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Ethereum Updates: ETH Constantinople Hardfork and a New Challenge

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Ethereum Constantinople hardfork is scheduled around 28th Day of February 2019. For now, there are no such indications about another delay.

The network of Ethereum will be upgraded around 28th Day of February 2019. The Constantinople hard fork of the Ethereum (ETH) network will be held within a few days, if everything goes as per the plan then the date of upgradation may arrive anytime after 26th Day of February 2019.

Last hard fork was delayed in January which was a day before the launch due to the discovery of the bug at the last moment. It is being said that there are possibilities of another critical vulnerability, which may delay the process once again.

For now, there are no such indications about another delay. Ethereum Foundation’s developer Afri Schoedon left after claiming that there are disagreements in the process of decisions making.

The Ethereum hashrate is low in the month foremost to the hard fork. The fall is of 2 ETH from the current hashrate of 3 ETH. The market price of assets is also at a breaking point after a recent rally and remains unable to cross the level of $150. On Friday, ETH was trading at $145.43 as of 8:10 UTC.  A positive sign is the high trading volume.

 

What’s next?

In upcoming days, the price of ETH may see a change of direction depending on whether the hard fork goes as planned or gets delayed again like the previous one.

For now, 20.64% of all Ethereum nodes are ready for the fork, with expectations that most users would be able to get on board at the last moment.

As per Amberdata.io, The official announcement has been made stating that the scheduled upgrade will happen at block number 7,280,000 on 28th Day of February 2019, which is the end of the month.

The counted on hard fork will bring major changes to the Ethereum Improvement Proposals (EIPs), which will affect various things, like core protocol specifications, client APIs, and contract standards. St. Petersburg is a new addition which is also planned to take place on the same block number as Constantinople.

 

Even after so many controversies and a massive price fall, Ethereum has started to see better days in the crypto market.

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Token Taxonomy Initiative: Enterprise Ethereum Alliance & Microsoft

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Token Taxonomy Initiative built as a technology-neutral initiative will operate across different blockchains currently having Ethereum, Hyperledger & Corda.

The Enterprise Ethereum alliance and Microsoft have brought together the major enterprise blockchain providers behind a new project aimed at helping businesses develop the proper crypto tokens for their particular needs.

 

Token Taxonomy Initiative

It is being called the Token Taxonomy Initiative and is being built as a technology-neutral initiative which will operate across different blockchains currently having Ethereum, Hyperledger, and Corda, the biggest enterprise blockchain solutions and this initiative already include large partners IBM, ING, JP Morgan, Intel, and Microsoft, all with the aim of creating token standards for business users across all network.

 

The process for the development of enterprises which is basically going to be as simple as a drag and drop approach. This initiative is a big leap for particularly in terms of actually kicking open the doors for enterprises to enter the space and say that it is quite easy to use this technology.

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Analysis: Will Ethereum Rise in 2019?

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There is a great possibility that the price of Ethereum might never rise again, At least not to the figures it earlier achieved.

Bitcoin and Ethereum have been leading the cryptocurrency market for quite some time. While bitcoin blockchain’s main motive is to track the transactions, Ethereum’s main motive is to run the codes of DEX or decentralized apps.

While most people feel that bitcoin will always lead the cryptocurrency market, some believe the cryptocurrencies such as Ethereum might overtake bitcoin in the future. Currently, a group of companies known as Enterprise Ethereum Alliance supports the Ethereum blockchain who are working hard to improve the overall functionality of the blockchain.

 

Can Ethereum rise in 2019?

While Bitcoin is a store of value and most people use bitcoin as a form of investment, Ethereum is mostly used by software companies for development of their own dapps.

Ethereum saw a tremendous rise in price as well as in market capitalization during the ICO era which might have ended last year. In 2017, there was a boom in the overall ICO market and most Initial Coin Offerings collected their investments in the form of Ethereum. This had led to a massive demand for ETH as investors had to purchase ETH first in order to invest in other initial coin offerings.

Ethereum Price Chart

Ethereum Price Chart

The price of Ethereum reached more than $1400 at the start of 2018 and people started to feel that Ethereum might even overtake bitcoin soon. However, as months passed in the year 2018, both the price and the market capitalization of ETH experienced a massive mall which might be related to the end of ICO era. Cryptocurrency analysts also believe that the massive selling of Ethereum by Initial Coin Offerings who had been storing them as investments was the main reason for the fall in the price of ETH. Thousands of ICOs started selling their ETH holdings when they saw a bear market coming upfront.

 

Why ETH might never rise again:

There is a great possibility that the price of Ethereum might never rise again, At least not to the figures it earlier achieved. One of the reasons for this is the rising popularity of other blockchain platforms such as TRON who are direct competitors to ETH and some are even performing a lot better than Ethereum. The overall development of ETH blockchain seems to be quite slow and thus people have started to adopt other blockchains which are more suitable for their products and perform better than the Ethereum blockchain.

 

Another big reason why Ethereum might not rise again is the end of the ICO era. The number of initial coin offerings has seen a tremendous decrease last year and even lower this year. Also, the interest of investors has shifted from Initial Coin Offerings now as they do not see a safe and profitable future in investing in ICOs. As one of the major reasons for the rise of ETH was the ICO market and now with the end of the ICO era, Ethereum might never see those robust bulls again.

 

The following article is not financial advice. Readers are requested to do their own research and analysis before making any investment decisions in the cryptocurrency market which is highly volatile.

 

What do you feel about the future of Ethereum? Tell us in the comments section below.

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Ethereum is not a Security: SEC Chairman confirms Commission Staff Analysis

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Jay Clayton, the Chairman of the SEC and an American attorney gave confirmation on the Commission Staff’s Analysis that said that cryptocurrencies such as Ethereum are not securities.

 

Ethereum like tokens are not securities:

The SEC chairman has responded to a letter signed which was signed by Tedd Budd and several other colleagues after asking that whether the policy that would put forward last year by William Hinman, the director of the Divison of Corporate Finance should be regarded as the policy of the SEC or just a judgment of the Securities and Exchange Commission’s staff.

Jay Clayton responded to the letter by stating that he agrees to the statements of William Hinman that was made during the June 2018 speech that concern the digital tokens or cryptocurrencies. He said that he agrees that if a digital token is offered as security is not fixed (static). It might be offered first as security as it might meet the definition of an instrument contract, however, the position might change over time if the digital token is offered in a manner that does not represent that definition anymore. He agreed with William Hinman’s clarification about how the digital token might not represent the definition of an instrument contract.

 

The response letter by SEC Chairman Jay Clayton:

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