Ethereum’s (ETH) two long-anticipated network upgrades, Constantinople and St. Petersburg, have now been scheduled to occur this week, according to an official blog post by the network on Feb. 22.
More precisely, both updates are set to happen at when Ethereum (ETH) attains block 7,280,000, on Feb. 28. Considering the unpredictable nature of Ethereum (ETH) mining, implementing the upgrade could happen a day or two days before or after the scheduled date, the announcement added.
Ethereum (ETH) Price Today – ETH / USD
Constantinople and St. Petersburg Were Originally Scheduled for Separate Launches
According to the post, the upgrade has two names representing the originally separate upgrades the network planned to implement both of which have now been combined to occur as one event.
Constantinople will reportedly bring the platform many efficiency improvements, delay of the “difficulty bomb” and address Ethereum’s block reward decline.
Constantinople upgrade will delay the difficulty bomb for 12 months. Additionally, to compensate for the easier mining activity, Constantinople will feature the “thirdening” a reduction of block reward for every miner from 3 ETH to 2 ETH.
Constantinople will also bring the Create2 function to Ethereum platform, which was initially rumored to launch an attack vector on Ethereum. However, Ethereum’s (ETH) co-founder Vitalik Buterin dismissed these concerns.
The other network update set to occur alongside Constantinople, St. Petersburg, is designed to delete a previous update, the Ethereum Improvement Proposal 1283 (EIPs) from Ethereum’s (ETH) test networks.
Last month, major United States exchanges Kraken and Coinbase became the latest platforms to confirm their support for Ethereum’s long-awaited upgrade. Coinbase and Kraken join Binance, Huobi, and OKEx to have pledged to monitor Ethereum’s upgrade before its initial implementation attempt.
As Cointelegraph had recently reported, all new Ethereum generated through mining is recording its lowest levels ever, according to the data from Etherscan.
Google Cloud Includes Enterprise-Focused Development Platform
The development of Ontology (ONT) has been included to Google’s Cloud Platform Marketplace, according to a Medium post from Ontology published on February 23.
The supported software, known as ont_dev_Platform, consists of a set of tools created for developing smart contracts on the Ontology (ONT) blockchain. The DApp product comes with a block explorer, smart contract IDE (Integrated Development Environment), SmartX, and an ONT test environment.
As per the announcement, this addition will make the project “among the first public Blockchains with a development platform on top cloud provider marketplaces.” Meaning Ontology (ONT) is also available on Amazon Web Services and Microsoft Azure.
Ontology (ONT) Briefly Became the Number 17 Largest Digital Currency
Launched by OnChain, Ontology is a public Blockchain designed with the aim of easing the use of the now emerging technology for major companies.
Following a surge in prices this weekend, ONT managed to briefly enter number 17 among the top 20 digital coins by market capitalization, before dropping to number 21 as of press time.
As Cointelegraph had initially reported, South Korea’s biggest telephone company, the KT Corporation, intends to launch a new Blockchain-as-a-service (BaaS) platform in the coming month.
In November, news came to light that Microsoft’s Japanese arm has entered into a partnership with nascent Blockchain enterprise LayerX to “accelerate” the uptake of the technology through the Microsoft Azure BaaS solution.