Cryptocurrency News

Ethereum Classic (ETC) Successfully Completed Its Hard Fork


The Ethereum traditional Atlantis hard fork, which became anticipated this summer and was delayed because of various disagreements, that has ultimately taken place and henceforth, effectively updated the machine software, as a result of fulfilling a demand of the settlement formerly reached with ETH.

Ethereum Classic portray the minority who likes to opt for the old block after the 2016 Ethereum hard fork, which is called Atlantis. It requires all software customers to update their device, and the customers will have an option to perform the transaction within the principles of the system.

As indicated by Ethereum classic process, Ethereum Classic Labs, 10 Ethereum Improvement Proposals (EIPs) were incorporated into Atlantis to improve the solidness and execution including opcodes, precompiled contracts, zk-SNARKs, and upgraded security.

During a public call, Afri Schoedon, the hard fork coordinator congratulated everyone about being a part of Atlantics while Yaz Khoury, ETC Cooperative director of developer relations further added on Twitter that this fork perhaps saw the longest discussion to agree along with a great deal of unchanged politics.

He also added that a lot could be learned about the beauty of decentralization and a distributed community.

Atlantics was delayed because of the criticism about EIP 170 during this summer. Nobody facilitated the hard fork rather ETC Labs worked with Chainsafe System, ETC Cooperative who are among the other community on the hard fork.

In the being of the week somewhere in the range of 60 percent of the nodes and more than 75 percent hashing powder has affirmed about upgradation. Major exchanges such as Coinbase, Poloniex, Binance, Bittrex, Kraken, Shapeshift and OKEx has committed with ETC Labs that they have refreshed their software to help Atlantics.

ETC Lab’s CEO Terry Culver said that Atlantics desires to work with Ethereum. There are a lot of Atlantics’ EIPs that have been on Ethereum for quite a long time, and they should also be permitted for more crossover between the platforms, particularly for dapps.

Culver said that the hard fork distinctly indicates about us being focused to work perfectly with Ethereum. He also said that there is a need to find a way to make the two chains that help each other.

Ethereum is a part of the 2016 hard fork of Ethereum classic that follows the DAO, a hacked funding mechanism which is caused by a rift in the cryptocurrency’s community. This project is different, but they still have many similar goals as Culver told.

Culver said that while the hard fork was delayed, the process was not debatable. He also further added that they have full confidence in the quality of the public blockchain, which is truly based on the strength of the community.

The Digital Currency Group founder and CEO Barry Silbert appeared in public Discord group and spoke about the Ethereum classic community and kidding about his Ethereum Classic Atlantis coins.

He appreciated to everyone about hard fork.

On Saturday during this process of ETC/USD has fallen from $6.22 to $6.19. ETC/USD had recorded seven rough days in a row where the price had fallen from 6.71 to $6.19. The price is moving below the 200-day simple moving average (SMA 200), SMA 50, and SMA 20 curves. The curve SMA 50 performs as an immediate market resistance.

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