Ethereum (ETH) Hard Fork is on the Way

According to reports the long-anticipated upgrades on the Ethereum (ETH) Blockchain appear to have been officially activated. As per the report, since the activation of the ETH upgrades, there hasn’t been any incident to disrupt its progress.

At 19:57 (UTC), when block number 7,280,000 was achieved, the sixth and seventh system upgrades to the Ethereum (ETH) software, called Constantinople and St. Petersburg, rolled out smoothly. As observed on Fork Monitor the Blockchain monitoring website, there isn’t any evidence of a chain split. A chain split is a situation where a portion of Ether users are still using an older Ethereum (ETH) software.

Ethereum (ETH) Price Today – ETH / USD

Name Price24H (%)
Ethereum (ETH)
$266.69
7.89%

Previous Ethereum (ETH) Hard Forks Have Suffered Similar Setbacks (Chain Split)

Past hard forks on the Ethereum (ETH) Blockchain have seen a lot of setbacks. The most notable case is during the 2016 hard fork that gave rise to Ethereum Classic (ETC). At the time a group continued running the old software when the upgrade was introduced.

Before any system upgrade, miners and node operators have to install the new client software which will automatically update at the same block number. This is to prevent two concurrent and incompatible models of the same Blockchain (chain split) from splitting the broader network.

St. Petersburg Code Activation Has Disabled Part of the Constantinople Code

With this activation well on the way, St. Petersburg’s code has disabled part of Constantinople’s code that was deemed to host security vulnerabilities back in January. This code could still be used by hackers to steal user funds.

“With the Blockchain technology, everyone will eventually upgrade so that they can be able to use new features,” Taylor Monahan who serves as the CEO of MyCrypto, the Blockchain wallet tool highlighted.

“About two weeks to the hard fork, everyone upgrades with the software, but the new features aren’t enabled,” Monahan added.

MyCrypto currently operates 10 to 15 computer servers on the most upgraded model of Ethereum’s Parity client.

Following today’s release of the Constantinople and St. Petersburg upgrades, four different EPIs (Ether improvement proposals) have been activated on the network. One of which introduces a new “corner case” that has been affecting smart contract immutability.

The market price for Ethereum (ETH) has seen a minor price jump from $135.14 prior to release. Now it sits at $136.99, according to data provided by CoinDesk.

AlphaPoint Employee Joins Casa

One of the earliest enterprise Blockchain employees has decided to go full blown crypto. Michael Haley has left his position as a product manager at AlphaPoint. AlphaPoint is a digital securities platform. Haley left his position at AlphaPoint to join crypto custodian Casa in November of last year.

Haley is a long-time Bitcoin bull who started attending community meetups in 2014. He has been participating in online discussions about Bitcoin (BTC) five years ago. Haley said this is the best time “to get back into the Bitcoin (BTC) scene.”

At Casa, Haley serves a product experience lead. His duty is to handle the onboarding of new clients to make sure the products meet their requirements.

Because Casa’s wallet is designed to hold large amounts of BTC, the clients must be properly instructed. They have to be assisted to make their experience smooth.

 

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