support plan.
This week, Binance, the leading cryptocurrency exchange, announced on its official website, as well as on Twitter, that it will support the upcoming Ethereum Hard Fork in Constantinople. As noted in the official statement of Binance, the exchange guarantees to its users that they will handle all the “technical requirements” for ETH owners in accounts.
Hard Fork Ethereum (ETH) is scheduled for January 16th. Excitement around the update led to a significant increase in the price of ETH over the last 2 weeks. The exchange reported that a block height of 7,080,000 units was planned for the fork, which is estimated to occur between January 14, 2019 and January 18, 2019. Binance also asked its users in case of any breaks or chain ups during close exchanges to contact them to discuss the current situation.
During the meeting on December 7, five EIPs were presented, which will permanently replace the blockchain ETH. According to experts, this may mean that the Ethereum nodes are either updated together, or they launch a separate blockchain entity, forking cryptocurrency. A similar event has already occurred during the existence of Ethereum, when Ethereum Classic appeared. The hacker attack in 2016, when $ 50 million was stolen from the platform, led to a split and the creation of two parallel networks.
Although this time it seems unlikely that a chain break will occur, it is still possible. The developers Ethereum claims that the new hardfork will not contain many changes for end users, as this is an "update for maintenance and optimization."
Due to the upcoming hard forks, which could lead to a significant improvement in the network, interest in ETH re-emerged. Ethereum again ranked second in terms of market capitalization in the CoinMarketCap ranking. According to financial analysts, hardfork increases the demand for Ethereum tokens.
The price of ETH cryptocurrency increased by more than 80% compared with the December lows of $ 82. ETH is currently valued at $ 151, showing an increase of 0.89% in the last 24 hours.
Meanwhile, some people mistakenly believe that cryptocurrency forks always increase their value. Sometimes the opposite happens, and hard plugs lead to a slight drop in cryptocurrency prices. Let's see how it will be this time!
