Ethereum has been earmarked by many cryptocurrency experts as heading for a massive spike in value early in 2019 as its Constantinople hard fork approaches.
Ethereum which recently lost its spot as number 1 altcoin by market cap to Ripple has developers hoping that its hard fork scheduled for January will make the transition from Proof of Work (PoW) to Proof of Stake (PoS) more effective and boost ETH’s market value moving into the new year.
In terms of development, Ethereum is lagging, while other competitors such as Ethereum Classic (ETC), Cardano (ADA), Lisk (LSK) and Quantum (QTUM) are progressing with far more intent. Despite “the sky falling” as some commentators have maintained, Joe Lubin, Ethereum co-founder, asserts that Ethereum protocol development is accelerating. He suggests that this will result in “the continued maturation of the token economy, which will see many exciting consumer utility tokens and tokenized security launched in the new year.”
The common view is that ETH is now well positioned for a price boost prior to the release of Constantinople, not only regaining its position as the leading altcoin platform. Clearly, though the Ethereum team is hoping for a more successful outcome than the last hard fork, Bitcoin Cash, leading to heavy market losses and a hash rate war.
Constantinople is scheduled for the middle of January 2019 and designed to increase the speed and efficiency of the Ethereum network, as well as making it more economically viable than the current status quo. Ethereum Classic (ETC) will still remain in play after the fork.
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