Analysis in Chains - News and Views on Blockchain

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#149 - Ethereum Hard Fork on the Horizon

January 14, 2019

On Wednesday Ethereum will implement their Constantinople hard fork (Although it's Istanbul not Constantinople...).  This is the next phase in their road map to transition from an electricity intensive proof of work system to a proof of stake system.  But what does this mean, and what are the tradeoffs?  

 

Ethereum is the granddaddy of programmable blockchain, with a well established token economy and large community of miners. This move has been well planned and thought through but even so, a fundamental change in the Ethereum algorithm like this comes with a fair amount of risk.  Will miners give up on Ether as unprofitable, or will this bring the speed needed to spur adoption and establish Ethereum as the premier blockchain?

 

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