Huobi and OKEx will support Ethereum's Constantinople hardfork

05 Jan, 2019 | Updated: 05 Jan, 2019
by David Robb
Huobi and OKEx will support Ethereum's Constantinople hardfork

Huobi and OKEx have announced that they will be supporting the upcoming Ethereum hardfork, as reported by CoinTelegraph. Constantinople is due to launch sometime between January 14 and 18.

Both trading platforms are encouraging ETH holders to deposit their funds in their exchange accounts, so they can administer all the latest technical upgrades required for them to function properly. A snapshot will be taken of holdings at block 7, 080, 000. This was the number reached when the hardfork was agreed upon by ETH devs in December.

Read more: Ethereum to hardfork at block 7,080,000

Binance was the first crypto trading platform to announce its support for Constantinople, and the backing of major exchanges is increasingly important as crypto networks seek to update their protocols. The issue over which platforms would be supporting which fork of Bitcoin Cash (BCH), in the run-up to the contentious chain split back in November 2018, was a major factor in deciding which team would 'win' the hash war and gain support of the community.

Read more: Binance to support upcoming ETH Constantinople hardforkBCH hash war shows just how centralized crypto really is

Ethereum's Constantinople upgrade will introduce a number of new protocols, the most notable of which will be for easing the transition of the network from a proof-of-work (PoW) system to a more energy-efficient proof-of-stake (PoS) alternative. This has been a source of some controversy recently, with commentators pointing out that PoS has never been properly tested, and criticizing the Ethereum project as a whole. Others believe that the update could see a return to success for the crypto which lost its number 2 spot to XRP towards the end of last year.

Read more: Ethereum (ETH) criticized by Tuur Demeester: "not money, not safe, not scalable"Will Ethereum see a boost in the new year with the launch of Constantinople?

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