Altcoin News: Constantinople and St. Petersburg Updates Were Successfully Activated on the Ethereum Network

March 1, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

February 28 at 18:57 UTC time, on the block 7,280,000 in the Ethereum network, the update Constantinople was successfully activated.

According to the Ethernodes portal, an updated version of the software compatible with Constantinople was installed by 19.9% ​​of Geth wallet users and 32.6% of Parity wallet users. Overall readiness for hard forks was 22.1%.

Activation of Constantinople, which is part of a three-stage update called Metropolis, took place without any incidents. Users of the current version of the wallets Geth and Parity successfully synchronized, and together with the miners, operators of nodes, as well as business representatives turned out to be in the new network.

According to the parameters laid down in the update, the block creation time should return to 15 seconds after it has grown to 20 seconds due to the activation of the bomb complexity. The reward for the block will decrease from 3 to 2 ETH, however, the issue of cryptocurrency will increase, since the last few weeks the miners could not get the maximum amount of reward due to the increased complexity. In addition, miners will now be able to mine about 13,400 ETH per day, and developers will have access to improved network capabilities.

A few minutes before the update and some time after it, the portal tracking the fork was not working, but no problems were noticed on the network itself.

“Historically and logically we’re far more likely to have a problem caused by a fork some unknowable time after the fork block, rather than at the fork block itself,” explained the developer of the domain system Ethereum ENS Nick Johnson.

Following Constantinople, the update of St. Petersburg, which turned off part of the original fork code, which contained security vulnerabilities in some elements. In addition, the launch of the test network Beacon Chain is expected in March, which should improve the scaling of the blockchain of Ethereum.

The ETH course did not respond to fork — the price continues to be at $136–$137 and remains relatively stable over the past hours.

Author: Marko Vidrih

Chart via CoinMarketCap