The fifth major upgrade of Ethereum called Constantinople, is expected to be activated Wednesday, January 16, and it says the head of public relations Ethereum Foundation Hudson Jameson, in anticipation of this event among developers is dominated by «cautious optimism». This writes CoinDesk.
Nature hardforce implies that for the normal functioning of the network, the updated software should set all the nodes. This process, however, is associated with certain risks – for example, if a large enough number of users will not accept the new rules, it may lead to a separation of the network into two separate chains. That is what happened in the summer of 2016, when after the collapse of The Ethereum DAO, the developers took the decision to conduct the controversial hard forks. Some users, however, refused his support, with the result that there was a project Ethereum Classic.
However, the release Manager Parity Africa Choedon believes that this time the risk of partitioning the network is quite low, as the leading mining pools the majority have supported the upcoming upgrade.
«The miners are ready, he said. Only miners can split the chain.»
Despite the fact that special resource that tracks the level of adoption of Constantinople, says that by Saturday, January 12, the figure stands at just over 16%, its Creator and head of the mining pool Ethermine Peter Prather stated that these data cannot be considered accurate and that in fact, the majority of participants in the ecosystem have already taken the upgrade.
«We expect that the majority of nod, which hasn’t had the update, to time the fork will do it,» he says.
Hardwork Constantinople is part of a larger upgrade of Ethereum called Metropolis and plan on switching to algorithm Proof-of-Stake, including a total of five proposals to improve the network (EIP). Most of them are General improvements that were accepted by a large part of the development community, however, there is also one aspect which has caused some controversy.
We are talking about the delay of the so-called «bomb the complexity of» algorithm, by which the complexity of mining Ethereum will eventually have to rise. Because of the planned upgrade of the complexity of mining decreases, it also includes reducing rewards miners with 3 ETH 2 ETH to the found block. This caused some dissatisfaction on the part of miners, but, insists Peter Pratcher leading pools supported this change.
«We expect that the upgrade will happen without any problems,» he said.
In addition to the risk of partitioning the network, harborcam has other system-wide risks, such as, for example, bugs in code, or incorrect algorithms, which can lead to unexpected difficulties. Nevertheless, developers are confident that in the case of Constantinople, these risks are minimal, since over the past few months, they have performed extensive testing, trying to identify possible vulnerabilities.
Thus, according to jameson, they have access to software for testing and monitoring of potential problems, which tracks the state of the network before, during and after hardforce.
«We look forward to implementation of these changes to the Ethereum Protocol, but in the foreground for us is the safety and stability of the network,» he said.
Other upgrades include Constantinople EIP-1283, by which it will be possible to reduce the gas consumption for smart contracts, and the new code combinations will be more cost effective.
Another improvement called EIP-1014 also known as Skinny CREATE2 and is expected to open the way towards new types of solutions for scaling the second layer, for example, the channels status.
«EIP-1014 makes it possible to create new types of channel state, which will reduce or even completely costs oncein-deployment [of smart contracts]. This will improve scaling and reduce the user cost,» says the developer of Ethereum Nick Johnson.
Meanwhile, his colleague from the Turbo Geth Alex Akhunov also notes that the EIP-1014 also can positively influence other future upgrades of the network, such as the potential implementation of rent for storage, or even lead to the emergence of new properties of smart contracts.
Two upgrade Constantinople – EIP-145 and EIP-1052 – aimed at facilitating the development of smart contracts and the optimization of certain operations within the code base Ethereum.
Returning to the above mentioned delay in bomb difficulty, it is included in the EIP-1234, sponsored by Africa Choedon. Despite the fact that the proposal actually solves the problem of the increasing complexity of mining, which at some stage may become so high that the confirmation of transactions will take too long time, it has the reverse side of the coin, endangering miners operating activities of which directly depends on the size of awards.
«Overall I can’t say that we are waiting with open arms Constantinople. This upgrade will make mining unprofitable for many miners that will have a negative impact on the security of the network,» says Peter Pratcher.
As an example of problems that can occur if part of the miners will be forced to leave the game, he cited the recent attack 51% on Ethereum Classic.
Brian Ventura, the operator of a small mining pool Crypto Atlantic, also shares this concern:
«Implementation of EIP-1234 in Constantinople will immediately put pressure on the economy of mining», he said.
Due to the upcoming reduction in the reward for found block of a miners rely on another potential future upgrade called ProgPoW. If this proposal is accepted, the production of ETH in the future will be exclusively on a more traditional hardware like graphics cards, limiting the influence of ASIC miners. However, its implementation in Constantinople at this stage is unlikely.
Anyway, a few days before the hard forks among developers, you can also notice a slight anxiety.
«I’m a little nervous of Constantinople, because it is always difficult to predict how high the probability that something will go wrong,» says Alex Akhunov.
According to him, the worst case scenario there’s a problem with the new algorithm of complexity that would jeopardize the security of the network. Other developers also expressed concerns about possible problems with the algorithm of consensus. So, Taylor Monaghan of MyCrypto said that her greatest concern is that the upcoming capacity upgrade can use the scammers, who want to fraudulently take possession of the coins of other users.
At the same time, Taylor Monaghan admits that Constantinople is the right step in the development of Ethereum and that, despite all the pitfalls, the upgrade will bring many benefits, which many now do not even suspect.