The long-planned Ethereum fork is coming on Jan. 16th. With Constantinople going live within weeks.
Constantinople Activating in January
Constantinople is one of the key milestones in Ethereum’s roadmap to version 2.0, which moves the protocol from proof-of-work (PoW) to proof-of-stake (PoS). Compared to the larger plan, Constantinople’s changes are minor. The update introduces a few new opcodes—pieces of logic programmers use to develop smart contracts, delays the intensity of the mining “difficulty bomb” and reduces the reward for finding blocks, and alters and optimizes the way gas is consumed.
Once activated, nodes running Constantinople will be incompatible with the previous version of Ethereum, resulting in a “hard fork” of the blockchain. Ethereum team lead Péter Szilágyi predicts that the protocol will fork on Jan. 16th, when the blockchain reaches block 7,080,000.
Once the hard fork is activated, nodes running the latest software will operate on the new fork. Legacy nodes that continue operating on the original blockchain will no longer get compensated because the tokens on the old fork will likely become worthless. Users will automatically have their ether available to spend on the new fork.
This Could be good news, however only time will tell…