Ethereum hard fork 2019 Support

Ethreum Hard Fork 2019 support

Ethereum couldn’t take its demotion over Ripple and recently, Ethereum gained back its second position and is working towards retaining the position forever or longer. On December 29th, 2018, Ethereum grabbed its old position, with a market capitalization of $15,293,262,380, and is valued at around $150 USD. Since the mid-Dec,

The possible reason for the momentum in Ethereum price could be upcoming Eethereum Hard Forks. There are 3 hard forks lined up for this month of January.

  • Classic Vision Hard Fork
  • Ethereum Nowa Hard Fork
  • Constantinople Ethereum Hard Fork (Major one)

What Led to the ETH Hard Forking?

Ethereum has decreased by more than 10 times from its all-time high in 2018, and many platforms and companies launched via Ethereum face enforcement pressures from the US Securities and Exchange Commission for securities trading and unregistered issuance.

Ethereum Hard Fork Explained

  • Classic Vision Hard Fork

Ethereum Classic Vision is a new currency created after the hard fork of Ethereum and this leverages the best of Ethereum Classic (ETC), i.e. True Ethereum and Decentralization (ETH),i.e. The mining and sharding of PoS.

  • Ethereum Nowa Hard Fork

Only one day after the Classic vision hard fork, on 12 January 2019, Ethereum Nowa Fork takes place, where the owners of the ETH receive 1 ETN( Ethereum Nowa) coin in their private wallets for each ETH. The ETN Nowa roadmap states that by Q2 2019, and even mobile wallets( Android, iOS, WP) will be provided with ETN desktop wallet. The Ethereum Nowa decentralized exchange and the block in Q3 and Q4.

What Led to the ETH Hard Forking and Why Is It Important?

Since its high all- time in 2018, Ethereum has lost 90% of its value. The ICO phenomenon, scalability issues, energy inefficiency and centralization risks could be the possible causes of the price collapse. The developers found that the difficulty bomb programmed into Ethereum caused the blocks to become extremely slow after a certain point, after which no blocks could be extracted.

Why do Ethereum hard forksΒ happen?

Ethereum declined for some time last year, so developers tried their best to identify the causes of such a drastic decline. As they discovered, the blocks were very slow–to the point of extreme mining difficulties. As a result, the team must regularly update the network technology.

What is going to happen after theΒ forks?

Cryptocurrency experts predict a period of Ethereum volatility after the changes are implemented. Every upgrade, especially if it as radical as the ones mentioned above (the PoS transition, for example), brings risks to the table. However, the developing team of Ethereum is still very dedicated to performing the Constantinople upgrade.

 

Ethereum hard fork 2019 Support

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