Ethereum’s Constantinople hard fork, which has suffered frequent setbacks, has finally been completed. The upgrade was executed at 7:52 PM on February 28 at block 7,280,000. The fork proceeded uneventfully, and no technical issues or divisions within the mining community have been reported.
Although the phrase “hard fork” might evoke a blockchain split, such as the event that produced Ethereum Classic in 2016, most hard forks do not actually have that outcome. Since Constantinople’s features were largely uncontested, the update went smoothly as miners activated the new Ethereum software and its features in unison.
Lower Mining Rewards
The main feature that Constantinople introduces is a reduction of block rewards. Ethereum miners will now receive a payout of 2 ETH for each block that they mine; previously, the reward was 3 ETH per block. Although this is something of a sacrifice for miners, this course of action is relatively conservative, and it gained majority support from devs last August.
Ethereum’s reduced block…