What Can We Expect from Coming Ethereum Hard Forks

Margo

Margo

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There will be two important updates of the Ethereum network today -- Constantinople and St. Petersburg. Constantinople has to increase the platform’s effectiveness, postpone the difficulty bomb and reduce the unit reward from 3 to 2 ETH.

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St. Petersburg is designed to remove the previous EIP 1283 update from the Ethereum test networks. Two hard forks at once — it is quite a significant event for any cryptocurrency. In this article, we present several opinions that have emerged among crypto-experts about how the forks will affect this cryptocurrency.


REDUCING THE NUMBER OF MINERS AND COINS
For quite a long time in a crypto-community, disputes about the prospects of the hard fork EthereumConstantinople, which, according to Vitalik Buterin, is a long-awaited and necessary upgrade of the network, have not abated.
A total of five infrastructure parameters will change, one of which – EIP 1234 – may have a significant impact on the cost of the Ethereum, since it reduces the remuneration for each extracted block in the network from 3 to 2 ETH. This is a forced measure, as it will allow noticeably, namely, almost twice, to reduce the creation of new coins and, accordingly, to reduce the very high inflationary ETH value from almost 8% to about 4,5%.


HARD FORK WILL NOT AFFECT THE RATE OF ETHEREUM
In 2018, the rate of Ethereum fell abnormally strongly, and Ethereum lost second place in the cryptocurrency rating. However, analysts mostly associate this not with the fork, but with an abundance of unsuccessful ICO-projects. Recently, the rate of Ethereum has ceased to fall in relation to Bitcoin and even slightly increased. Altcoins are traditionally more volatile than Bitcoin.
If you look at the events of recent days, then on February 24, the rate of Bitcoin (EXANTE: Bitcoin) rose from $ 4,000 to $ 4,200, and the Ethereum — from $ 148 to $ 164. At the same time, on February 25, the Bitcoin exchange rate fell to $ 3,800 and Ethereum to $ 138. Now Ethereum costs 0,036 BTC, which is quite typical for this winter. Hard fork is unlikely to significantly affect the rate at the moment.


 
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