Ethereum sets January deadline for Constantinople mainnet hard fork
Members of the open source Ethereum development team seem to have come to a consensus on the activation of the Constantinople upgrade. The upgrade is now scheduled for block #7,080,000 and will take place between January 14 and January 18, 2019. Speaking at a bi-weekly core developer meeting on Friday, developers spoke about a number of things related to the Constantinople upgrade.
#Ethereum Constantinople mainnet hard fork scheduled for block #7080000, estimated around the 16th of January, 2019!
— Péter Szilágyi (@peter_szilagyi) December 7, 2018
According to a report by Trustnodes, the much anticipated and controversial upgrade will implement a number of features for developers, with the main differentiating factor being the reduction of miners’ reward from 3eth per block to 2eth per block.
Originally scheduled for November release, Constantinople would bring about a number of design changes aimed at streamlining the platform’s code. Additionally, it also aims to delay the ‘difficulty bomb’ which is a network level algorithm that exponentially increases the amount of work required to mine a new block and it also makes miners’ resistance irrelevant when the network effectively gets rid of them through the Proof of Stake (PoS) upgrade.
After the Constantinople upgrade, the PoS Beacon Chain testnet is scheduled to be released in March.
The developers have also suggested a 10x scalability before the sharding goes live, with it too to be implemented in stages in another transformation that aims to build a scalable blockchain for generations.
Developers also spoke about Ethereum 1x, another upgrade which is scheduled to be released in 2019. Several groups gave accounts of the progress, but they stressed that the development was still in the early stages.
While all this stuff might sound a bit technical and out of context for a normal reader, it is very relevant in turning the simple skeleton of blockchain into a skyscraper buzzing with business activity. So, January 16 might mark an important phase in the development of a public blockchain which might become an integral part of our daily lives in the near future.
Image via Shutterstock
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