• Crypto Lists
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Altcoin
  • Advertise With Us
  • Join our Telegram Community
Newsletter
ItsBlockchain
  • Bitcoin
    Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

    Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

    Bitcoin ETFs could have the same result as CME group futures launch in 2017

    Bitcoin ETFs could have the same result as CME group futures launch in 2017

    featured image

    How Bitcoin can be hacked?

    keep bitcoin safe

    Keep Your Bitcoins Safe: All You Need to Know About Crypto-Cyberthreats

    featured image

    Bitcoin IRA – Everything You Need to Know

    A trillion dollar tsunami is about to hit Bitcoin

    A trillion dollar tsunami is about to hit Bitcoin

    featured image

    Why Bitcoin will always be the number one cryptocurrency? Explained

    Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

    Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

    On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

    On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

    Trending Tags

    • Crypto Gems
    • NFT
    • DEFI
    • Crypto Lists
    • Altcoin
    • Crypto Market
    • Guide
    • IBC Capital
    No Result
    View All Result
    • Bitcoin
      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

      featured image

      How Bitcoin can be hacked?

      keep bitcoin safe

      Keep Your Bitcoins Safe: All You Need to Know About Crypto-Cyberthreats

      featured image

      Bitcoin IRA – Everything You Need to Know

      A trillion dollar tsunami is about to hit Bitcoin

      A trillion dollar tsunami is about to hit Bitcoin

      featured image

      Why Bitcoin will always be the number one cryptocurrency? Explained

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

      Trending Tags

      • Crypto Gems
      • NFT
      • DEFI
      • Crypto Lists
      • Altcoin
      • Crypto Market
      • Guide
      • IBC Capital
      No Result
      View All Result
      ItsBlockchain
      No Result
      View All Result
      Home ethereum

      Ethereum Hard Forks; Three hardforks happening on the ethereum network

      Hitesh Malviya by Hitesh Malviya
      January 8, 2019
      in ethereum
      0 0
      0
      Ethereum Hard Forks
      50
      SHARES
      225
      VIEWS
      Share on FacebookShare on Twitter

      A hardfork is an important technical change in any cryptocurrency or blockchain network which is generally carried out for improvement of code base or network.

      Hard forks are always been in limelight since the inception of Cryptocurrencies. In last few years we saw a couple of hard forks coming out from different cryptocurrencies including Bitcoin and ethereum. Bitcoin cash and ethereum classic are the two most popular hard forks happened in the history book of cryptocurrency so far. Both these hardforks was the result of internal community dispute, so few rebels decided to create their own cryptocurrency by splitting out from the main chain.

      From investing point of view, Hard fork is often considered as Huge catalyst for growth.

      Ethereum 2.0

      Ethereum is blockchain platform which is being used to create dapps and issue tokens widely. Its native coin is called Ethereum which is #2 cryptocurrency according to Coinmarketcap data. Ethereum was initially launched as a Proof of work coin, where mining is required to issue coins and validate transactions, Proof of work is the same consensus algorithm being used in Bitcoin as well. Mining has became costly because of increasing cost of electricity, also proof of work coins are slow in nature when it comes to transaction speed. For a mass adoption, transaction speed is the way to look forward which is not supported by Proof of work consensus. Hence Ethereum decided to transit into proof of stake consensus, which is fast, easy and environment friendly. Ethereum 2.0 Vision’s is largely depended on Proof of stake and sharding. According to Ethereum updated roadmap, They will transit completely into Proof of stake in 2019.

      Ethereum Updated Roadmap

      Proof of work vs Proof of stake

      The upcoming hardfork is the preparation for this transition into proof of stake. The hardfork is named Constantinople.

      Along with the Constantinople hard fork, there are three more hardforks happening on the ethereum network in this month.  

      • Classic Vision

        The Classic Vision hardfork is the Ethereum Classic hardfork. The hardfork came about after a breach of security that the original Ethereum network had. Majority of the Ethereum community wanted to erase all traces of the breach, while a very small part wanted to address the issue.

        In an attempt to erase the security breach, which brought up questions about the network’s viability, the Classic Vision hardfork took place. And many people went along with it. It is essentially a creation of a separate chain without the history of a security breach.

