Binance to Support Ethereum’s Upcoming Constantinople Hard Fork

Francisco Memoria

Leading cryptocurrency exchange Binance, which often has trading volumes of over $1 billion per day, has recently announced that it’s set to support Ethereum’s upcoming Constantinople hard fork, which brings in five different Ethereum Improvement Proposals (EIP).

The exchange’s announcement notes that the fork is set to occur at block height 7,080,000, which is estimated to be between the 14 and 18 of this month. Binance is set to “handle all technical requirements” involved for users who hold ether on its platform.

The decision to move forward with the Constantinople hard fork was made by  Ethereum’s developers during a bi-weekly meeting held on December 7. The fork, as mentioned, brings in five EIPs, which will permanently alter ETH’s blockchain with new backwards-incompatible upgrades.

This means that Ethereum’s nodes either update together, or end up running a separate blockchain entity, forking the cryptocurrency. Ethereum has seen this happen in the past, when Ethereum Classic (ETC) was created. While a chain split seems unlikely this time, it’s still a possibility.

In case there are any chain splits or airdrops during the Constantinople hard fork period, Binance has asked projects to contact them for further discussion, presumably to look into whether it’ll list the tokens, and how it can safely give its users the airdropped tokens.

According to developers, this new hard fork won’t feature a lot of changes for end users, as it’s a “maintenance and optimization upgrade.” The fork is notably changing Ethereum’s economic policy and delaying its difficulty bomb, which will activate its “ice age.”

At press time, ETH is trading at $148 after falling 2.8% in the last 24 hours. The cryptocurrency has seen its price surge over 80% since it hit an $82 low in December