Ethereum’s Long Awaited Constantinople Upgrade — What to expect and what you need to know

What needs to be done?

The most notably impacted will be exchanges like Binance, Coinbase, Kraken etc. were needing to update their nodes as well as other crypto related services, such as, Trust Wallet, MetaMask & Etherscan. In essence, any full node operator needed to upgrade their software to the latest version. However, due to the delay, they will now need to do another upgrade to emergency versions of their Ethereum software clients or downgrade to the previous version.

With saying this, Ethereum tholders will not be required to do anything in preparation for the fork nor is there anything needed now that there is a delay. In addition, once the upgrade occurs, it most likely will not have any noticeable affects post implementation of the hard fork. It is worth pointing out that often there can be high price fluctuations during this change. Often investors will buy into a coin, prior to a hard fork, with the hope of receiving equal amounts of both new coins that come out the other end. This is often followed by a large drop as all coin holders will sell off their unwanted coin from the version they will not support. But since this is common knowledge there are also other investors who try and capitalize on these anticipated price fluctuations and implement a ‘sell high, buy low’ process, resulting in an overall, unstable fluctuation prior and post upgrade.

It is often recommended to keep transactions of this coin to a minimum to ensure users do not get caught up in any potential mishaps, bugs or vulnerabilities during the hard fork process, as shown with this latest delay.

There is no new date announced for this fork to be rescheduled to.

As shown above, forks are not always bad and, many would argue are needed in order to progress blockchain technology into the next era. When considering it as a simple upgrade of software it is seemingly quite a natural occurrence for any software related network. In fact, many users are quite excited to see how this new upgrade will improve the overall functionality of the Ethereum network, paving the way for future improvements and implementations of this technology throughout other industries.

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