Ethereum Is Going to Get a Big Constantinople Upgrade – Here’s What You Need to Know About It

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Ethereum, the third-largest cryptocurrency by market cap and the most popular platform for decentralized applications is getting an upgrade on (roughly) Jan. 16. 

Nexter.org found out what you need to know about it.

ethereum-upgrade-constantinople-photo

Source: CHUN CHRISTOPHER WONG/S3STUDIO/GETTY IMAGES

What is ‘Constantinople’?

The upgrade is called Constantinople and it makes the Ethereum network a bit more efficient, paving the way for bigger changes further ahead. It also brings some important changes for miners on the network.

Constantinople is the name given to this network upgrade. Previous network upgrades have been given other names such as Spurious Dragon and Byzantium.

The upgrade is predicted to occur on Wednesday, January 16, 2019. You can monitor the network upgrade in real time at http://forkmon.ethdevops.io/.

ethereum-upgrade-constantinople-photo

Is there something you should do? 

If you use an exchange (such as Coinbase, Kraken, or Binance), a web wallet service (such as Metamask, MyCrypto, or MyEtherWallet), a mobile wallet service (such as Coinbase Wallet, Status.im, or Trust Wallet), or a hardware wallet (such as Ledger, Trezor, or KeepKey) you do not need to do anything unless you are informed to take additional steps by your exchange or wallet service.

Why do we need an upgrade?

ethereum-upgrade-constantinople-photo

Source: Shutterstock

A network upgrade is a change to the underlying Ethereum protocol, creating new rules to improve the system. The decentralized nature of blockchain systems makes a network upgrade more difficult. Network upgrades in a blockchain require cooperation and communication with the community, as well as with the developers of the various Ethereum clients in order for the transition to go smoothly.

What changes are going into Constantinople?

Changes that are implemented in Constantinople are defined using EIPs. Ethereum Improvement Proposals (EIPs) describe standards for the Ethereum platform, including core protocol specifications, client APIs, and contract standards. The following EIPs will be implemented in Constantinople.


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Ethereum Is Going to Get a Big Constantinople Upgrade - Here's What to Expect
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Ethereum Is Going to Get a Big Constantinople Upgrade - Here's What to Expect
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Ethereum, the third-largest cryptocurrency by market cap and the most popular platform for decentralized applications is getting an upgrade on (roughly) Jan. 16. 
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