Ethereum Will Become More Like Zcash After The Constantinople Fork

The Ethereum constantinople fork is coming soon after over a year of waiting. The anticipation of the upgrade was what led to the minor bullish rally Ethereum experienced at the beginning of the year. Over the last seven days, however, ETH has fallen by 16% against the USD. This may be as a result of a panic sell-off ignited by uncertainty about the upgrade. It’s not unusual for investors to become nervous before a network upgrade. Considering what happened after the BCH upgrade, it is totally understandable.

ETH Will Become More Like Zcash After The Fork

Recently, Ethereum’s co-founder, Vitalik Buterin said that he wants the Ethereum network to be more like Zcash. Buterin said that Ethereum holders do not fully understand what is about to happen with the Constantinople fork. There are some connotations surrounding the word fork that are causing confusion in the community. He gave Zcash a thumbs up for their smart marketing skills. This is because Zcash decided to call their network fork, a network upgrade in a bid to avoid the confusion surrounding the word fork.

Ethereum (ETH) Price Today – BTC / USD
NamePrice24H %

According to the Ethereum roadmap, Serenity is going to be integrated soon. Buterin isn’t just looking for a way to port the apt phraseology of Zcash over to Ethereum, he is also trying to imitate some of the tips that help the network scale. You see Ethereum uses the proof-of-work consensus mechanism that makes it difficult for the network to scale. EOS, a rival network, is capable of processing thousands of transactions every second using a different consensus mechanism known as proof-of-stake. Ethereum can only handle 15 transactions per second. When there is high throughput, the network becomes completely clogged.

Buterin hopes that zk-SNARKs, which is used to facilitate private transactions on Zcash, can be used to make Ethereum more scalable. zk-SNARKs will be integrated into Ethereum’s network during the Constantinople upgrade that is scheduled to take place next week. In February 2017, Buterin said that zk-SNARKs support on the Ethereum network is going to serve as a key feature on the platform’s roadmap. In September 2017, Buterin said that the algorithm will be able to scale the Ethereum network to 500 transactions per second.

Ethereum (ETH) Price Analysis

With over a 16% decline within the last 7 days, ETH has been in red. Almost all the gains it accumulated during the minor bull rally it enjoyed in the beginning of the year. Let’s not forget that it is over 90% down from its all-time-high it reached over 12 months ago.

While a new chain may not break out during the upgrade, Ethereum is going to reinvest itself for sure. The sooner the cryptocurrency market recognizes this transformation, the better. The prices will start trending upward again.

At the time of writing, ETH was trading at $127.42. This means that it is up by 1.32% against the USD and up by 1.89% against Bitcoin (BTC). The trading volume over a 24 hour period is $2,434,543,577 and the market capitalization is $13,294,189,186. The fork is going to take place on the 16th of January 2016. After the fork, everyone will know if the price of ETH is bullish or bearish.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.