Ethereum Forks explained:

Ethereum Forks 2018

As the 2018 end Ethereum seems to regain it’s potential reaching the second capitalization position on the market. Since Constantinople does not solve the scalability problem and has not yet provide full PoS support, the Ethereum community implemented different forks during January, let’s take a closer look at them.

Ethereum Forks explained:

  • Ethereum Classic Vision: 11 January
  • Ethereum Nowa: 12 January
  • Ethereum Constantinople: 17 January

What is Hardfork?

To resolve the blockchain issues, you need to make the changes in the core code. Imagine like everyone use old cell phones and then comes smartphones. Some people can continue to use the old phones even if they are not so convenient as smartphones. Others will just switch to the up to date techs. The same is with Blockchain. When you need an upgrade - you need to switch to the new rules. The same is for the Constantinople hardfork will bring code improvements to the Ethereum blockchain.

Ethereum Classic Vision Fork - BEWARE, SCAM PROJECT!

With many buzzwords on their website that now is suspended, the project seems to grab your ETH private keys and nothing more. So be careful.

Ethereum Classic Vision suspended website

Ethereum Nowa Fork? - Scam Alert!

Ethereun Nowa Scam

ETH holders will get 1 Ethereum Nowa coin for 1 ETH on their wallet. It’s hard to trust the project as on their website to buy ETN tokens you need to move your ETH to their accounts and they will exchange it to ETN instead and the project goals seems uncertain and unclear. Also we can’t figure out who is standing behind their team. On BitcoinTalk you may see investigation, that team members were just stock images and nothing more. .

Also Guarda has investigated the project and found out that one sends the private key data to the Ethereum Nowa servers.

Ethereum Constantinople - Codebase Update

The only real fork of ETH.
Ethereum Constantinople Fork 2018

The Constantinople Ethereum hard fork is expected to be on 7080000 blocks. But, on January, 16. It was stated that EIP 1283 has hacking vulnerability and Ethereum community postponed the fork implementation.

The fork itself will affect the mining reward, improved sharding and P-o-S mining. Full P-o-S support is expected to be implemented in the future under the fork called Casper update.

Constantinopole fork Improvements:

  • EIP 145:Make use of smart contracts much cheaper, smart contacts will use gas amount 10x time lower than berfore. This update will improve the information processing on the ETH blockchain the process istelf called the “bitwise shifting”.
  • EIP 1052: Code execution will be optimesed. Hash adoption will make contacts verification more easier and rather effective.
  • EIP 1283: The pricing method will be made fairer and simpler in case of contract storage (SSTORE opcode).
  • EIP 1014:Off-chain transactions support. State payment channels will automatically improve the performance of the network.
  • EIP 1234:Block mining reward reduced to 2 ETH instead of 3. It will add extra 12 months of mining before the Ethereum Ice Age will come. It means when there will be nothing to mine, it will freeze the network or make mining profitable on the blockchain. The reduction in block mining reward would delay the difficulty bomb for a period of 12 months. The developers would keep on improving and the miners has to adopt the update, else wouldn't be able to profit from mining.

As the developers are skeptical about the update and wants to ensure the Casper update is safe, one got delayed several times. Approximately around 5,500 blocks would be created every day, if every 15 seconds a new block keeps on getting created, which would definitely out a pressure on Ethereum's value, and can prevent inflation.

The Constantinople hard fork is a part of infrastructure and protocol improvement for Ethereum blockchain, so we don't expect any new coins from this.

More details about the changes can be found here.

How the fork can affect ETH?

The lower block rewards will affect miners income, also there will be created implementation of payment channels with smart contracts that will pike up the technological part of the asset. The main thing the fork shows that the Ethereum is live and is the top blockchain asset and technology nowadays. There also expected to be short-term volatility after the hardfork.

What will be with my ETH coins?

They will be stored safely on your address and do not require funds transfer at all. The fork itself won’t affect the amount of ETH you have. Just keep funds on the place you’d like to and in the day of work please be aware and we recommend you to not making transactions due to the probably price volatility.

Download Atomic Wallet