Ethereum Constantinople FORK, what do you need to know?
Updated
ETHUSDBITMEX:ETHH19
BITMEX:ETHUSD
ETHUSDETHUSDThe "Constantinople Hard Fork " is closer than ever, scheduled for release on the 28th, this week on the Ethereum network. However, there is still much confusion and even misinformation about the nature of the supposed fork.
Constantinople is part of the Metropolis project, a series of upgrades and improvements to make the Ethereum network more sophisticated and much more efficient. This will be done through different changes that will happen in the network. Prior to Constantinople, the ETH passed by the "forks" Homestead in 2016 and Byzantium in 2017 (Part of the metropolis project, as well as Constantinople). Curiously, both forks did not have much impact on the price of Ethereum.
It is worth remembering that the term "hard fork" is being used to describe this new moment of Ethereum, but this is not the exact naming of what will happen. Vitalik himself disagrees with how Constantinople is being called:
"IMO the Ethereum community should consider adopting @zcashco's terminology of calling things like Constantinople "network upgrades" and reserve "fork" for splits that leave 2+ viable chains. Too many people asking me lately where they can dump their non-Constantinople coins... " --Vitalik.
The tweet from the creator of Ethereum well sums up a feeling that is hovering over the crypto community. When calling Constantinople hard fork, many people assume that the network will be split into two, as happened after the infamous DAO incident which gave rise to the Ethereum Classic (ETC). Of course, it's not wrong to call Constantinople a fork, but it's important to understand the difference from the other forks which prevents users from falling into certain "scams", such as the Ethereum Nowa and the Ethereum Classic Vision that promise airdrops and can hurt users.
Knowing that Constantinople is an update, you and me as traders do not have to worry about anything. For investors and users interested only in the currency, just understand that nothing will be changed in the operation of the Tokens and that ETH will continue in the same way we know it today.
However, it is still important to keep an eye on this update as an observer and market investor. Like all other platforms, Ethereum can only have value if it proves useful, far beyond market speculation.
By improving these operations, the ETH network is taking important steps to improve its acceptance and consequently become a more complete and robust tool, which in the long run will probably bring effects on price by becoming an even more complete and reliable platform .
We should not expect any price movement because of this fork, so look at what the chart tells you and in that case trade quietly, but keep an eye on the news to confirm that the update occurred as expected and without bringing any kind of setback
Note
Fork lauches tomorrow.
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