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In the first month of the new year, Ethereum will experiment with several hard forks, 3 of which are more significant:
- Hard Vision Classic Fork – 11 Jan 2019: All Ethereum holders will receive 3 ETCV for each ETH in their wallets.
- Forcella Ethereum Nowa – 12 Jan 2019: Each holder of ETH receives ETN in the ratio of 1: 1 for free.
- Forcella di Costantinopoli – 16 Jan 2019 (or previous) Rigid fork of Constantinople Mainnet programmed for block n. 7080000: Constantinople Mainnet's rigid fork is probably the most significant fork because it is a major component of the Ethereum transition from the use of a bollard-proof working test protocol.
What do these forks mean for the stability of the Ether network and the price of ETH?
Ethereum now faces the toughest competition ever since Blockchains loves EOS, Cardano, Zilliqa and more. While all these Blockchain have seen their currencies lose nearly 90% of their value in the last year, this does not change the fact that hard forks tend to weaken the general support that a blockchain network attracts, especially when developers start to choose the sides and migrate to work on the new chains that are formed. We can make the same comparisons with the cash Bitcoin and Bitcoin (now BCHABC and BCHSV after BCH). There may have been some people in the cryptographic space who believed that BCH could compete and one day outperform Bitcoin, but after the last fork, it seems much less likely that a fragmented BCH team will outperform or block the original blockcoin network. bitcoin.
If the competitors of Ethereum continue to grow unison, while the fragments of Ethereum in various forks may become too diluted to always operate on the same scale as an EOS or a Cardano.
Regarding the price of ETH, the long-term forecasts for hard forks are generally difficult to achieve. However, in the short term we can expect to see some significant volatility as the market will certainly be ready to jump on any new currency that comes from the three upcoming forks.
Bitcoin forks have historically led to lower price reductions for BTC because some of the value that belonged to the Bitcoin network was broken down into the newly bifurcated chain. When Bitcoin Cash bifurcated from the Bitcoin network, the price of Bitcoin rose from $ 2800 to $ 2700 in July 2017.
This bodes well for the new coins that will emerge from the forks ethereum, but as regards Ethereum, it certainly does not help to make it easier to recover the spot n. 2 which was taken by XRP in the second half of this year. On the other hand, the fork of Constantinople that helps the transition of Ethereum to the POS is a significant milestone to provide some short-term bullish sentiment.
Ultimately, it is difficult to determine exactly how the ethereum range of forks will affect the network or the price in the short or long term. What is important to note is that Ethereum is currently in the midst of a critical transition phase that could determine whether or not it will remain the most dominant blockchain for Dapps in the coming months.
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