The Ethereum Constantinople hard fork is expected soon. The hard fork will take place in four stages. There are the Frontier, Homestead, Metropolis, and Serenity. The Constantinople hard fork should have taken place around August 2018. However, it was postponed to January 2019 after various errors were found in the program during testing. The hard fork is now expected to take place between January 14-18 when block number 7080000 has been mined.
The Exact Date
The exact date of the hard fork has not been decided. However, it is most likely that it will occur on January 16. The average block time now stands at 15 seconds. At the current block 7035939, it means there are 44,061 blocks lefts. When calculations are done, it shows there are about five days left.
Exchanges That Will Support It
Thus far, 19 exchanges globally have announced they will support the fork. Huobi and OKEx were amongst the first to announce they would support it. The management team and OKEx noted that the exchange would take snapshots of all accounts starting on block 7,080,000. Huobi has also asked its traders to deposit ETH tokens in the platforms since it will help to manage any technical issues that arise.
CEOX.IO, based in London, announced that the company was adjusting its system to support the hard fork. Just before the upgrade, the exchange will not allow any withdrawals or deposits in ETH. This will ensure that funds are secure. After the upgrade, all ETH holders can resume trade. Bittrex, based in the US, has announced similar measures.
Benefits Of The Upgrade
The upcoming hard fork has received a lot of praise for achieving consensus in the Ethereum community. However, there might also be other hard forks that developers and other members of the community might wish to make unique upgrades. In case this happens, Binance has requested developers to contact them.
Other Exchanges Offering Support
OKCoin has also said they will support the upgrade. This is also true on IDAX, which has asked users to deposit coins into IDAX. Koinex an Indian exchange stated that they would support the hard fork via a tweet.
Bitmart also confirmed they would support the hard fork. Users will need to deposit their ETH with them. Cryptopia, based in New Zealand, will also support this fork. Many other exchanges have announced their support for the upgrade.
The other exchanges that will support the upgrade are Bibox and Hotbit based in China, EtherFlyer, a decentralized exchange, BitForex, WazirX, based in India, and the Exodus Wallet. Others are the Singapore exchange ABCC, Thai-based TOK, Indodax, based in India, and Catex, the mining platform.
In December 2018, ETH was the third biggest coin by market cap. This was after it was edged out by Ripple’s XRP. This was also a time of intense bear market conditions. ETH was trading at $83 around December 15. However, it has since recovered and is trading at $134.84.