Nodes Preparing Slowly for Ethereum’s (ETH) Constantinople Hard Fork
Users not running full Ethereum nodes do not have special tasks, but miners, exchanges, and other entities may need to speed up node upgrades.
The Constantinople hard fork on the Ethereum (ETH) network is coming in the next two days, with the countdown placing the exact moment around January 16. As this is not a contentious hard fork, Ethereum co-founder Vitalik Buterin has spoken of using a new term, such as an upgrade. Most major exchanges are on board with the upgrade, but node operators are yet to carry the new versions ahead of the fork.
A recent collection of data shows that around 40% nodes are currently ready, up from 15% a few days ago:
The non-contentious nature of the fork could mean that more nodes get on board with the latest clients in the coming hours. The Constantinople upgrade will help Ethereum remain a mined network for a while longer, as well as adding upgrades for more efficient computation.
ConsenSys, the biggest Ethereum production hub and startup accelerator, has posted a handy explanation of the pending upgrades. Recently, ConsenSys upgraded Infura, the interface most often used to communicate with the Ethereum blockchain.
Ahead of the hard fork, ETH market prices stagnated, and the asset once again ceded the second position in terms of market capitalization to Ripple’s XRP. ETH traded at around $128.70, down more than 14.5% in the past week.
Ethereum’s hashrate has remained largely flat in the past few days, awaiting the effect of the Constantinople fork. The network may soon open a form of staking, with 32 ETH staking possibilities seen as a relatively good investment:
The effect of the reduced block reward, known as “the Thirdening,” will decrease the payout to miners from 3 to 2 ETH, as agreed last fall. The previous hard fork, Byzantium, reduced the reward from 5 to 3 ETH.