an intelligent contract auditor, revealed that the integration of Ethereum Improvement Proposal 1283 would allow attackers to steal funds from users. In an emergency call, which saw the appearance of Vitalik Buterin, Hudson Jameson, Afri Schoedon and others, the main developers have confirmed that the update of the rigid fork should be delayed, as the problem is assessed.

Joanes Espanol in an interview with CoinDesk explained the vulnerability contained in EIP 1283. Espanol, the CTO of Amberdata, noted that the so-called "reentrancy attack" allows an attacker to "re-enter" a blockchain function several times , even if users' "state of affairs" do not update. The blockchain technologist has elaborated:

"Imagine that my contract has a function that calls another contract … If I'm a hacker and I'm able to activate the function for a while while the previous function was still running, I could be in able to withdraw funds. "

Regardless of this delay, many cryptic commentators and researchers have said that the updating of Constantinople will bring long-term benefits to the popular blockchain network. Alex Krüger once noted that considering the simple demand and the economy of the demand, Ether could get a queue advantage due to the reduction in supply emissions from Constantinople.

1 / #EthereumThe Constantinople fork will arrive on the 7080000 block, around January 16, 2019. Constantinople will reduce the block premiums from 3 to 2, decreasing again $ ETH provide accordingly.

In the long run, this is definitely bullish. https://t.co/4bbgAHMz7Z

– Alex Krüger 🇦🇷 (@Crypto_Macro) 24 December 2018

He added Ether holds at $ 150, Constantinople will only force "pro miners" who are paying $ 0.075 for KWH, which is far from the "spiral of death" that some cynics were waiting. In the analyst's eyes, hobby miners, who pay $ 0.075 + per KWH or other, will continue to abandon, as this subset of participants does not care about short-term fluctuations.

This, of course, is a presumably positive signal for the Ethereum ecosystem, as many experts look to the health of mining prospects to determine correct cryptocurrency assessments.

However, there were skeptics. Han Yoon, the CEO of the multi-faceted startup of Crypto Lunar Digital Assets, participated in his personal media blog last Tuesday to touch the update, scheduled for Thursday.

After a thorough analysis of Ether's status in the wider mining kingdom, in which he claimed that the gold days of the GPU's extraction are now in the rear mirror, the lunar head broke the likely impact of Constantinople .

Yoon noted that at present, the GPU Ethereum Miners operate on extremely fine margins, with a $ 2,000 plant generating only $ 20 / week at average electricity tariffs. The researcher has continued to notice that this already depressing situation is "everything ready to change". Although he has praised block premium reductions, such as the half-life of Bitcoin or events of a similar size on the Ethereum chain, as "economically advantageous," Yoon noted this called "third" could not happen at a worse time.

He noted that Ethereum's hashrate could fall dramatically after the update, which in turn would damage the value proposition of ETH. Constantinople can also drastically increase the centralization induced by ASIC.

In any case, this recent news has brought down the assets. At the time of writing this article, ETH costs $ 120 each, with a loss of 6% in the last 24 hours.

Ethereum News:

• Ether allegedly stolen from cryptopia: We recently reported that Cryptopia, a New Zealand-based exchange focused on altcoin, has been hacked. Although the company did not disclose which assets were stolen, only by claiming that "significant losses" were incurred, analysts suggest that upwards of 20,000 ETHs ($ 2.5 million) have fled from the exchange portfolio the day of the attack.
• Cryptographic analysts expect etereum competition in 2019Kyle Samani of MultiCoin Capital argues that Ethereum's hegemony in the realm of smart contracts will be questioned in 2019, as projects such as Cosmos seem to usurp the platform rule.

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