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Ethereum (ETH) Developer: “No Constantinople” Hard Fork in 2018

Ethereum (ETH) Developer: “No Constantinople” Hard Fork in 2018

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.

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.

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.

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 | ETH

Updated: Oct 15 at 7:04 pm PDT
$208.38
6.52%

Ethereum, currently ranked #2 by market cap, is up 6.52% over the past 24 hours. ETH has a market cap of $21.38B with a 24 hour volume of $2.84B.

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Ethereum is up 6.52% over the past 24 hours.

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Filed Under: Ethereum, Price Watch
Shaurya Malwa

Post-mining his first bitcoins in 2012, there was no looking back for Shaurya Malwa. After graduating in business from the University of Wolverhampton, Shaurya ventured straight into the world of cryptocurrency and blockchain. Using a hard-hitting approach to article writing and crypto-trading, he finds his true self in the world of decentralized ideologies. When not writing, Shaurya builds his culinary skills and trades the big three cryptocurrencies.

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