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Important Month for Ethereum as Constantinople Hard Fork to be Activated on Jan 16th

January 02, 2019 16:44
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January 2019 is an important month for Ethereum, as the much-awaited Constantinople hardfork is scheduled for January 16th, 2019. This new hard fork will change the way Ethreum works and could usher a new wave of distributed ledger technologies.

The date of the new hardfork was announced by Ethereum developer Afri on Twitter. The hardfork will make Ethereum faster and less expensive to operate and is a big component of Ethereum’s transition from using proof of work protocol to proof of stake protocol.

This hardfork is also bit controversial as because it will decrease the miner’s reward from the current 3 ETH to 2 ETH. The hard fork will take place in 7,080,000 blocks. The Constantinople hard fork was scheduled for an earlier date but developers could not come into a consensus with the miners.

The announcement has a slight effect on the Ethereum’s price and is currently trading at $149, finding its way to reclaim the 2nd spot on market cap rank.

The other two least important hard forks happening before January 16th are Classic Vision hard fork on January 11th, in which all Ethereum holders will receive 3 ETCV for each ETH in their wallets and Ethereum Nowa Fork on January 12th in which holders will receive ETN in the ratio of 1:1 for free.

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