Tanya Abrosimova
Independent Analyst
- ETC developer teams agreed on the date fo the upcoming hardfork.
- ETC/USD is range-bound during early Asian hours on Friday.
During the video conference held on Thursday, June 20, the Ethereum Classic developers came to a problematic consensus on the schedule of a vital network update called Atlantis. It will take place at block 8,772,000, which is expected, to be found around 12:00 UTC on September 17 this year.
The developers had a hard time agreeing upon the list of improvements to be included in the update; however, it seems that they managed to reach consensus during the recent meeting.
Notably, they initially planned to launch Atlantis in the test network the end of this month, while the launch of the main network was scheduled at the end of the summer.
However, Ethereum Classic Labs - a dev team behind Classic Network Geth, insisted on activating hard forks on July 1. They said that the decision was made due to the pressure from Asian miners and exchanges that allegedly insisted on performing the update as fast as possible.
Though, several community members, including the founders of the research startup Gödel Labs Tang and Roy Zhou, accused them of falsifying such demands.
The Ethereum Classic Labs and its CEO Terry Culver also initially opposed the hardfork postponement to a later date. Nevertheless, over the past few days, the Ethereum Classic Labs has softened its position.
The Atlantis update is coupled with another upgrade called Agharta and should activate the changes that were formally proposed for the original Ethereum network in 2017. Their goal is to improve interoperability between the two blockchains and facilitate the migration of decentralized applications (dApps) from one network to another.
ETC/USD is changing hands at $8.50. The coin is mostly unchanged both since the beginning of Friday and since this time on Thursday. Ethereum Classic takes the 19th place in the global cryptocurrency market rating with the current market capitalization of $946 million.
ETC/USD, 1-hour chart
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