Ethereum: What is the Constantinople Hard Fork?

the sleep again, then it is (probably) to the extent that: In the case of Ethereum, the next Hard Fork. The "Constantinople" baptized Update includes the implementation of five suggestions for improvement for the Ethereum network. The Hard Fork to Block 7.080.000 and is thus expected to be on 16 January take place.

By Christopher clover
15. January 2019ETH$125,55 -1.43%Facebook Twitter LinkedIn xing mail

On the 16. January expected Ethereum is the next big Update. The long announced and repeatedly postponed update of the Ethereum Protocol forms a part of the plan to make Ethereum in the long term, so scalable, that it can be his claim to form a kind of decentralized world computer. So the Plan is to come in the future, the Proof-of-Stake Consensus (PoS). Also if the switch is on the PoS will ask the Constantinople to Hard Fork the Soft.

Specifically, to be implemented with Constantinople five suggestions for improvement (Ethereum Improvement Proposal, EIP) of the Ethereum Protocol. These Changes primarily relate to the technical programming aspects for the development of Smart Contracts, and the Mining of Ethereum. Therefore, only operators of Full Nodes, and Ethereum-Miner are encouraged to update their Clients on a Constantinople-enabled Version. Ethereum-user and Hodler of Ether need to make any more updates.

Constantinople: The five innovations in Ethereum (ETH)

EIP 145: Bitwise Shifting the Ethereum Virtual Machine (EVM) is a new Operator. The bitwise shift of values is, as yet, only via the detour of the already in the EVM existing logical and arithmetic operators. Through the introduction of Bitwise Shifiting this detour is eliminated, making up to ten times lower GAS costs.

EIP 1052: EIP 1052 is also used for saving computing time and cost for verification of the Smart Contracts. With EIP, it should be possible that Smart Contracts can be verified by a Hash of each other, without in each case the entire Code of the other Contracts needs to be reviewed.

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EIP 1014: This suggestion comes from the pen of Ethereum co-founder Vitalik Buterin. EP 1014 to prepare the ground for the so-called State Channels. State Channels allow the execution of Off-Chain transactions, the significant increases in efficiency promise, because not all of the Ethereum block Chain must be checked for the verification of transactions. In the case of Bitcoin, it works with the Lightning Network and its Payment Channels to a similar so-called "Second-Layer-solution".

EIP 1283: proposal 1283 contains improvements in relation to the Op-Code SSTORE. Here, too, the saving of GAS Costs on the developer side.

EIP 1234: probably The most important Upgrade relates primarily to the Ether-Miner. The good news for miners: The dreaded Difficulty Bomb at the earliest to burst in the next twelve months. The term refers to an exponential increase in Mining Difficulty, which makes the "Mining" of Ether in the long term, unattractive and at the same time the Transition to the consensus via Proof of Stake is supposed to usher in. The bad news: The implementation of EIP 1234 is associated with a reduction in Block Rewards from three to two ETH.

there Is a new Token?

The Constantinople Hard Fork leads to a further ETH Blockchain, in the case of the above EIPs. The Hard Fork is for a large part of the Ethereum Community as uncontroversial – at least most of the larger Ethereum Clients are on Board. If everything goes according to Plan, it will be after the Hard Fork for any participant in the Ethereum network for a reason, the old ETH Blockchain record, such as the time, in the case of Ethereum Classic. Whether the Miner are similar to closed behind the new Ethereum Chain as the majority of Full Node operators, it remains to be seen. Finally, a 33-percent decrease in the reward per geschürftem Block. For the profitability of the Ether, mining the cost of electricity, however, play with the Hash Rate and the Block or Mining Difiitculty and (not least) at least as important role.

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