Already Today: Ethereum to Hold Two Crucial Hard Forks
Today, at block 7,280,000, Ethereum network members must vote for the two largest hard forks of cryptocurrency. Although ordinary users are unlikely to see changes, proposed improvements can seriously hit the miners’ profits.
The developers of Ethereum have scheduled two most important hard forks — Constantinople and St. Petersburg — on block 7,280,000, which is to be mined today. In particular, according to representatives of cryptocurrency, ordinary users will not even notice the changes, because they are aims to improve the technical features of the network.
But ETH miners have something to fear. The intended hard fork should reduce the reward for the block mining in the Ethereum network from 3 to 2 ETH. According to the developers, this will help reduce excessive inflation in the blockchain.
Ethereum nodes still have to vote for the hard fork. If the majority of the nodes refuse to support the changes, cryptocurrency could split into two coins, as it has already happened with Ethereum Classic. But most of the participants expressed support for the implementation of Constantinople and St. Petersburg.
At the beginning of 2019, the Ethereum developers put off the hard fork Constantinople. At that time the company ChainSecurity audited new ETH smart contracts and found critical vulnerabilities in their security system.