Hardwork Ethereum to be held on January 16. After the upgrade Constantinople will indeed be a new chain of blocks, but the “classic” division of the block chain as it was with the same Bitcoin Cash, will not. The fact is that hardwork Constantinople is not disputed and is intended to improve the project. What should ordinary users and miners Ethereum before hardforum?
Preparing to Constantinople
During activation Constantinople miners must switch to a new blockchain, which will be a continuation of the current chain of blocks of Ethereum. All smart contracts will also be transferred from “old” to “new”. Because the developers had planned from the beginning to make major changes in the code of the project, they needed to hold it hardwork.
However, the possibility of creating new coins after Constantinople still exists. Such a scenario is unlikely to materialize, but if the big mining pools will suddenly decide to go on their way, they will be able to continue to produce their own coin on the blockchain.
What happens to ERC-20 tokens during Constantinople?
Standard ERC-20 along with smart contracts will be transferred to the new blockchain. For a normal user to do nothing. By the way, after the upgrade they will pay less for gas transactions with tokens.
What do the miners?
Almost all the major mining pools were supposed to make the necessary preparations for the hard forks. About ASIC mining: resistance to the work of Asimov network Ethereum has been discussed in the Ethereum Foundation, but it was never added to the list of changes in Constantinople.
What will happen to the coins on the exchanges?
Once again we remind you that you don’t have to hold large stocks of cryptocurrencies for trading platforms, it is unsafe. With the assets traders will be fine — the largest stock exchange is also ready for the hard forks.
Beware of the Scam!
Now there are rumors about airdrop coins Ethereum Nova and other similar projects. It is the work of scammers, phishing attacks aim to extract your private keys. During activation Constantinople you just have to wait, so be careful and don’t click suspicious links.
The post Important upgrade: What you need to do to hard forks of Ethereum? appeared first on FineCrypto.