After reaching an agreement, Ethereum developers have readied plans for the Constantinople hardfork.
#Ethereum Constantinople mainnet hard fork scheduled for block #7080000, estimated around the 16th of January, 2019!— Péter Szilágyi (@peter_szilagyi) December 7, 2018
The long-awaited Ethereum hardfork, dubbed Constantinople has experienced equal measures of anticipation and turbulence. Originally set to deploy in November, the fork was delayed due to a failure on the testnet.
surrounding the failure and subsequent delay, Ethereums price continued to tumble from an all-time high of around $1400 to its current price floating around $100. The accumulation of uncertainty surrounding the cryptocurrency leaves it in a pretty bad shape to hardfork. However, the fork is entirely necessary...
Ethereum is destined to hardfork every so often due to the so-called “difficulty bomb” which slows down blocks and, if left unremedied, will lead to a point where no more blocks can be mined; thus this upgrade is integral to the smooth running of the network.
While in no way comparable to the recent and dreadful fallout from the Bitcoin Cash hardfork, there has been some infighting between various parties regarding the fork, mainly between miners and investors (surprise, surprise)… Constantinople would see the block reward reduced from 3 ether to 2 ether per block mined, something which would (obviously) adversely affect miners, but positively impact investors, as it would slow inflation of ETH.
Developers have chosen block 7,080,000 for deployment, Ethereum is currently at block 6,86,1035 Meaning that Constantinople could be deployed around the 14th January 2019.