According to a Twitter confirmation Peter Szilagyi, the leading figure at Ethereum, along with core developers, initially aimed to roll out the system-wide Constantinople upgrade on January 17, but has now shifted the timeline to the end of February. His tweet confirmed that the upgrade, intended for block 7,280,000, is now poised to activate on February 27, 2019. ETH Exploring Constantinople and its Impact on Transaction Costs
Incorporating various EIPs, Constantinople is designed to facilitate Ethereum's shift from a proof-of-work to a proof-of-stake protocol, renowned for its enhanced energy efficiency. Before Constantinople, Ethereum's storage operations cost about 5,000 gas, much higher than the 2,300 gas associated with contract calls using send or transfer functions.
Post-upgrade, particular client storage operations might see costs plummet to as low as 200 gas. Initially slated for a November 2018 release, the upgrade faced delays after finding faults in the Ropsten testnet protocol.
The latest postponement was essential, following a review by a smart contract firm that flagged potential vulnerabilities in the impending upgrade. Their analysis indicated that implementing EIP 1283 could open the door for hackers to exploit certain network vulnerabilities.
The Potential Reentrancy Attack
The identified threat, termed the 'reentrancy attack,' could allow malicious actors to repeatedly exploit network functions without alerting users, essentially permitting ongoing theft undetected. report from ChainSecurity Upon realizing this vulnerability, both Ethereum developers and network client developers opted to temporarily halt the upgrade to explore solutions. A meeting was organized for January 18, including key contributors like Ethereum's co-creator Vitalik Buterin, Nick Johnson, and Hudson Jameson. Ethereum In addition to announcing the updated rollout date, it has been clarified that the flawed EIP 1283 highlighted by ChainSecurity will not be part of Constantinople's launch. Instead, developers will conduct further tests and modifications, aiming to integrate it in a future hard fork.
EIP 1283 was among five proposals slated for Constantinople. Now, the upgrade will occur in two phases. The first will encompass all five EIPs, including the defective EIP 1283. The subsequent iteration will see EIP 1283 specifically removed.
Rollout Postponed
Peter Szilagyi, the mastermind behind this bifurcated approach, emphasized that it ensures existing networks with the full Constantinople suite can rectify the issues without reversing any blocks. developer’s call Szilagyi voiced, 'My proposal is to define two hard forks: one maintaining the current Constantinople and the other acting solely to disable this feature.'
The New Upgrade Strategy
Several strategies were suggested to secure the next hard fork, with one proposing a dual-fork strategy for network-wide compliance. This is essential since some miners were on a rogue Constantinople chain needing proper updates.
Renaming the fork was also floated but didn't gain traction. Developers prioritized substantial work over nomenclature.
Based in the UK, Jimmy has been closely monitoring blockchain growth and believes in its promise to restructure the financial sector democratically.
Stay updated with Jimmy on Twitter: @adejimi or reach him at Jimmy@level-up-casino-app.com.
Ethereum's staking has been surging, yet some analysts foresee that BinoFi ($BINO) could surpass Ethereum's performance by 2025.
Reasons to invest in Ethereum (ETH), Aave (AAVE), and Rexas Finance (RXS) this week.
The Dojima Network lays the groundwork for a seamless Web3 environment.
1Comment
Become a METAWIN Millionaire and win $600,000 in USDC: Participate Now!