The Core developers of the Ethereum (ETH) Blockchain have chosen to postpone the activation of the Ethereum Constantinople hard fork or upgrade until late February 2019. As per the report the long anticipated Ethereum Constantinople upgrade is set to be implemented when ETH attains block 7,280,000. The news came to light via an official announcement by a team of developers at Ethereum (ETH) lead by Peter Szilagyi, in a tweet on January 18.
Ethereum (ETH) Price Today – ETH / USD
Revealed in the announcement made by Szilagyi, it was brought to light that the long awaited upgrade activation will take place when ETH attains block number 7,280.000. The exact date this is slated to be mined is on February 27, 2019. The Constantinople upgrade will be activated as “a single fork on the MainNet and a post-fixup-Constantinople fork on the testnets will occur to get the new features in line with the main network.”
Security Vulnerability Prompted Constantinople’s Delay
While many have seen this report as a surprise, smartereum understands that the new deadline comes after an unexpected delay over the discovery of a security vulnerability that can allow a reentrancy attack. This security issue was reportedly detected in the Constantinople code by ChainSecurity a smart contract audit firm. Reports have it that the issue is being tackled to ensure that such loophole isn’t repeated again.
The newly discovered vulnerability on the Constantinople code reportedly allows a potential cyber attacker to steal digital assets from a smart contract on Ethereum’s (ETH) net work by requesting for funds repeatedly while feeding the framework falsified data about the malicious individual’s actual ETH token balance. Hence, in a bid to to patch this loophole, the activation of the Ethereum Constantinople upgrade had to be postponed until further notice. Although a new date has been set for it to go live.
Constantinople Encloses Separate EIPs to Smoothen PoW to PoS Transition
The upcoming Etheruem Constantinople hard fork is an upgrade to the Ether network, that encloses separate or multiple Ethereum Improvement Proposals (EIPs) in a bid to soften the change or transition from the currently used proof-of-work (PoW) consensus model to the more modern and energy efficient proof-of-stake (PoS) consensus protocol. The upgrade will reportedly bring a number of upgrades to the Ethereum (ETH) protocol.
Once the Constantinople update has been implemented, these new improvements would fundamentally change the Ether Blockchain for better, preventing any backwardness when it comes to compatibility. This in essence means that the Ethereum (ETH) network nodes must either be updated synchronically with the whole system or continue to run as a Blockchain entity separate from the Ethereum protocol.
Constantinople is Widely Supported
The Ethereum (ETH) Constantinople update has effectively received a lot of support in the cryptocurrency sector. The entire ecosystem has come to embrace it. We can recall from a previous report by Cointelegraph in recent weeks that major crypto exchanges including the likes of Coinbase, Huobi, Kraken, and OKEx have all confirmed their support of the Constantinople update. We now have to wait until the February 27 date to see if the activation will really occur as planned.