The largest cryptocurrency exchange, Binance has announced to support the upcoming Ethereum’s Constantinople/St. Petersburg Upgrade which is set to occur this week. This time, the upgrade is scheduled for the same block height 7,280, 000 and will be expected to take place tomorrow on Feb 28, as per the official Ethereum blog post.
Following the update, Binance early on Feb 27 announced to support for Constantinople/St. Petersburg Upgrade and informed to undertake the technical requirements to fellow Binancians who are holding ETH on its platform. The note from the announcement goes as follows;
Binance would like to again confirm support for the upcoming Ethereum Constantinople/St. Petersburg Upgrade. Please leave sufficient time for deposits to be processed in full prior to the block height shown below. We will handle all technical requirements involved for all users holding Ether in their Binance accounts.
Following the initial announcement by official Ethereum blog, published on Feb 22, this upgrade focuses on fixing the issues existed on various Ethereum test networks. However, the blog reads that the upgrade may fluctuate 1 or 2 days before or after the scheduled date due to the predictable nature of mining.
Ethereum's Constantinople and St. Petersburg network upgrades are less than a week away! Click this post for more info and what you need to do to prepare #Constantinople #StPetersburg #Ethereum https://t.co/ZMuHjgiGWj
— Ethereum (@ethereum) February 23, 2019
However, to note, the upgrade is basically combined with two names – Constantinople and St. Petersburg which is aimed to remove EIP 1283 security vulnerabilities from its all test networks. Since, the previous Constantinople upgrade got delayed on Jan 15, 2019, due to security issue – and this 2nd network upgrade will reverse the original Constantinople changes respectively. Additionally, the upcoming upgrade will be on the same block number as the previous one.
Ethereum at press time records the growth rate of 1.48 percent over the past 24 hours. Moreover, it sits comfortably on the second largest position on Coinmarketcap with average trading volume $14,700,472,972.
What’s your stake on possible Ethereum’s price move following the upcoming upgrade? Do you think it can surge further or disturb the market position? Share your opinion with us
Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com