        The Classic Vision hardfork is expected to take place on 11th January. And for every ETH, users will get 3 ETCV. (3:1)
      • Ethereum Nowa

        Ethereum Nowa is the second most talked about hardfork on the Ethereum Network. The only change that Ethereum Nowa hardfork is implementing except for the proof-of-work to proof-of-stake protocol shift, is immutability.

        The entire idea behind the Ethereum Nowa hardfork is to keep the spirit of the blockchain intact and make sure that it is not tampered with.

        The Ethereum Nowa hardfork is scheduled to take place on the 12 January. And the ratio of coins being awarded is going to be in the ratio 1 ETH:1 ETN.  
      • Constantinople Fork

        Constantinople Fork is one of the most awaited hardforks of Ethereum. The discussion for Ethereum Nowa started back in August 2018 and the launch has been postponed multiple times since.

      Constantinople Fork has proposed 5 changes or Ethereum Improvement Proposals (EIPs). And is a network-wide upgrade for the Ethereum Network. The five changes that the Ethereum Nowa is implementing in their hardfork are; efficient information processing, optimisation of code execution, more affordable data storage, promote scalability and reduction of mining reward.

      Another big change that the Constantinople Fork is implementing is the change from Proof-of-work protocol to proof-of-stake.

      The Constantinople Fork is set to happen on the 16 Jan. This fork will come at block 7,080,000, it will reduce the block reward from 3 eth to 2 eth. Miners had already started selling their rigs because of shrinking price of ethereum lately, It would be interesting to see how miners will react after this hard fork update. As Mining will be not longer required after full transition into Proof of stake, Miners might have already started looking for other options to keep running their mining operations.

      Must Read Ethereum Dethrones Ripple

      Recent surge in Price

      Etherum is on the bull ride since after the Hardfork is announced by the ethereum foundation. According to coinmarketcap, Ethereum was trading at 84$ on 7 December 2018, Since then it has grown over 90% in value. At press time, Ethereum was trading at 146$. According to Speculation, Ethereum will likely to touch 180$ before the hard fork.

      Community Reaction

      Crypto community is overall bullish on ethereum price action. They are targeting a price level of 180$ before the hard fork, Charts are also looking in the favour.

      Do you think $ETH can decouple and rise even if Bitcoin stays at this price or goes lower?? pic.twitter.com/jvbK5wVOHO

      — Luke Martin (@VentureCoinist) January 2, 2019
      https://twitter.com/DarioDunskus/status/1080387224523493376

      $ETH I usually straight up hate trading charts under 30M so here’s what we’re looking at in slightly bigger picture pic.twitter.com/BKdBJRjzoz

      — The Blockchain Bartender (@CryptoBarTalk) January 2, 2019
      Good Read ICE Announces Bakkt Partners
      Hitesh Malviya

      Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
      Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.

      IBC-Transparent-Logo-(1)

      Subscribe To Our Newsletter

      Join our mailing list to receive Cryptocurrency investing and trading recommendations to your mailbox.

      You have Successfully Subscribed!

      Tags: ETHeth fork dateeth hard forketh hard fork dateether forkEthereum 2.0ethereum forkethereum forksethereum hard forkethereum hardforketherium forketherium hard forketherium historyetherum fork.fork historyhistory of ethereum
      Share39Tweet5Share2

      Subscribe to get notified on latest posts.

      Unsubscribe

      Related Posts

      The Flippening begins! On-chain metrics show peak accumulation and Ethereum burn rate is at 7.7 ETH per minute

      The Flippening begins! On-chain metrics show peak accumulation and Ethereum burn rate is at 7.7 ETH per minute

      by Karthik Guttha
      September 2, 2021
      0

      The price of Ethereum shot up by more than 7% today, and at the time of writing this article, it...

      Cofounders of Ethereum : The mystery revealed now

      Cofounders of Ethereum : The mystery revealed now

      by om malviya
      May 4, 2021
      0

      In this article we will discuss cofounders of ethereum, and where are they now? Ethereum is without any doubt one...

      A breakdown of Ethereum 2.0 Serenity roadmap

      A breakdown of Ethereum 2.0 Serenity roadmap

      by Hitesh Malviya
      February 17, 2020
      2

      In July 2015, Ethereum was born. Launched by Vitalik Buterin, this smart contract platform is now the second-largest cryptocurrency by...

