In a recent turn of events, both Coinbase and Kraken, two of the major United States cryptocurrency exchanges, confirmed on their respective twitter posts on Monday, Jan. 14th 2019, to support the Ethereum’s (ETH) upcoming Constantinople hard fork network upgrade.
The two exchanges are the latest to join others namely, Binance, Huobi and OKEx who already announced to be supporting the event, which is planned to be triggered at Ethereum block 7,080,000, projected this week, i.e. Jan. 14th to Jan. 19th 2019.
Coinbase, in its official tweet, mentioned its full support for the Constantinople Ethereum (ETH) upgrade. Coinbase once the upgrade commences, will be temporarily pausing, ETH transactions across all of its trading platforms for security and technical purposes, until the Constantinople upgrade completes.
Kraken, who also confirmed its support for the Constantinople upgrade, expects it to be a non-contentious fork, which will not spark competing ETH chains, something that happened with Bitcoin Cash (BCH)’s own hard fork, last year in Nov. 2018, splitting the BCH blockchain into two, BCH-ABC & BCH-SV. Continuing, Kraken wrote that no new coins will be credited to ETH holders as the old chain is expected to quickly become obsolete.
The upcoming Constantinople upgrade is expected to smoothen the proof-of-work (PoW) to proof-of-stake (PoS) algorithm transition for Ethereum developers. The hard fork is a step further on the way to the network’s full transformation, which will come with major technical improvements.