Ethereum Details Constantinople and Casper Ahead of Major Update

Ethereum's core developers held another meeting, Aug. 31, to further discuss the world's second-largest cryptocurrency network's four-stage development plan-including additional details on the Constantinople hard fork and Casper.

Not to name names, but a friend of mine, has been ignoring an update on their MacBook Pro for probably two years.

Thankfully, Ethereum developers don't have the same mindset and are currently developing the second major update to its infrastructure.

The update EIP 1234 was met with mixed emotions, as miners fear reducing Ethereum cryptocurrency from 3 ETH to 2 ETH could lead to 1 ETH, a deviation that would not only change the price of ether and increase its fiat value but potentially force miners to earn less income for their increased work.

It's possible that miners may turn to mining other cryptocurrencies, especially after reckoning with high-efficiency bitcoin monitor ASIC.Ethereum Improvement Protocols Enlists Casper.

Decreasing the number of blocks and increasing mining time eventually renders the network obsolete.

Should miners continue to work within the old blockchain, a software "Difficulty bomb" has been developed for the matrix.

Ethereum Improvement Protocols has enlisted Vlad Zmfir's proof-of-stake protocol, Casper, a "Correct-by-construction" blockchain consensus that validates usable blocks, rewards validators and punishes ill-intentioned validators by immediately cutting a percentage of their stake.

"We have a strong user base of investors who want to reduce as much as possible but we have miners that said they'd agree to a small reduction, and that's why I think we should go with 2 ETH per block."

These measures have been taken preemptively should Casper fail to motivate miners from putting the decentralized system at risk in exchange for private gain.