Cumberland Research Says Ethereum’s Constantinople Hard Fork Drew Unnecessary Attention
A recent report by crypto trading firm Cumberland Research shows that the crypto ecosystem is too focused on Ethereum’s Constantinople hard fork.
Cumberland DRW LLC is a global leader in crypto assets. They provide the access that financial institutions and high net worth individuals need to capitalize on opportunities in the crypto space while working to ensure that the ecosystem continues to grow and evolve in a responsible, sustainable way. They provide a streamlined and efficient process with physical, electronic, and procedural safeguards that keep information safe from unauthorized access or use.
The new update has Ethereum Improvement Proposals (EIPs) which describe standards for the Ethereum platform, including core protocol specifications, client APIs, and contract standards.
Earlier this month, Bobby Cho, global head of trading at Cumberland, said that the cryptocurrency market is now learning from its mistakes. Back when cryptocurrencies were breaking records, miners, as well as sellers, were holding on to their coins for making more profit. But when the market was suffering losses, these people were selling them at the recovery points. Now, these miners are selling cryptocurrencies in regular sales.
Constantinople is expected to pave the way for the much-anticipated Casper update. This improvement will switch Ethereum from a proof-of-work model to proof-of-stake. If the Ethereum network can successfully scale and a developer manages to create a must-have decentralized application on the network, the demand for Ether should also increase since the coins are used to power the applications and smart contracts hosted on the blockchain.
The hard fork is expected to happen late this month. The new deadline comes in the wake of an unexpected delay over a discovered security vulnerability allowing a reentrancy attack, which has been detected in Constantinople’s code by smart contract audit firm ChainSecurity.