With a struggle to outwit Ripple as the number one coin on various trading platforms, Ethereum has come to terms with the Hardfork having agreed on her last meeting which was attend by over 10 developers. You can see here in case you want to see how it went.
With a market capitalization of more than $13,200,260,380, and valued at around $150 USD, since the mid-Dec, Ethereum’s market capitalization has doubled from around $8 billion to around $16 billion. The possible reason for the momentum in Ethereum price could be upcoming Ethereum Hard Fork.
As reported by Coinswitch, there are 3 hard forks lined up for this month of January.
• Classic Vision Hard Fork
• Ethereum Nowa Hard Fork
• Constantinople Ethereum Hard Fork (Major one)
However, the first and second Hardforks: Ethereum Classic & Nova Hardfork took place on 11th & 12gth January, 2018.
ETH owners will get 1 ETN (Ethereum Nowa) coin for every ETH in their private wallets
Did you miss out to getting a double of ETH Nova coin? If yes, then follow us in order not to miss out again.
To get more crypto terms and their meanings I encourage you to see this in detail.
Hardfork can be seen as a situation whereby two parties split as a result of one agitating for independency or other causes – like the British role in Africa.
And when the parties’ path ways, all the benefits due to the independency is shared among the citizens.
Coming back to cryptocurrency.
When there is a Hardfork, it is always in the benefit of the citizens (crypto holders) as they will be issued new separated coins. Also, they can lose out if they import their keys during time.
What’s up with Ethereum Hardfork?
With the enforcement pressures from the US Securities and Exchange Commission for the trading of securities and unregistered issuance, Ethereum has decreased by more than 10x from its all-time high in 2018, and numerous platforms and companies.
More so, due to the programming algorithm of Ethereum block which has become extremely slow to a point that no more blocks can be mined.
So, in order to make the system work, the developers have to hardfork periodically so that ETH keeps on getting updated with the latest technology.
This is it.
You can view the event as using an android app which at a point can become obsolete and slow. So, for it to be productive for users, it must be updated.
Again, it is worthy to note that Ethereum has already experienced a split once, which led to hard fork over the loss of the development fund and some didn’t agree on reversing any transactions even if it was a hack, which led to the formation of ETC (Ethereum Classic).
Understanding Ethereum Constantinople Hard Fork
As explained above, all Hardfork have their reasons same with the Constantinople Hardfork.
The Constantinople Hardfork will implement few major changes related to improve Ethereum blockchain performance and mining rewards mentioned in Ethereum Improvement Proposals (EIPs).
Let’s see the upcoming Constantinople Hardfork and why you need it.
Will there be an Airdrop for Users?
It is obvious that there is no exact statement on this. However, this is what will happen.
“Huobi Global will support the Ethereum (ETH) Constantinople hard fork. During the upgrade, Huobi said, if there are any airdrops, Huobi Global will distribute them to users after receiving the airdrops.
It is recommended that you deposit ETH to Huobi Global since Huobi Global will help you deal with any technical problems regarding the hard fork.”
What it means is that if holders of Ethereum will be given another forked coin then the under listed exchanges shall support it.
What Date Will The Ethereum Constantinople Hard Fork Occur?
According to investinblockchain.com, the exact date of the hard fork is yet to be confirmed, but we do know that the fork will take place after block number 7080000 is mined.
According to sources familiar with the technicalities, the current average block time is around 15 seconds and today we have 44 061 blocks to go until we reach block 7080000. Therefore, calculations put the Constantinople hard fork to happen on Wednesday, January 16.
What Exchanges are supporting Ethereum Constantinople hard fork? There are over 10 of them.
Just so you know. Binance supports it.
What Must All ETH Hodlers do?
Harforks make an asset price to surge. It is recommended that the holders get some ETH in case there is an airdrop which means they can get a double coin.
Also, you want to avoid importing your wallet private keys to any new unrecognized wallets promising fee coins during this time.
Where to buy and keep Ethereum? Use Binance.