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Ethereum [ETH] Ropsten Constantinople hard fork failure discussed by Foundation’s Hudson Jameson




Ethereum [ETH] Ropsten Constantinople hard fork failure discussed by Foundation's Hudson Jameson
Source: Unsplash

Hudson Jameson, a member of the Ethereum Foundation, recently spoke about the major issues faced during Ethereum Ropsten Testnet Constantinople hard fork, during a discussion with EthHub.

According to the latest announcement, the Constantinople hard fork is scheduled to take place on block #7,280,000 around February 27, 2019. The initial hard fork, which was scheduled to take place around January 16, 2019, was delayed due to issues with one of the five proposed Ethereum Improvement Protocols.

EIP 1283: the net gas metering for SSTORE without dirty maps had potential of enabling a Reentrancy attack on smart contract after Constantinople hard fork. This lead to the Foundation concluding that it would be best to postpone the upgrade until a solution is found.

Notably, this is not the first time Constantinople hit the pause button. The hard fork was initially scheduled to take place towards the end of 2018. However, the team encountered issues during the Ropsten Testnet hard fork launch. According to the post-mortem report of the Ropsten Constantinople Testnet, there was a bug identified in the Parity implementation of Ethereum. In addition, there were problems encountered with difference between Parity and Geth consensus.

On this, Hudson Jameson stated that the Testnet split because of the issues between Geth and Parity, and that the fork occurred during the weekend, which was contrary to their planning. He stated that they timed it incorrectly as block times “can be tricky to nail down.” This, in turn, resulted in a delay in fixing the Testnet.

According to him, one of the main reasons it failed was the lack of preparation. The absence of miners ready to mine the new chain was also one of the problems encountered during the fork, Hudson stated;

“The circumstances around it and if you just go to the really deepest level of why things are the way they are and why there are so many inefficiencies, it’s because a lot of us are very developer heavy, within the core developer ecosystem and we don’t have a lot of people with traditional or enterprise management experience”

He further stated:

“But then once you start to plan things, we have other tasks that we’re dealing with than our respective foundation or respective jobs. So that makes it more difficult for us to go in and have the right skill set to actually organize appropriate hard fork. We don’t have project management experience in a traditional sense.”

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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.


Bitcoin Dominance Index [BDI] falls short of Bletchley Ethereum Token Index [BETI] in 2019

Biraajmaan Tamuly



Bitcoin Dominance Index [BDI] outperformed by Index based on the Ethereum blockchain in 2019
Source: Pixabay

One of the key factors which is often used to represent or indicate the potential of a particular cryptocurrency’s growth is its market capitalization. When the market capitalization of a coin or token showcases a positive hike, it usually has a positive impact on that particular asset’s market.

According to LongHash, the Bitcoin Dominance Index [BDI], which is used to measure Bitcoin’s market cap had been the dominant index since the beginning of 2019. It was observed that the BDI improved from 53 percent to 58 percent over the past few weeks after the largest crypto-asset underwent multiple price hikes.

XRP, which dominated Bitcoin by 1,600% back in 2017 on cryptocurrency exchange Bittrex in 2017, was currently down by almost 50% against Bitcoin in 2019. Ethereum [ETH] fared better comparatively, but was still down by 14% against the Bitcoin.

However, the Bletchley Ethereum Token, a token built on top of Ethereum, seemed to have outperformed Bitcoin this year.

The Bletchley Ethereum Token Index [BETI] can be utilized by investors for their allocation to tokens placed on top of the Ethereum blockchain. However, it should be noted that Ethereum is not a part of the index as it is an independent entity. The BETI is a weighted index, which means that the tokens with dominant market caps will take up a larger part of the index and the re-balance will take place at the end of a particular month.

For example, Tron [TRX] and Binance Coin [BNB] currently take up more than half of the BETI’s Weighted Index. Since the launch of their DEX, BNB has enjoyed a lucrative year with multiple hikes bringing the coin to $30 from under $6. Tron also witnessed major growth in market cap as it was up by 40% in comparison to the US dollar.

However, it is important to note that the major tokens on the BETI’s weighted index have all launched their own blockchain, at press time. Hence, it can indicate that the dominance enjoyed by BETI over the BDI over the last few months could point to a situation where the Ethereum blockchain was preferred for the launch of various tokens.

Despite the aforementioned reason, it is safe to state that Bitcoin was not the only entity which dominated the crypto-space this year.

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