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The main developers of Ethereum have agreed on when to launch a long-awaited hard fork. During a meeting on Friday, the developers planned to update Constantinople to go live on the 7.080.000 block. According to data on the Ethercan blockers explorer Etherscan, that blockade should approximately coincide with January 16, 2019.
The system-level review will implement fundamental changes to the Ethereum blockchain with incompatible updates backwards.
The technical improvements are largely designed to optimize the efficiency of the network and also to modify the Ethereum mining premium policy.
Co-founder Vitalik Buterin wrote the EIP 1014 update to facilitate early network scaling.
EIP 145 will introduce "native bitwise shifting", reducing the costs associated with managing smart contracts and accelerating processing times for smart contracts in order to eliminate the bottleneck that paralyzed the Ethereum network during the release of CryptoKitties , a popular game site of Ethereum that debuted last November. At that time, CryptoKitties brought the network to a sharp stop due to an overload of requests.
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Scalability has been a problem for Ethereum and has become the Holy Grail for blockchain developers in general while pushing to build decentralized mainstream applications (DApp) that can scale massively and compete with their centralized counterparts. Without solving the problem and being able to offer an environment that can help meet the great promise of decentralizing the Internet, Ethereum, the number one platform for DApps, risks losing the crown to any number of competitors, including EOS, Cardano, Tron, Stellar and NEO.
In an attempt to conquer developers, the challenger of Ethereum Justin Sun, CEO of Tron, a competing platform for DApps, says that "will build a fund to save the developers of Ethereum and EOS from the collapse of their platform, as long as these developers migrate their belongings alone to Tron".
In a Forbes report in August, Binance's CEO served Ethereum, as did Tezos, EOS and Dfinity as long-term players, calling them too slow. Instead of blockchains for general purposes, he prefers new tools like Komodo and Tendermint that are designed for more specialized intelligent contracts.
Constantinople was originally targeted for a November release date.
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