As it is known, on January 17 the Ethereum’s update Constantinople was supposed to be activated. However, this did not happen due to a vulnerability found in the project’s code, which could let intruders withdraw money of users eternally.
This week core developers of Ethereum agreed that it will take a long time to fix the bug. That’s why the activation of the hard fork has been postponed until the end of February.
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Details On The Constantinople Delay
On January 18, a team lead at Ethereum Peter Szilagyi announced on Twitter that the long-anticipated hard fork has been delayed until the end of winter. At the same time, he notified that the fork will be executed at ETH block 7,280,000.
Seems we're going with block 7.28M for the #Ethereum Constantinople refork scheduled for the 27th of February! Will be a single fork on mainnet and a post-Constantinople-fixup fork on the testnets to get them back in line feature wise with the main network.— Péter Szilágyi (@peter_szilagyi) 18 января 2019 г.
This particular block is expected to be mined on February 27 this year. The team leader also added that the Constantinople update will be set out as “a single fork on mainnet and a post-Constantinople-fixup fork on the testnets to get them back in line feature wise with the main network.”
The new hard fork is an update to the Ethereum’s network. Several major crypto-exchanges such as Kraken, Coinbase and Huobi have acknowledged their embrace of Constantinople. The project encompasses separate EIPs. This will mitigate the conversion from the existing PoW to PoS. The latter algorithm, by the way, appears to be more energy-efficient.
It is anticipated that Constantinople upgrade will reportedly alter the Ethereum ledger in the principle. This way any backwards compatibility will be preempted. It means that the net nodes have to upgrade simultaneously with the whole system or keep functioning as a single DLT entity.