Ethereum Classic successfully completes a new hard fork
- The hard fork, dubbed “Atlantis,” expects all software users to upgrade their clients.
- Atlantis was scheduled to be released in summer, but it was postponed over disagreements.
Ethereum Classic has recently completed its Atlantis hard fork. The goal of the fork is to increase its interoperability with Ethereum. All software users are expected to upgrade their clients to be in tune with the hard fork. Ethereum Classic Labs reported that Atlantis comprises of 10 Ethereum Improvement Proposals (EIPs). The upgrade was focused on improving stability and performance and add opcodes, precompiled contracts, zk-SNARKs and enhanced security.
Afri Schoedon, the hard fork coordinator, said: “And we are on Atlantis. Congratulations, everyone.” Yaz Khoury, ETC Cooperative director of developer relations, took to Twitter saying that this fork was “one of the longest debates to reach consensus along with a lot of the immutability politics.” He further added: “Learned a lot about the beauty of decentralization and a distributed community.”
Atlantis was scheduled to be released in summer, but it was postponed over disagreements, particularly over EIP 170. ETC Labs worked with Chainsafe System and ETC Cooperative, among other community members, on the hard fork. No single actor coordinated the hard fork.
Previously this week, around 60% of the nodes and over 75% of the hashing power had confirmed the upgrade. Major exchanges Coinbase, Poloniex, Binance, Bittrex, Kraken, Shapeshift and OKEx confirmed with ETC Labs that they had updated their software to support Atlantis.
Terry Culver, ETC Lab’s CEO, reported that Atlantis wishes to work with ethereum. Numerous Atlantis’ EIPs have been on ethereum for years and should allow for more crossover between the platforms, especially for dapps. He said:
“The hard fork clearly shows we are committed to compatibly and working with ethereum. What we would like to do is find ways to make the two chains support one another.”
ETC/USD daily chart
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ETC/USD has gone down from $6.22 to $6.19 in the early hours of Saturday. In the process, ETC/USD has charted seven bearish days in a row, wherein the price has fallen from $6.71 to $6.19. The price is trending below the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. The SMA 50 curve acts as immediate market resistance.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
