Ethereum (ETH) Developer: “No Constantinople” Hard Fork in 2018 🚨 This article is 6 years old...
News ▸ Ethereum ▸ Price Watch
Ethereum (ETH) Developer: “No Constantinople” Hard Fork in 2018
2 min read
Updated: Nov. 7, 2019 at 2:44 am UTC
Photo by Rohan Reddy on Unsplash
The much-awaited Constantinople hard fork face yet another setback last week after an alleged “consensus” issue caused developers to term the testnet “not usable,” as per a tweet from Ethereum infrastructure firm Infura on Oct. 13.
Constantinople Delayed
As stated by several Ethereum developers, the Constantinople became active on the Ropsten testnet at block no. 4,230,00. However, testing results caused consensus issues on Ropsten, which led developer Afri Schoedon to note that while developers are actively investigating the issue, there would be “no Constantinople” in 2018.
no constantinople in 2018, we have to investigate
— ???? ???????? (@5chdn) October 13, 2018
Infura further advised developers and Ethereum enthusiasts to utilize testnets other than Ropsten while the issue is being investigated.
Schoedon followed up his initial message with another note on Oct. 14, during the Ethereum core developers’ call. All developers unanimously agreed that further “major issues” on Ropsten would cause the Constantinople hard fork to be indefinitely delayed. The next call is slated for Oct. 19, and the community was asked to keep track of developments until then.
To add to this, we just agreed on the last all-core-dev call on Friday that we will not be able to activate Constantinople this year if there are any major issues on Ropsten.
Everyone, stay tuned for the Ropsten Constantinople call on next Friday.
— ???? ???????? (@5chdn) October 14, 2018
For the uninitiated, the Constantinople hard fork is a system-wide Ethereum update to improve the network’s efficiency, apart from drastically enhancing the user experience for both developers and end-users. One of the most significant changes is the reduction of blockchain reward from 3 ETH to 2 ETH every 14 seconds, which helps to keep the protocol’s inflation rate in control. Currently, the inflation rate is 7.4 percent per annum.
Eric Conner, one of the most prominent Ethereum proponents, stated earlier in a blog post that the 33 percent in block rewards will “drastically improve” inflation rate. However, the broader cryptocurrency community has pointed out the move can lead to a Bitcoin halving-like event; which saw the pioneer cryptocurrency’s prices dump in the days leading to the halving, and “moon” following the development.
With EIP-1234 in place, here are updated Ethereum issuance numbers in 2019.
In summary, a lot of unnecessary selling pressure is now out of the market and inflation is around 4.7%. pic.twitter.com/DbHFUWZhza
— Eric Conner (@econoar) August 31, 2018
Meanwhile, the Ropsten testnet arrived ahead of schedule in late-2016, which at the time, was received by the community as a positive sign of the upcoming Constantinople testnet. However, coming closer to the latter’s block launch threw up several inconsistencies, followed by waning sentiment for the update.
Ethereum Market Data
At the time of press 2:44 am UTC on Nov. 7, 2019, Ethereum is ranked #2 by market cap and the price is up 6.52% over the past 24 hours. Ethereum has a market capitalization of $21.38 billion with a 24-hour trading volume of $2.84 billion. Learn more about Ethereum ›
Crypto Market Summary
At the time of press 2:44 am UTC on Nov. 7, 2019, the total crypto market is valued at at $210.88 billion with a 24-hour volume of $22.18 billion. Bitcoin dominance is currently at 54.10%. Learn more about the crypto market ›
Mentioned in this article
Posted In: Ethereum, Price Watch
Latest Ethereum Stories
Featured Story
Advertise Here
In this article
Ethereum
$3,585.54
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Ethereum Foundation
Ethereum Foundation, a Swiss nonprofit organization, is a worldwide team of passionate developers.
