The Upcoming Ethereum [ETH] constantinople upgrade seems to be proceeding as per the planned schedule, as a wide used Ethereum software client has ‘revealed‘ new code that features a Constantinople activation time on GitHub on 11th Dec.
The post reads that Geth, that stands for Go Ethereum, v1.8.20 is a special release that would modify the Constantinople hard-fork on the Ethereum mainnet at block 7,080,000. Geth is one in all the 3 original implementations of the Ethereum protocol. The outline additionally states:
“It’s conjointly our last planned release of the 1.8 family, that means that we’ll begin merging backwards incompatible changes onto master in preparation of Geth 1.9.0.”
Ethereum core developers in agreed to launch this long-awaited Constantinople fork at 7,080,000 block on 7th Dec. The forthcoming Constantinople fork includes 5 separate Ethereum Improvement Proposals [EIPs] so as to reduce the transition from proof-of-work [PoW] to the additionally more energy-efficient proof-of-stake [PoS] consensus formulae.
PoS would essentially modify the Ethereum blockchain by means of a number of new upgrades, that would forestall any backward compatibility. This simply means that nodes should either update synchronically with the complete system or stick running as a separate blockchain entity.
The 7th Dec. agreement follows a choice to delay the constantinople fork for late Jan 2019 due to issue that appeared throughout an upgrade trial on the Ropsten testnet in October.
Yesterday, Ethereum co-founder Vitalik Buterin declared that future blockchains with sharding supported by ‘PoS’ are going to be “thousands of times additionally economical.” Buterin added that, as ‘scalability‘ advances [driving towards lower fees] and user expertise gets higher, non-financial applications can become “a larger part of the story.” He conjointly noted that blockchains aren’t just for “cutting computational prices,” however are instead about increasing computational prices while decreasing “social prices.”