The latest digital currency news show that a bunch of core developers at Ethereum (ETH) have finally decided to share a date for the Constantinople hard fork, which is now again delayed until late February.
It seems that this situation is raising a lot of eyebrows but at least we have a confirmation about it. As announced by a team lead at Ethereum named Peter Szilagyi in a tweet, the upgrade is now set to be implemented at ETH block 7,280,000.
This is not the first time Ethereum has delayed Constantinople. However, in the announcement, Szilagyi explains that the activation fork is expected to be mined on February 27th this year, implemented as “a single fork on mainnet and a post-Constantinople-fix up fork on the test nets to get them back in line feature wise with the main network.”
This new deadline comes in times when there is an unexpected delay over a recently discovered security vulnerability which allows a reentrancy attack, detected in Constantinople’s code by the smart contract audit firm ChainSecurity.
The vulnerability allows a potential attacker to steal cryptocurrency from a smart contract on the network – by repeatedly requesting funds from it while feeding it false data about the malicious actor’s actual ETH balance.
For those of you who don’t know, the upcoming Constantinople hard fork is an upgrade to the ETH network which encloses separate Ethereum Improvement Proposals (EIPs) in order to soften the transition from the current proof-of-work (PoW) to the more energy efficient proof-of-stake (PoS) consensus algorithm.
Craig Wright Calls Out Ethereum For Being Unable To Scale
“This network has already hit its limit and is effectively only being used to raise capital using illegal bucket shops that are designed in such a way that they can deceive nontechnical parties,” wrote Wright. “No technology released within Ethereum for the provision of computation or ICOs has been created that did not exist prior and in a more effective manner before this network was launched.”This isn’t the first time Craig Wright attacks Ethereum but Vitalik Buterin has also attacked Wright calling him a ‘’fraud.’’
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Ethereum Price Increases By 13% Overnight, Is The Market In For Recovery?
“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.’’Over the past few months, Bitcoin and the other cryptocurrencies show similar movements. BTC showed weeks of stability but it later plunged by 10 percent. However, the current stability is not a guarantee for improved future performance. The crypto market shows a period of stability for the past couple of weeks. Ethereum made gains during today’s trading session. After the 12 percent surge in the price of ETH, crypto trader DonAlt said:
“Well, this is a proper moon. Not a big liquid spike but rather a nice controlled walk up. Didn’t expect quite this much action into the weekend but I’m not complaining. ETH as the top gainer on BitMEX. Right at resistance here – will be interesting if it can break through or not.”
Ethereum Rises 13% Overnight, Crypto Market Is Ready For A Recovery
“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.”Over the past several months, Bitcoin and the rest of the market have shown similar price patterns. However, because the market had experienced extended periods of low volatility in the past few months, many traders expected the trend to continue. According to the cryptocurrency analyst DonAlt and his statement:
“I’m incredibly bullish on ETH for the next few weeks. I’d get a cardboard Vitalik cutout if I could just so I have it by my side 24/7. No matter what BTC does ETH will outperform the market in my mind. I’ll use dips as giant buying opportunities.”However, he also added that the movement was controlled and it is currently at a key resistance.
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