After the Constantinople upgrade, there will be a new blockchain, there won’t be a “classic” blockchain, as was the case with Bitcoin Cash. In summary, the Constantinople hard fork is not in dispute, and it’s the only purpose is to improve the project. So what do common users and Ethereum miners need to do before the hard fork? The Ethereum network will be undergoing a scheduled upgrade at block number 7,280,000, on February 28, 2019.
Getting Ready For Constantinople
In the course of Constantinople, active miners should switch to the new blockchain, which will be a continuation of the current Ethereum blockchain. All smart contracts will also be migrated from the old Ether to the new one. Since the original developers planned to implement substantial changes to the project’s code, they opted for a hard fork.
There is still a chance that a new coin will be created after Constantinople. This scenario is unlikely, but if major mining pools decide to go their own way, they can mine their coin on their own blockchain.
How Will Constantinople Affect ERC-20 Tokens?
ERC-20 along with smart contracts will be transferred to the new blockchain. Common users don’t have to do anything. Moreover, after the upgrade, they will pay less gas for token transactions.
What Should Miners Do?
What About ASIC Mining?
ASIC resistance on the Ethereum network has been discussed many times in the Ethereum Foundation, but it wasn’t included in the Constantinople upgrade.
What Will Happen To Coins On Exchanges?
Coins on exchanges will be fine – major trading platforms are also ready for the hard fork. Remember that you should avoid storing large sums of cryptocurrency on exchanges for security reasons.
Beware Of Scams!
There are a lot of rumors about the airdrop of Ethereum Nova and other similar projects. These are just phishing attacks aimed at getting a hold of your private keys. During the Constantinople activation all you need to do is to wait, so be careful and avoid suspicious links.