Home / Ethereum / No relief for Ethereum as Constantinople

No relief for Ethereum as Constantinople

The tiring fork of Constantinople and the update of the Ethereum network are expected this Wednesday, but last week's crypto crash, followed by further losses yesterday, has led to the elimination of most of the recent gains of the market. ; ET.

Hard fork expected on Wednesday

According to a recent blog post on the Ethereum blog, the planned update will take place at block number 7080000, scheduled for Wednesday, January 16th. A countdown has been published to get a more accurate timing of the fixed fork.

Constantinople will provide several key updates to the Ethereum network covering performance, cost efficiency, and further preparation for a possible transition to a stake consensus test. Five proposals for improvement of Ethereum (EIP) will be implemented during the update.

The first, EIP 145, updates the bitwise shift instructions in the Ethereum virtual machine (EVM) so that it uses less gas. This essentially adds native functionality to the protocol so that it is less expensive and easier to do certain things on the chain.

EIP 1014 is another performance update that enables interactions for off-line addresses. EIP 1052 provides new enhancements for intelligent contract code verification that simplify chain operations and make gas more efficient.

The fourth EIP is 1283 which proposes the measurement of net gas allowing new uses for the storage of the contract, while reducing the consumption of gas on the network. Finally EIP 1234 regulates the reward of the block and delays the difficulty bomb. This is to effectively buy more time until PoS is implemented with Casper extending "the ice age" or the difficulty for another 12 months to prevent the blockage of the current blockchain.

All improvements are welcome updates to the Ethereum network that has been criticized for its scalability problems.

Discharge of 24% etereum in three days

The upgrade of the network should give Ethereum a fundamental impulse, but prices have been reversed, since ETH is still irretrievably entangled in Bitcoin's movements. From its mid-December minimum for the year, Ethereum had almost doubled in price.

These gains were eroded even though ETH again released 24%, as the recent defeat started late Thursday. Ethereum reached its peak of 2019 at $ 160 last weekend and held out until the markets dumped $ 16 billion in one day at the end of last week. He has since dropped from over $ 150 to a minimum of $ 116 a few hours ago.

Constantinople fails to strengthen Ethereum at the moment it is still rocking around its lowest levels since May 2017.

Image from Shutterstock

Source link