ETHEREUM CONSTANTINOPLE AND ST PETERSBURG HARDFORKS

Updated: 03/01/2019 14:39
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ethereum hardforks
Constantinople and St. Petersburg hardforks took place at the Ethereum cryptocurrency network, learn more about the changes applied and issues fixed
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Constantinople and St. Petersburg hardforks took place at the Ethereum cryptocurrency network, learn more about the changes applied and issues fixed

Ethereum hardfork called Constantinople was successfully launched on February 28, 2019. Software updates include changing Ethereum basic protocol and creating new rules to improve the system. Constantinople is activated on block number 7080000.

It is worth noting that Constantinople is a transitional stage from the Proof of Work consensus algorithm to the Proof of Stake algorithm. The developers claim that thanks to the hardfork, the network will become faster and less expensive.

More specifically, Constantinople included such changes:

EIP-145 - 10 times lower cost of changes in smart contracts; EIP-1014 - increasing Ethereum scaling due to transactions outside the main blockchain; EIP-1052 is an enhancement of smart contracts that will allow them to confirm each other with a hash; EIP-1234 - lowering of the reward for a block and extending the difficulty rate per year; EIP-1283 - cheaper transactions and lower gas costs for SSTORE operations.

The update was successful. Together with Constantinople, the developers have integrated the St. Petersburg solution into the network. This is the second update that took place immediately after Constantinople and fixed a security-related error - canceled the EIP-1283 protocol, in which a vulnerability was discovered, due to which the fork was postponed from January to the end of February.

As a result of the software update, miners will mine 13,400 ETH coins per day. Creation of one block will take about 14 seconds, while the miner reward will drop from 3 to 2 ETH coins. The developers note that the final result during the upgrade has been achieved.


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