Ethereum Classic originated in the summer of 2016. Then the hackers broke into the global DAO smart contract and transferred to your account more than $ 50 million in ETH. Some of the users were against the rollback of the blockchain and decided to continue the chain without human intervention. Now ETC would hold their own fork and do it tomorrow.
Fork The Ethereum Classic. Details
Another hardwork ETC will be on the block under number 5 900 000. He was waiting for tomorrow — may 29. Branching will be demonstrations of caring about manners. The developers eliminate the so-called “bomb of complexity”, which was originally laid down in the Ethereum. Due to this, the difficulty of mining will not grow, but because the production ETC will continue to remain profitable.
Why you need a “bomb of complexity”
The feature appeared in the Ethereum to further the transition to Proof of Stake. It turns out that some kind of self-motivation — mining became less profitable, so developers had to work on the transition to the “proof of share ownership”. Read more about the algorithms read in this article.
$ETC is hard forking in May to remove the difficulty bomb.https://t.co/RtlKpJ9yrF
For those reading along: There’s no “free coins” with this fork. This is a network improvement.
— ETC Cooperative (@ETCCooperative) March 14, 2018
Why Ethereum Classic right fork
The network plans to continue to work on Proof of Work, which is possible with the participation of the miners. Normal Ethereum will bring together miners and stakanov, therefore, about a possible fork not even remember.
Similar already happened in January 2017. ETC then community decided to hold a fork of the blockchain for the deferral of a solution to the problem.
Will there be new coins
Fork will be a significant improvement to the network. The result of the branch there are no new coins — all will remain the same. The hand also can not wait.
It is important not to forget to update the clients. Geth need version 5.0.0, and Parity — 1.9.3. The developers ask not to postpone all at the last moment.
Only 14,190 Blocks Left Until ECIP-1041 HardFork Update
Don’t wait till the last minute — Please Update Nodes
Parity > v1.9.3
Geth > v5.0.0
Mantis > v1.1@bitfinex @krakenfx @BitZExchange @BithumbOfficial @LBank_Exchange @ZbTalk @BittrexExchange pic.twitter.com/mrz3D2xpd4
— Ethereum Classic (@eth_classic) May 25, 2018
Update go users benefit. In addition to reducing the difficulty of mining will decrease also the time of block creation.
Mine Ethereum Classic recommend on the bullet 2Miners. Details of production are described here.
Subscribe to our channel in the Telegram’s warm there. Because of Asimov.