Ethereum’s Constantinople Hardfork to be activated on Jan 16, 2019

The much-awaited Ethereum’s Constantinople has a date. It’s January 16th, 2019. The hardfork will take place at around 7 AM UTC. The date was announced by Ethereum developer Afri on Twitter.

https://twitter.com/5chdn/status/1079095325325955073

The new hardfork would make Ethereum faster, and less expensive. According to developers the hardfork would “usher in a new wave of distributed ledger technologies”.  The block in which that hardfork will take place is 7,080,000.

Constantinople is a controversial hardfork. The hardfork would decrease miners rewards from 3 ETH to 2 ETH but also decrease the block time, making the network faster. Although scheduled to take place a while back, the developers could not come into a consensus with the miners.

To signify the hardfork date, developers working on Constantinople and community members are adding Jan 16 besides their Twitter Display Name.

The announcement has had no effect on the price of Ethereum so far, one of the possible reason for the same could be due to sluggish cryptocurrency markets. Ethereum is currently trading at $136, a 0.11% decrease since the past 24 hours. According to price analysis, Ethereum is expected to move sideways for a while.

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