Ethereum (ETH) Constantinopole Hardfork Explained – What is it and what should you do?

by birtanpublished on August 23, 2020

Hello duplicants and welcome to this video about the upcoming constantinople hard fork for a cerium today's 5th of January and I just figured it might be a good idea to basically cover it to see how it's gonna work and what's gonna happen as always thank you very much for

Watching this video and I hope it will be useful indeed first of all some basic information that you probably already know but I want to cover it anyway so first of all what is cerium it's a public open source Boxing Club from that

Feature smart contracts and has a native cryptocurrency running on it called ether now it was launched on 30th of July 2015 and it is now the second biggest cryptocurrency by market gap behind it corn obviously and in my

Opinion it was one of the main reason for 2017 cryptocurrency bull run because people were very excited about the smart contracts on the blockchain and also cryptocurrency cost all the ico so pretty much the main reason for it now

What is the hard fork hard fork is when a single cryptocurrency splits into two it occurs when a cryptocurrency an existing code is changed and that results involve out a new version the reason why Syria is being hard fork it's

Because the upgrade is supposed to fundamentally change how the serum production works and it's gonna mean all the system is gonna be updated at the same time so first of all let's get more information about the fork exactly what

It is not upcoming Constantinople hard fork basically has five main improvement proposals also known as IPEC improvement proposal I'm not gonna go for the numbers but they're pretty interesting and aim all the improvements is to

Soften the transition something for something that supposed to happen soon ish from from of work to more energy efficient proof of stake contents of algorithm was supposed to take place this year and beyond the test network in

A few months now another important aspect of this fall is a fact that it reduces the issuance of the serum by 50% from free theorem per block to to ECM per block many less cereal supply which could obviously

Possibly positively affect the price and it's gonna be less supply meaning they'll be demand increase demand for the existing tokens apart from that most updates are being behind-the-scenes basically a preparation for the future

And also some minor improvements that could and should make it even better in a long run now what exactly should you do if you hold any cereal now the constant constant in above work it's ethical life on 16 of January so in

About eleven to ten days but since the for Lake Fork date is decided on block number which is around seven million it might happen before that or even later so it's not a state that set in stone since this is a major and important fork

All major exchanges and wallets should support it so if you do how do you say probably actually have to do anything but you can double check if your exchange wallet actually supports it just to be safe a theory you will get

The new cerium and might keep the old one depending where you store it now if you do have private keys you will keep the old theorem as well but in practice the oldest theorem is absolutely worthless

Since nobody will actually support the network meaning you probably won't be able to even send it anywhere anybody and even if you could none of the exchanges were actually supported so you won't be able to sell it anywhere so in

Basically there that means there will not be any free money from the oldest theory so some basically the conclusion of what I just said from the perspective of the average user the fork won't make any

Significant difference for now and doesn't require any action it is difficult to predict how the price will be affected since the market is unpredictable however the decreased supply in a long

Run should increase the demand for the existent tokens and as a result potentially increase the price obviously not a financial advice just my personal opinion of the fork also prepares the network for prefer stake which should be

A major improvement for a cerium it also proves that development for a serum is still active and promising in the future I personally think aramis over-salt due to icy OS so you know of tokens obviously to sustain the

Development and it is one of the strongest if not the strongest choices now especially if we look at the future another prize already recovered a little bit obviously not from the all-time high but when you compare it to other

Cryptocurrencies which has been going sideways actually has been going up but I do think it's just the beginning of a pretty good future for me still no it does have some competition but it still D main a cryptocurrency and it is

Definitely the one that most of the projects are running on as you can see for example in top 100 on coal market cup majority of the projects are actually running in this area which is still a very good sign for it in general

As always thank you very much for watching I hope it was useful if you liked the video subscribe for more and do love you Cheers bye

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