      Blockchain and internet combine for future

      Blockchain Technology and Internet Of Things to Join Hands for the Better Future!

      by Hitesh Malviya
      February 11, 2019
      0

      Blockchain Technology and Internet of Things are two words which would catch your attention no matter which part of the...

      Altcoins Bleeding

      Why Are The Altcoins Bleeding?

      by Ramaa Mohan
      September 18, 2018
      0

      The cryptocurrency market this month has touched lows that it never has before. After a quarter of high prices and...

      Load More

      About Us

      We curate the best cryptocurrency projects with the intention of adding value for investors through the process of selecting, organizing, and looking after different projects available in the cryptocurrency market.

      • Trending
      • Comments
      • Latest
      featured image

      List of leading partners of Ripple, and How they use XRP?

      February 2, 2021
      WTF is an xNFT? And Why Should You Care

      WTF is an xNFT? And Why Should You Care

      June 22, 2022
      featured image

      List of ChainLink Partnerships which skyrocketed the growth of LINK cryptocurrency

      February 2, 2021
      Pi Network: Scam or Legit?

      Pi Network: Scam or Legit?

      April 30, 2021
      Top 15 NFT influencers on Twitter you should follow right now

      Top 15 NFT influencers on Twitter you should follow right now

      September 28, 2021
      crypto traders 2021

      Top 5 Crypto traders to follow on Twitter in 2021

      May 29, 2021
      Top 10 DAOs to Join as a member in 2022

      Top 10 DAOs to Join as a member in 2022

      December 17, 2021
      MetaOasis: The Next-Gen Game Publishing Platform You Should Care About

      MetaOasis: The Next-Gen Game Publishing Platform You Should Care About

      June 27, 2022
      WTF is an xNFT? And Why Should You Care

      WTF is an xNFT? And Why Should You Care

      June 22, 2022
      Prime Stake and Oreol Staking – big conference in Denver

      Prime Stake and Oreol Staking – big conference in Denver

      June 15, 2022
      Magic Square Integrates With deBridge

      Magic Square Integrates With deBridge

      May 24, 2022
      DCAProfit Releases A New DCA Calculator Supporting Dozens Cryptocurrencies And DJIA Performance Comparison

      DCAProfit Releases A New DCA Calculator Supporting Dozens Cryptocurrencies And DJIA Performance Comparison

      May 19, 2022
      The Sandbox Game Beginner Guide: How to buy land in Sandbox Metaverse

      The Sandbox Game Beginner Guide: How to buy land in Sandbox Metaverse

      May 18, 2022
      Terra Protocol (LUNA) Collapse Resembles 08’ Financial Crisis, Caused by Lehman Brothers

      Terra Protocol (LUNA) Collapse Resembles 08’ Financial Crisis, Caused by Lehman Brothers

      June 27, 2022
      • Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

        Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

        29551 shares
        Share 11809 Tweet 7381
      • A Mysterious Bitcoin Whale who sold 3000 Bitcoins at 58K$, Bought back 3521 Bitcoins in the last three days

        9904 shares
        Share 3960 Tweet 2475
      • Top 10 Low market cap altcoins to invest in 2021

        7222 shares
        Share 2887 Tweet 1805
      • Top 10 NFT Crypto Projects You Should Know

        7223 shares
        Share 2602 Tweet 1627
      • List of leading partners of Ripple, and How they use XRP?

        5435 shares
        Share 2174 Tweet 1359
      ItsBlockchain

      We are India’s first and oldest Blockchain & Cryptocurrency publication platform started in 2016. We are a one-stop destination for technical analysis, cryptocurrency recommendations, and Blockchain technology resources.

      Buying Guides

      • Buy Bitcoins in India
      • Buy Bitcoins in China
      • Buy bitcoins in Russia
      • Buy Bitcoins in Japan
      • Buy Bitcoins in Turkey

      Important Links

      • Home
      • About US
      • Privacy Policy
      • Promote Your ICO
      • Submit post

      Follow Us

      Contact us

      support@itsblockchain.com

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      No Result
      View All Result
      • Bitcoin
      • Crypto Gems
      • NFT
      • DEFI
      • Crypto Lists
      • Altcoin
      • Crypto Market
      • Guide
      • IBC Capital

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      Login to your account below

      Forgotten Password?

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.