Ethereum, one of the world's largest cryptocurrencies and decentralized app platforms, was supposed to get an update called Constantinople on January 16th.
Unfortunately, due to a security problem discovered only one day before the scheduled update, Constantinople was late, and now we have a new date: 27 February.
This is according to the developer of Ethereum Péter Szilágyi, who tweeted the change at the end of Friday.
It looks like we're going with the 7.28M block for the #Ethereum Reconstruction of Constantinople scheduled for February 27th! It will be a single fork on mainnet and a fork post-Constantinople-fixup on the testnets to put them back online with the main network.
– Péter Szilágyi (@peter_szilagyi) January 18, 2019
According to Szilágyi, the update is now scheduled for the 7,280,000 block in the Ethereum blockchain, which roughly translates into 27 February (it is impossible to give a precise time since the blocks in the blockchain are discovered and added at regular, but not exact, intervals , time intervals).
Originally, Constantinople was supposed to activate five separate updates called EIP (Proposals for Improvement of Ethereum). Four of these make the network a little more efficient and open the way for future updates. Now, however, EIP 1283 – an update that should have made certain transactions on the cheaper Ethereum, and even what turned out to be buggy – will be removed from the upgrade.
A particularly important upgrade called EIP 1234 will be included as originally planned. It regulates the parameters of the extraction of Ethereum, reducing the benefits obtained by miners for the discovery of new blocks and delays the self-imposed expiry clock of Ethereum called the difficulty bomb.
The changes, though important, mostly have an imminent update of Ethereum called Casper, which is scheduled to go live in 2019. Part of a larger effort that is sometimes called Ethereum 2.0, Casper should make major changes to the network. , in particular the transition from the proof-of-work consent mechanism to the less energy-intensive proof-of-stake.
In a tweet published on Sunday, Ethereum co-founder Vitalik Buterin made it clear that this postponement has no impact on the work done on Casper, which was developed by an independent team.
Disclosure: the author of this text has, or has recently owned, a number of cryptocurrencies, including BTC and ETH.