Cryptocurrency

Could Ethereum’s Hard Fork Boost The Market?


Many crypto enthusiasts are eager to see what 2019 will hold for the market. 2018 was a less than favourable year as the awful performance of most cryptocurrencies has left a mark on many investors. Despite this, there are many digital currencies are the subject of a lot of positive developments and Ethereum now seems to be set to undergo one of its own.

This year will see Ethereum will see a hard fork in its blockchain. Over the next few weeks, the Constantinople hard fork will occur. This news is just what the market needs right now as the highly anticipated hard fork has already caused a spike in demand for the cryptocurrency with traders extremely excited to see what this will bring.

The hard fork should be similar to the previous Bitcoin hard fork in which Bitcoin Cash emerged from the ash (or did it?). The Ethereum hard fork i’ll come with prizes which would halt the “difficulty bomb” which is the act of tampering with the complexity of mining until it eventually becomes an unprofitable act. When the process of this is disrupted, the system will be stable and remove any possible chance of miners and developers trying to execute their hard fork on the blockchain to fix the issue. The network won’t be split from this hard fork however.

 

 

There will be a change for ETH4 too after the Constantinople hard fork with ETH2 being the result. This is a reduction in gains generated by mining Ethereum which will help decrease the supply of the one coin in the market every day. Originally, the Constantinople hard fork was to finish on 13th August last year and then get put to the test for two months until October where it could be fully released. But the network developers at Ethereum discovered a few issues with the program during the test period and so the hard fork was postponed.

As reported by ZyCrypto, “part of Ethereum’s price tumble last year was attributed to the postponement of this incoming fork, which saw the digital coin drop as low as $85 in the latter stages of December. This drop marked a 94% loss of value from the coin’s all-time high when it peaked at $1’389 on the 15th of January last year.”

What are your thoughts? Let us know what you think down below in the comments!



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