Jan 3, 2019 10:23 UTC
Jan 3, 2019 at 10:23 UTC
Binance Confirms Their Support for the Ethereum (ETH) Constantinople Hard Fork
The much-anticipated event of Ethereum Network’s Constantinople Hard Fork scheduled on 16th January is just a couple of weeks away and Binance has already confirmed its support for the same. The buzz around the fork had already given a push to the Ethereum market price and overall market capitalization.
Owing to the positive and bullish sentiment of people around the Fork, Ethereum made the most of the opportunity by regaining its second spot in terms of market cap and displacing Ripple from the position.
However, depending on the target block height of 7,080,000, it could happen a few hours before or after the scheduled date. The increasing size of a node has been growing concern for the community and the scheduled Fork might come to the rescue of the people.
Binance Asks People For Processing Time
Binance, one of the biggest crypto exchanges has already announced its support for the due Constantinople Hard Fork. It has asked its users holding ETH to give them some time to process the deposits and reach the block height of 7,080,000. They assured the traders that all the technical aspect related to the fork will be taken care by the Exchange itself.
Hard Fork Block Height: 7,080,000
Estimated Time: 14/01/2019- 18/01/2019
The hard-fork is aimed at bringing in the consensus to the Ethereum network, but Binance is not ruling out the chances where different community members apart from the developers wish to upgrade new changes to the network, increasing the probability of further hard-forks. The Exchange has added the following piece of information on its platform if any such case arrives,
Should there be any other hard forks or airdrops during the Constantinople hard fork period, we invite these respective project teams to contact us at [email protected] for further discussion.
Ethereum network has been plagued by the ever-increasing size, making it difficult for individuals and peers on the network. The scheduled hard-fork would hopefully bring in some relief for the community.
People would be hoping that the Creation of Fork would not lead to complications as it did in case of the Bitcoin Cash network.