CEX.IO Confirms Support for Ethereum's Constantinople Fork

CEX.IO, a London-based cryptocurrency exchange, announced this Tuesday that it will support the Constantinople hard fork of Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term. The firm is currently making all the required technical adjustments to enable support for the Constantinople upgrade.

The fork, which has been a part of the Ethereum roadmap for a long time, is set to occur at the decided block height of 7,080,000. This is expected to be achieved between January 14 and January 18, 2019.

Just before the upgrade, CEX.IO will stop all ETH deposits and withdrawals. This is so the exchange can secure its customer’s funds. After the upgrade is completed, all ETH holders will be able to resume trading their coins on the exchange as per usual.

As Finance Magnates previously reported, Constantinople is one of the highly-anticipated hard forks of Ethereum. It is a system-wide upgrade that was enacted at the end of August last year.

The fork will implement five different Ethereum Improvement Proposals (EIPs) which will permanently alter the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term with a host of new backward-incompatible upgrades. Basically, this means that the network of computers that run Ethereum software will need to either update or continue running independently.

Commenting on the announcement, Elaine Neal, the Chief Product Officer of CEX.IO said: “With more than 2.7 million users, CEX.IO is working on the reliable products and services to maintain the trust of millions of our clients across the globe. Each and every product should bring the highest value to the users by providing simple and effective solutions for their financial needs.”

Exchanges pledge support for Constantinople hard fork

Should the chain split, CEX.IO has confirmed that all of its users with ETH on their balances at the time of the fork, will receive new coins. In addition to CEX.IO, other leading cryptocurrency exchanges such as Bitbox, OKEx, Huobi Global and Binance have all pledged their support for the Constantinople hard fork.